Nearly a decade after the Financial Action Task Force (FATF) introduced requirements for National Risk Assessments (NRAs) of money laundering and terrorism financing (ML/TF) risks, the international community is at the right point to review the past 10 years and… Read More ›
Germany plans to create a national financial crime authority with the aim of effectively fighting white-collar crime, vigorously enforcing sanctions and overcoming its reputation as a money-laundering hub. A central element of the plan is to bundle the most important… Read More ›
Despite two recent high profile out-of-court settlements involving major Dutch banks, some of the Netherland’s supervisors still heavily rely on informal enforcement actions and warning letters according to the Financial Action Task Force (FATF). In its Mutual Evaluation Report Netherlands-2022,… Read More ›
Document fraud and financial crime are systematically employed by organised criminal groups to facilitate offences related to pollution crime that generate millions of US dollars each year, a new survey by Interpol has found. The survey underlines the finding of… Read More ›
UK overseas jurisdictions, collectively with the UK itself, make up the world’s biggest enabler of financial secrecy, according to analysis by the Tax Justice Network (TJN). While the UK overseas jurisdictions, some of which have a reputation for operating as… Read More ›
Germany has drawn criticism from the Financial Action Task Force (FATF) for not doing enough to tackle money laundering, such as not implementing reforms to its anti-money laundering and counter financing of terrorism (AML/CFT) regime and prosecuting very few for… Read More ›
The Wolfsberg Group has published a guidance paper on requests for information (RFIs) as used in the anti-money laundering (AML) transaction monitoring process. The association of global banks that develops frameworks and guidance for the management of financial crime risks… Read More ›
Federal investigative agencies have done little to address trade-based money laundering (TBML) according to the final version of a report commissioned by British Columbia into money laundering following revelations of widespread trade-based financial crime in the Canadian province (Trade-based Financial… Read More ›