November 2020
- GFI announces cloud-based tool to detect misinvoicing
- English firms in trade-based financial crime network
- Nasdaq acquires Verafin, increases its position in AML technology market
- UNCTAD and ZRA mineral tracking tool now available for other countries
- Australian financial services watchdog issues guide to combat illegal wildlife trade, money laundering and illicit fund flows
- Technology and collaboration needed to counter TBML says chief compliance officer
- COP10 focus on role IFFs play impeding progress towards SDGs
- Global banks engaged in industrial-scale money laundering says ICIJ
- Shell companies key to North Korea’s illicit access to the global financial system
- US investigators ditch inquiry into Kaloti’s gold trade money laundering
- FATF adopts new TBML report
- Nasdaq Automated Investigator for AML to process data using multiple artificial intelligence variants
- Council of Europe warns Georgia of TBML and trade-based terrorism financing risks
- Ethiopia issues new currency notes to choke illicit financial flows
October 2020
- US files complaint against Chinese shell companies facilitating US technology sales to North Korea
- Hawala dealer used multiple trade-based financial crimes in money laundering schemes
- Despite coronavirus impacts FATF removes Iceland and Mongolia from grey list, remains committed to AML/CFT brief
- South Asian banks need AML overhaul says Deloitte report
- Nigeria clamps down on over-invoicing and forex overpricing
- Trade-based financial crime and misinvoicing in Albania, Kosovo and North Macedonia
- UAE introduces new beneficial ownership regulations
- South Africa loses US$300 billion through capital flight, over-invoicing and under-invoicing
- WBG officials call for more focus on those who receive bribes and other proceeds of corruptions
- TBML and cryptocurrencies directly integrated in NICE Actimize AML platform
- UNCTAD publishes extensive report on IFFs out of Africa
- Nigérien officials skim US$137 million off US-subsidised arms deals
- Journalists awarded grants for investigating IFFs, noxious assets, money laundering and corruption
- Dubai’s free trade zones under examination by GFI
September 2020
- UK issues guidance for maritime operators on sanctions and AML requirements
- UK overseas territories fail to make ownership details public
- Iran’s AML/CFT failings deter Chinese and Russian banks
- India embarked on manual inspection of Chinese imports for under-invoicing
- McLaren super car features in Philippines’ clampdown on
- Intelligence needed to confront illicit finance according to British expert
- Russian oligarchs used trade in high-value art and shell companies to evade sanctions
- Myanmar’s beneficial ownership disclosure insufficient says Global Witness
- Details unclear in Egypt’s new beneficial ownership register
- India reports highest ever number of information requests for money laundering and tax evasion
- Elite network uses a mix of typologies to launder their own and other criminals’ money
- Coronavirus will limit African authorities capacity to curb IFFs, other actors have roles
- ECJ fines Romania and Ireland for failures in IFF prevention measures
August 2020
- Bangladesh mulls tough TBML penalties
- Pakistan says new DGRM will prevent under-invoicing and boost revenue collection
- Global action required more than ever to fight IFFs through tax systems
- Dubai a haven for trade-based money laundering says US study
- Nigeria initiates inter-agency probe to tackle IFFs and revenue losses
- New critical survey of data and methodologies for assessing IFFs on open access
- Barbados moves to curb vehicle import misdeclarations and under-invoicing
- Cayman changes exemption from beneficial ownership rules
- US committee reaches bipartisan agreement on AML/CFT amendments