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

Premium July 18, 2024

DEBATE: David Lewis told AML Intelligence he agreed with Ilze Znotina’s comments in response to his views. He said his point was not to criticise smaller countries - rather, it was that: “There is little evidence in FATF evaluations to show a strong correlation between technical compliance and effectiveness."

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LATEST: Swiss prosecutor appeals UBS acquittal in Credit Suisse money laundering case

INSIGHT: Read Bruna Szego’s full Keynote Address to EAFCS2025 as she outlines her vision for AMLA

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NEWS: Stablecoin bill fails to clear key hurdle in US Senate

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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LATEST: Swiss prosecutor appeals UBS acquittal in Credit Suisse money laundering case

INSIGHT: Read Bruna Szego’s full Keynote Address to EAFCS2025 as she outlines her vision for AMLA

 Premium

NEWS: Stablecoin bill fails to clear key hurdle in US Senate

Regulatory Watch News

  • Update to the UK Sanctions List: Russia Regime

    UK Government

    Today, 9 May, the UK Government has sanctioned 101 ships, 5 individuals, and 4 entities under the Russia sanctions regime. This is the UK's largest package targeting Russia’s shadow fleet and its enablers.

  • Bruna Szego addresses the public for AMLA in Dublin

    AMLA

    At the European Anti-Financial Crime Summit in Dublin, Ms. Bruna Szego, the inaugural Chair of the European Anti-Money Laundering Authority (AMLA), delivered a keynote speech, to an audience of public and private sector stakeholders, highlighting the Authority’s strategic priorities and the urgent need for unified, cross-sector action against financial crime. Ms. Szego underscored the transformative potential of AMLA, describing it as "a significant step ushering in a new chapter of enhanced cooperation and unified action in our shared mission to counter money laundering and terrorism financing."

  • Charge upgraded for WA man allegedly involved in cross-border $1.69 million cash and tobacco trafficking

      The AFP has upgraded a charge against a West Australian man scheduled to appear in Perth Magistrates Court today (9 May, 2025) over his alleged role in an illicit tobacco smuggling syndicate. The AFP initially charged the Baldivis man, 26, on 28 March, 2025, with proceeds of crime and illicit tobacco offences after seizing bundles of cash that were concealed in microwave ovens waiting to be shipped to Melbourne, as well as thousands of illicit tobacco products.

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