Regulated financial institutions around the world follow a similar process when it comes to reporting suspicions of money laundering via Suspicious Activity Report (SAR) disclosures to their regulator or law enforcement. However, there may be some deviation in how the […]
Following a Financial Action Task Force (FATF) plenary in February 2020, Mauritius was added to FATF’s list of Jurisdictions under Increased Monitoring, which is commonly referred to as the ‘grey list’. How did Mauritius find itself in this position, and […]
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has released a new guide aimed at tackling the increasing misuse of transaction payment text fields by criminals. The guide, Preventing misuse and criminal communication through payment text fields, aims to raise […]
Swiss regulator the Financial Market Supervisory Authority (FINMA) has reprimanded two banks for breaking money laundering rules during their dealings with Venezuelan entities. Wrapping up a five-year investigation into 30 banks suspected of breaches relating to Venezuela’s state oil company […]
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 world is being dredged of its natural resources, with much of what we rely on for our livelihoods at risk from a new threat: environmental crime.” – Interpol, The Rise of Environmental Crime Environmental crime has become widely known as one […]
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 […]
New guidance issued by the Financial Crimes Enforcement Network (FinCEN), the Financial Intelligence Unit (FIU) of the United States, tackles the convergence of ransomware, cryptocurrencies, money laundering, and terrorist financing. The Financial Trend Analysis focuses on patterns and trends in […]
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 […]
Whether evaluating a counterparty or detecting suspicious behavior across fiat and cryptocurrencies, ComplyAdvantage has it all covered in one platform. By enabling firms to effectively scrutinize their customers’ transactional behavior, transaction monitoring is the foundation of an effective anti-money laundering […]
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