28th December 2020
As the Anti-Terrorism Council (ATC) moved to cut off funding to the Communist Party of the Philippines (CPP), the New People’s Army (NPA), and the National Democratic Front (NDF), the Anti-Money Laundering Council (AMLC) has issued a freeze order on all bank accounts of the leftist bloc the government has… Read More
22nd December 2020
Governor Augustus Jaspert is advising that it is in the BVI’s best economic interest to implement publicly accessible registers in accordance with a new draft order released by the United Kingdom. Last week, Britain published a draft order that outlines the guidelines OTs must abide by as they all move to… Read More
21st December 2020
Luxury London homes are an “attractive method to launder illicit funds”, a government report has said as the National Crime Agency steps up its McMafia-style “dirty money” investigations into suspect funds flooding into the country. The national risk assessment of money laundering and terrorist financing 2020 has upgraded… Read More
21st December 2020
The Bahamas has officially been removed from the Financial Action Task Force’s (FATF) grey list of nations deemed to have deficiencies in their anti-financial crime defenses, the Office of the Attorney General (OAG) announced yesterday. This follows the FATF conducting an on-site visit to the country at the end… Read More
18th December 2020
The FATF (Financial Action Task Force) has issued a new report detailing how criminals are continuing to exploit the Covid-19 crisis. The report represents an update to the FATF’s May report, which identified challenges, good practices and policy responses to new money laundering and terrorist financing threats and vulnerabilities… Read More
18th December 2020
By David Klein, OCCRP, 16 December 2020 OCCRP – Australian government agency that tracks criminal abuse of the financial system has found the country’s package tour industry a high risk sector for money laundering, financing of terrorism and organized crime, the agency’s latest report revealed. Transaction Reports and… Read More
18th December 2020
The United Kingdom’s Financial Conduct Authority has issued temporary registrations to crypto-asset companies that have already submitted applications but not yet been processed. According to a Dec. 16 announcement, this will allow the companies to continue trading for an extended period until July 9, 2021, following the initial registration… Read More
17th December 2020
Financial firms are ignoring their legal responsibilities to prevent money laundering and the financing of terrorism and leaving oversight to unqualified staff, according to the Central Bank of Ireland (CBI). A supervisory review of compliance with anti-money laundering (AML) and counter financing of terrorism (CFT) regulations found that boards across… Read More
17th December 2020
The European Banking Authority (EBA) published today an Opinion on how to strengthen the connection between the EU legal frameworks on anti-money laundering and terrorist financing, and deposit protection. The proposals set out in the Opinion are addressed to the European Commission and aim at informing its ongoing reviews of… Read More
17th December 2020
One of the countries lauded as being among the most crypto friendly in the European Union revoked the licenses of more than 1,000 crypto firms in 2020. According to news outlet Postimees, Estonia’s Financial Intelligence Unit, or FIU, has revoked the licenses of roughly 70% of virtual currency companies… Read More