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NEWS: Yellen announces new effort to prevent Amazon basin illicit finance; threat of sanctions on environmental criminals

Premium July 28, 2024

AMAZON: "Globally, nature crimes are estimated to generate proceeds in the hundreds of billions of dollars annually and often entail misusing and abusing the U.S. financial system," Treasury Secretary Janet Yellen said this weekend, adding that such trafficking is upsetting the ecological balance of the Amazon rainforest, the livelihoods of local communities, and national economies in the region. Our file photo shows an aerial view of a natural lake fed by a spring in the Amazon River basin near Manaus, Brazil.

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NEWS: Europol says AI facial recognition technology could help stop ATM scams

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NEWS: Luxembourg’s CSSF regulator says new anti-corruption rules will be ‘focal point’ in money laundering fight

NEWS: None of 25 UK legal and accounting industry bodies ‘fully’ meet AML standards, FCA warns

By AML Intelligence Correspondents U.S. Treasury Secretary Janet Yellen has launched a new effort with Amazon basin governments to disrupt illicit finance that fuels nature crimes, including illegal harvesting of trees and other plants, minerals and wildlife. Yellen said on Saturday that the initiative aims to increase cooperation among finance ministries, law-enforcement agencies and other…

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NEWS: Europol says AI facial recognition technology could help stop ATM scams

 Premium

NEWS: Luxembourg’s CSSF regulator says new anti-corruption rules will be ‘focal point’ in money laundering fight

NEWS: None of 25 UK legal and accounting industry bodies ‘fully’ meet AML standards, FCA warns

Regulatory Watch News

  • Commerce Announces Proposed Rule to Secure Connected Vehicle Supply Chains from Foreign Adversary Threats

    US Department of Commerce

    Washington, D.C. – Today, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) published a Notice of Proposed Rulemaking (NPRM) that would prohibit the sale or import of connected vehicles integrating specific pieces of hardware and software, or those components sold separately, with a sufficient nexus to the People’s Republic of China (PRC) or Russia.

  • How AI Can Strengthen Law Enforcement: Insights from Europol’s New Report

    Europol

    A newly published report by Europol’s Innovation Lab explores the ways in which artificial intelligence (AI) can revolutionise law enforcement operations. By harnessing AI's advanced capabilities, law enforcement agencies can process vast datasets more efficiently, enhancing their ability to detect and counter criminal activity. AI tools can streamline decision-making processes at both operational and strategic levels, enabling authorities to better identify and address criminal threats at their core.

  • September 25: FinCEN Virtual Info Session on Beneficial Ownership Reporting

    FinCEN

    The Corporate Transparency Act requires many companies doing business in the United States to report information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) about who ultimately owns or controls them. Join a FinCEN representative for a virtual information session on beneficial ownership information (BOI) reporting requirements and how to comply with the law.

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