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NEWS: US investment advisors will be subject to AML rules; real estate agents must file STRs

Premium February 7, 2024

REPORT: Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E Nelson said: “Treasury, through our National Risk Assessments, is at the cutting edge of analyzing the global risk environment to protect the US and international financial systems from abuse by illicit actors. We urge both the public and private sectors to engage with these reports, as well as our forthcoming National Strategy for Combatting Terrorist and Other Illicit Finance.”

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NEWS: EU freezes €520M in enormous Mafia-linked VAT fraud case dubbed ‘Moby Dick’

NEWS: EU considers adding Russia to money laundering blacklist – flags possible break from FATF

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NEWS: French far right leader Marine Le Pen faces possible 5-year ban from office in embezzlement case

By Alisha Houlihan for AMLi

The US Department of the Treasury (USDT) published the 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing, it was revealed today. These reports highlight the most significant illicit finance threats, vulnerabilities, and risks facing the United States. 

In a statement, the USUT revealed the reports detail recent, significant updates to the Us anti-money laundering/counter-financing of terrorism (AML/CFT) framework and explain changes to the illicit finance risk environment.

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Premium

NEWS: EU freezes €520M in enormous Mafia-linked VAT fraud case dubbed ‘Moby Dick’

NEWS: EU considers adding Russia to money laundering blacklist – flags possible break from FATF

 Premium

NEWS: French far right leader Marine Le Pen faces possible 5-year ban from office in embezzlement case

Regulatory Watch News

  • nternational Day against Transnational Organized Crime – 15 November

    UNODC

    On 15 November 2024, the world marks the first International Day for the Prevention of and Fight against All Forms of Transnational Organized Crime (TOC), established by General Assembly resolution 78/267. This day highlights the urgent need for global solidarity to counter the rising threat of organized crime, which undermines peace, security and progress toward the Sustainable Development Goals (SDGs). Criminal networks are exploiting global vulnerabilities on a vast scale—from human trafficking to environmental destruction and cybercrime. Organized crime operates across borders, posing serious challenges that no country can tackle alone.

  • Publication of the Mutual Evaluation Reports for Marshall Islands, Papua New Guinea and Timor-Leste

    APG

    The 3rd Round APG Mutual Evaluation Reports (MERs) for the Marshall Islands, Papua New Guinea and Timor-Leste were adopted by the APG membership in September 2024. These MERs provide a snapshot of the Marshall Island’s system as at the date of the onsite visit in November/December 2023, Papua New Guinea’s system at the date of the onsite in October 2023 and Timor-Leste’s system as at the date of the onsite visit in September 2023. After completing the post adoption review process, the APG is pleased to be able to present the final the Marshall Islands, Papua New Guinea and Timor-Leste MERs. The reports are available for download via the Documents section of this website, under Members and Observers and under Mutual Evaluation Reports - 3rd Round.

  • Investigation ‘Moby Dick’: Mafia clans invest in €520 million VAT fraud

    European Public Prosecutor's Office

      (Luxembourg, 14 November 2024) – In an investigation led by the European Public Prosecutor’s Office (EPPO) in Milan and Palermo (Italy), code-named 'Moby Dick', detention orders are being executed against 43 suspects. The EPPO is probing a €520 million VAT fraud, with heavy involvement of several mafia groups.  During today’s action, led by the EPPO, 160 searches are being carried out in more than 10 countries, involving hundreds of police officers. Investigative measures are ongoing in several EU countries, including Bulgaria, Croatia, Cyprus, Czechia, Italy, Luxembourg, the Netherlands, Slovakia and Spain, as well as in non-EU countries. A total of 195 individuals are being investigated, with more than 400 companies involved. 

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