Reputation launderers, notably public relations agencies and law firms, are distorting the financial crime and sanctions risk profiles of kleptocratic regimes and oligarchs seeking to launder and protect their illicit gains according to academic and investigative researchers. Banks can also… Read More ›

Money laundering
Information from financial institutions a core function for FIUs says Egmont Group
Analysis of information received from financial institutions is a core function of financial intelligence units (FIUs), particularly in the asset recovery process according to a new report by the Egmont Group of FIUs. The group facilitates and prompts the global… Read More ›
US government lost US$640 billion in a year through trade-based tax evasion and money laundering
Trade-based tax evasion and money laundering cost the US government more than US$640 billion in taxable income during 2021 according to a new report commissioned by Sēk Strategies, a Washington-based consultancy firm focused on transparency, accountability, human rights and the… Read More ›
Banks and institutions cannot be used for AML/CFT to combat virtual assets says Moneyval
Traditional forms of control that banks and institutions have on financial flows and services cannot be used to combat emerging money laundering and terrorist financing risks related to virtual assets according to the Council of Europe’s anti-money laundering and counter… Read More ›
Ministers commit to swift and decisive action to improve compliance and implementation of FATF standards
The ministers of the Financial Actional Task Force (FATF) at their biennial meeting in Washington last week said they “note with concern” that effectiveness of measures in place to fight money laundering, terrorist financing, and proliferation financing, remains insufficient in… Read More ›
Landmark FATF report: “tick-box” approach not enough, focus on results and implementation needed
Most countries have yet to make sufficient progress on preventing legal persons and arrangements from being abused for money laundering and terrorist financing according to a landmark report published by the Financial Action Task Force (FATF). Report on the State… Read More ›
Sanctioned Russian entities can evade restrictions by engaging in gold and money laundering
Barred from generating and accessing profits from gold produced domestically or at their mining investments abroad, sanctioned Russian entities and individuals can evade restrictions imposed on them if they engage in gold and money laundering to disguise the origins of… Read More ›
Canada’s AML regulator issues special bulletin on Russia-linked money laundering related to sanctions evasion
Canada’s anti-money laundering and counter financing of terrorism (AML/CFT) regulator and financial intelligence unit has published a Special Bulletin on Russia-linked money laundering related to sanctions evasion. Ottowa has imposed a significant number of new sanctions on Russia in response… Read More ›