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NEWS: Former senior FATF figure claims ‘little evidence’ its recommendations effectively prevent money laundering

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David Lewis, Managing Director at Kroll

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NEWS: Luxembourg National Risk Assessment 2025 warns of ML threats in law and accounting

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NEWS: Cuba adopts UNDOC ‘goAML’ system for FIUs

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BREAKING: 13 arrested as Turkish fintech Papara faces money laundering probe

By PAUL O’DONOGHUE, Senior Correspondent DAVID Lewis, former executive secretary at FATF, has claimed there is “little evidence” that technical compliance with the agency’s recommendations leads to effective AML outcomes. Mr Lewis highlighted that jurisdictions rated largely or fully compliant with all 40 FATF (Financial Action Task Force) Recommendations included the likes of the Cayman…

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NEWS: Luxembourg National Risk Assessment 2025 warns of ML threats in law and accounting

 Premium

NEWS: Cuba adopts UNDOC ‘goAML’ system for FIUs

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BREAKING: 13 arrested as Turkish fintech Papara faces money laundering probe

Regulatory Watch News

  • Update to the UK Sanctions List: Russia Regime

    UK Government

    AMENDMENT Deleted information appears in strikethrough. Additional information appears in italics and is underlined. 1. LITVAK, Michel DOB: 18/08/1951. POB: St Petersburg, Russia Nationality: (1) Belgium (2) Russia (3) United Kingdom Other Information: (UK Sanctions List Ref): RUS2410. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 24/02/2025. (UK Statement of Reasons):Michel LITVAK (hereafter LITVAK) is an “involved person” under the Russia (Sanctions) (EU Exit) Regulations 2019 on the basis of the following ground: LITVAK is or has been involved in obtaining a benefit from or supporting the Government of Russia by owning or controlling an entity, OTEKO, which is carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian transport sector. (Gender): Male Listed on: 24/02/2025 UK Sanctions List Date Designated: 24/02/2025 Last Updated: 24/02/2025 23/05/2025 Group ID: 16797.

  • Irish Customs seize over 4000 illegally imported e-bikes in OLAF-led crackdown

    OLAF

    On 20 May 2025 and over the following days, Irish customs authorities seized over 4000 electric bikes and a number of e-scooters worth €4,5 million illegally imported into the European Union during targeted searches at two warehouses. The operation followed coordinated efforts by the European Anti-Fraud Office (OLAF) to identify and disrupt fraudulent import schemes involving e-commerce warehouses across the EU. 

  • Europol has identified AI powered fraud as a key problem area
    Busted: 14 cocaine traffickers arrested in joint operation in Belgium and Italy

    Europol

    Europol has supported a large-scale investigation against a transcontinental criminal network trafficking large amounts of cocaine from South America to Europe. The operation involved authorities from Belgium, Germany, Italy and Switzerland, as well as Eurojust.

    Cocaine paste shipped from Colombia to the EU

    In the framework of intelligence activities underway with its operational counterparts in the framework of the SKY ECC investigation, Europol developed reliable intelligence concerning the international drug trafficking activities of this organised crime group operating in several countries in Europe.

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