Money laundering and illicit financial flows (IFFs) are amongst several concerns raised by petitioners who have triggered a five-judge bench of the Sri Lankan Supreme Court to examine several petitions filed against the US$1.4 billion China-funded Colombo Port City Commission… Read More ›
A dedicated website has been launched collecting all the resources adopted by the G20 on anti-corruption over the years to make them more accessible. The website was launched at the first meeting of the Anti-Corruption Working Group (ACWG) which also… Read More ›
Gold hub UAE is to restrict the movement of precious metals and stones and tighten suspicious banking reports in measures aimed at stemming criminal financial activities according to the recently established Executive Office to Combat Money Laundering and Terrorist Financing…. Read More ›
The UK’s Financial Conduct Authority (FCA) has announced that it has commenced criminal proceedings against National Westminster Bank Plc (NatWest) in respect of offences under money laundering regulations enacted in 2007. This is the first criminal prosecution under the act… Read More ›
Illicit trade in natural resources – including protected flora and fauna as well as illegally harvested and mined commodities such as timber, metals and stones – is likely to come into sharper focus after the UN’s adoption of the Kyoto… Read More ›
The Financial Action Task Force (FATF) and Egmont Group of Financial Intelligence Units have released a new guide for financial institutions and businesses providing a set of trade-based money laundering (TBML) risk indicators for people responsible for compliance, transaction monitoring, investigative… Read More ›
The European Banking Authority (EBA) has published its biennial Opinion on risks of money laundering and terrorist financing (ML/TF) affecting the EU’s financial sector. The Opinion specifically contemplates the exposure of credit providers to trade-based money laundering (TBML), otherwise it… Read More ›
Director of the US’ Federal Bureau of Investigation (FBI), Christopher Wray, has highlighted the growing threat of trade-based money laundering (TBML) and the increasingly active role played by professional money launderers (PMLs) in financial crimes. The FBI chief was talking… Read More ›