After convincing investors to contribute nearly $9 million in a fraudulent green energy undertaking, 44-year-old Ray Brewer has been sentenced to more than six years in prison. According to the US Department of Justice (DOJ), Brewer had convinced investors he […]
On June 30, 2023, His Majesty’s Treasury (HM Treasury) released a consultation paper on the Reform of the Anti-Money Laundering and CounterTerrorism Financing Supervisory Regime. The consultation is part of a reform plan under the Economic Crime Plan (2023-2026). The […]
In a report released on June 27, 2023, the Financial Action Task Force (FATF) revealed massive anti-money laundering and countering of terrorist financing (AML/CFT) regulatory shortcomings for the virtual asset sector in most surveyed countries worldwide. The report aggregated data […]
Authorities worldwide have made over six thousand arrests – including nearly 200 high-value targets – connected to the takedown of EncroChat, a communications platform favored by organized crime groups (OCGs). The arrests were made possible by a joint investigation team […]
In the ongoing fight against fentanyl trafficking in the Americas, United States authorities have arrested two people and unsealed three indictments against People’s Republic of China (PRC) manufacturers and their employees for supplying chemical precursors to fentanyl. According to the […]
The third Financial Action Task Force (FATF) plenary under the two-year Singapore Presidency of T. Raja Kumar took place in Paris on June 21-23, 2023. Discussions focused on: Measures for anti-money laundering and the countering of terrorist financing (AML/CFT) in […]
In the opening speech for the 2023 Regional Anti-Scam Conference in Singapore, Sun Xueling, Minister of State for the Ministry of Home Affairs and Ministry of Social and Family Development, highlighted the need for countries to cooperate in combatting fraud. […]
On May 24-25, 2023, Canada and the United States joined a trilateral workshop reviewing the opioid problem, including fentanyl, and its connection to money laundering. The workshop was hosted by Mexico’s Unidad de Inteligencia Financiera (UIF) in Mexico City. As […]
Concluding an assessment performed in 2022, the European Banking Authority (EBA) has found that firms in the payments sector are deficient in their controls against money laundering and terrorist financing (ML/TF). It also found that, despite the significant ML/TF risks […]
On 7th June, the UK Payment Systems Regulator (PSR) announced new reimbursement requirements for authorised push payment (APP) fraud victims. In this blog and my video below, I break down what the announcement means and – as someone who has […]
Following a consultation in December 2022, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has released new compliance and reporting guidance for high-risk customers to discourage debanking activities, sometimes known as de-risking. Customers affected by debanking include some fintechs, remittance […]
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network of individuals and entities across Iran, the People’s Republic of China (PRC), and Hong Kong for facilitating the procurement of critical materials in support […]
EN
FR