Hong Kong’s government has set out amendments to its Anti-Money Laundering and Counter-Terrorist Financing Ordinance, including a virtual asset service provider (VASP) licensing regime. The government is also launching a registration program for dealers in precious metals and stones (DPMS). […]
Nicole Rose, CEO of Australia’s financial intelligence agency, AUSTRAC, has warned that more money laundering prosecutions are needed to bolster the global credibility of Australia’s AML/CFT regime. The warning was issued by Rose at Australasia’s 2nd Annual Anti-Money Laundering (AML) […]
The Financial Action Task Force (FATF) has published the outcomes from its plenary meeting, which took place between June 14 and 17 2022. Three plenary sessions are held each year by the FATF, with the plenary year beginning in July […]
On June 15 2022 the long-awaited Cullen Commission Report was released, detailing the findings of an inquiry into money laundering in the Canadian province of British Columbia. Led by Supreme Court Justice Austin Cullen, the findings are based on years […]
The Financial Action Task Force (FATF) has published a follow-up report on the UK’s anti-money laundering (AML) and counter-terrorist financing (CFT) measures, acknowledging that the country has taken several actions to strengthen its framework since its 2018 mutual evaluation report […]
The International Monetary Fund (IMF) has published a new technical note assessing the state of banking, the microfinance sector and non-financial corporates (NFCs) in the Philippines. In it, the IMF highlighted certain economic activities, such as those practiced in casinos, […]
A bipartisan bill introduced in the Senate plans to create a comprehensive regulatory framework for digital assets in the United States. Sponsored by Senators Kirsten Gillibrand of New York and Cynthia Lummis of Wyoming, the 69-page bill, known as the […]
The Australian Federal Police (AFP) has announced it will target Italian organized crime groups (OCGs) and money laundering syndicates in the next phase of Operation Ironside, which exposed 51 crime groups through a Trojan horse app called AN0M. AFP assistant […]
The Financial Crimes Enforcement Network (FinCEN) has issued an Advance Notice of Proposed Rulemaking (ANPRM) for a no-action letter process, which would enable regulated entities to receive feedback on whether certain services, products, and/or actions would breach federal anti-money laundering […]
European Supervisory Authorities (ESAs) have published a joint report advocating for a more comprehensive framework of powers related to the revoking of licenses for serious breaches of anti-money laundering and countering the financing of terrorism (AML/CFT) rules. The report states […]
The European Union (EU) has issued a new plan to establish common criminal standards for the violation of “restrictive measures” including sanctions. In its proposal, the Commission notes that, while most Member States categorize the violation of such measures as […]
G7 finance ministers have called for action to “monitor and address financial stability risks arising from all forms of cryptoassets.” Meeting in Germany, the group argued for the implementation of the Financial Action Task Force (FATF) travel rule, and stronger […]
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