The Financial Action Task Force has issued revised guidance around virtual assets and warned all countries and private firms follow it in full.
The global FinCrime watchdog has been providing “how-to” style help in this area for years in order to maximise engagement with efforts to tackle dirty money.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
$1.1 million seized at Perth Airport, NSW man charged following money laundering investigation
Australia Federal Police
A New South Wales man is scheduled to appear before Perth Magistrates Court today (22 February, 2025) after the AFP seized about $1.1 million from a suitcase at Perth Airport, triggering an interstate money laundering investigation.
The AFP charged the North Rocks man, 21, in Sydney on 20 February, 2025, before extraditing him to Perth yesterday (21 February, 2025).
He has been charged with one count of engages in conduct in relation to money, worth $1,000,000 or more, that is proceeds of general crime, contrary to section 400.3(2A) of the Criminal Code (Cth).
Israeli Freight Forwarder Sentenced to Two Years in Prison for Violating Export Restrictions Imposed on Russia
US Department of Justice
Gal Haimovich, 49, of Israel, was sentenced today to 24 months in prison and three years of supervised release for conspiracy to illegally ship aircraft parts and avionics from U.S. manufacturers and suppliers to Russia, including for the benefit of sanctioned Russian airline companies. In addition, Haimovich paid the full forfeiture amount of $2,024,435.44 at today’s sentencing.
FATF Advances Work Combatting Proliferation Financing, Reaffirms Countermeasures Against Iran
FATF
PARIS – Today, the Financial Action Task Force (FATF)—the global standard-setting body for anti-money laundering, countering the financing of terrorism, and proliferation of weapons of mass destruction—concluded a plenary in which representatives from the Department of the Treasury participated.
During the plenary—the second under the Mexican presidency—the FATF discussed ongoing work on evolving proliferation financing and terrorist financing risks, financial inclusion, and standards for domestic and cross-border payments, including agreeing to release draft updates for public consultation.