Canadian police, working with the financial regulator and the Canadian Centre to End Human Trafficking (CCEHT), has charged six people and located seven victims, in connection with human trafficking. The year-long investigation – dubbed Project Eonni – began after information was obtained […]
Moves by the Financial Action Task Force (FATF) to prevent the concealment of company information have been frustrated by a lack of effective action from countries across the globe, the body has said. In a statement responding to the release of […]
The Australian Transaction Reports and Analysis Centre (AUSTRAC) is urging the financial sector to take a risk-based, case by case approach to managing anti-money laundering/counter-terrorism financing (AML/CFT) concerns, as it issues new guidance around the “complex global problem” of de-banking. “Businesses vulnerable […]
New sanctions against ransomware operators and crypto exchanges, along with the seizure of $6.1m in funds tied to ransom payments, have marked an escalation in the US government’s crackdown on hackers and anti-money laundering. The US Department of the Treasury announced a […]
The Financial Action Task Force (FATF) has updated its guidance for the virtual asset (VA) industry following a public consultation. The 111-page 2021 Guidance for a Risk-Based Approach to Virtual Assets and VASPs (virtual asset service providers) has been much-anticipated by regulatory […]
The European Union’s 6th Anti-Money Laundering Directive (6AMLD) brought about four key changes that member states had to introduce into local legislation by June 3rd 2021. Broadly categorized under the themes of liability, punishment, cooperation and jurisdiction, these changes have implications for […]
The US Office of Foreign Assets Control (OFAC) has launched a new set of guidelines for financial sector compliance teams: Sanctions Compliance Guidance for the Virtual Currency Industry. The guidance follows a recent report by the US Treasury Department’s Financial […]
Australian banks and fintechs are backing the closure of major loopholes in the country’s anti-money laundering legislation and have warned that gaps in the current framework impact the country’s international reputation. The Australian Banking Association, the Reserve Bank of Australia, […]
New regulatory guidelines from Hong Kong’s Securities and Futures Commission (SFC) take effect from the end of September, aimed at closer alignment with FATF proposals. The guidelines follow consultations on proposed changes to Hong Kong’s AML/CFT advice, which were “largely […]
The criminal offense of money laundering (Section 261 of the German Criminal Code) was profoundly restructured by the “Act to Improve Criminal Law Combating Money Laundering” (Money Laundering Act) which came into effect on March 18th 2021. This new regulation […]
Luxembourg, labeled a tax haven following recent investigations, is taking steps toward tightening its AML systems, with new legislation aimed at sanctioning money laundering and tax evasion. While the details are still being confirmed, a new draft bill from the […]
Austria, one of Europe’s major financial hubs, is aiming to turn the page on a series of money laundering scandals that have rocked the country’s banking sector. Peter Weinzierl, the former CEO of Bank Meinl, a leading Austrian bank, was […]
EN
FR