The US Office of Foreign Assets Control (OFAC) has sanctioned four Mexican nationals, accusing them of trafficking fentanyl and other illegal substances into the US on behalf of one of Mexico’s most dangerous criminal organizations. Aldrin Miguel Jarquin Jarquin, Jose […]
A thousand police and special forces officers carried out raids across Germany this week targeting an international network suspected of laundering more than 140m EUR from criminal activities and financing terror activities in Syria. Officers raided businesses and homes at […]
Understanding where customers have obtained the money that they are using to carry out transactions and make investments is an important part of the Know Your Customer (KYC) process and integral to AML/CFT compliance. As money launderers use increasingly sophisticated […]
In 2021 the Bank for International Settlements (BIS) published a report entitled Supervising cryptoassets for anti-money laundering, which has important implications for those working in the crypto space. The BIS promotes international cooperation amongst central banks, and its 63 members account […]
Japan is an influential regional and global power and participates in a range of trading relationships with partners across the world. Japan uses that status to achieve political and economic goals, often issuing economic sanctions against other countries in response […]
The Monetary Authority of Singapore (MAS) is taking a major step in its ongoing battle against money laundering and the financing of criminal activity with the launch of a groundbreaking digital platform that will enable banks to share information on […]
More than 11.9 million confidential files have been released that expose the secret wealth and offshore dealings of the rich and powerful in what’s been called the “biggest trove of leaked offshore data in history”. Making headlines across the globe, […]
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, […]
More than 100 people have been arrested, many on the Spanish island of Tenerife, over allegations of money laundering, online scams, and violence. Italian and Spanish officials say the suspects made millions by tricking victims – mostly Italian nationals – […]
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 […]
Is Bitcoin In El Salvador Legal? Cryptocurrencies: Bitcoin accepted as legal tender Cryptocurrency exchanges: Legal, registration requirements with SSF The government of El Salvador has been debating the use of cryptocurrency in its financial system for years, with President Nayib […]
A type of economic sanction, trade sanctions are implemented to restrict trade activities with certain foreign targets, usually as part of a wider sanctions program intended to achieve political or diplomatic goals. Trade sanctions set out prohibitions that may apply […]
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