Category: Featured Articles

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ANALYSIS: In Detail – what the new European AML laws mean for you

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ANALYSIS: 17,000 ATM withdrawals, $1.9M in cash thru shell companies to Colombia – the US case against TD Bank

NEWS: Amsterdam’s mayor warns than Netherlands risks becoming ‘narco-state’ swamped with criminal money, violence

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LATEST: EU agrees ‘Eurovision’ voting system to decide AMLA host city; 12th round of sanctions agreed

Warning from UBS audit on bank's statements

BREAKING: UBS fails to overturn guilty verdict in money laundering case – but France’s top court orders re-trial over €1.8BN fine

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NOTEBOOK: The stark reality of organised crime’s growing influence in European business and politics is laid bare in understated Europol report

INSIGHT: EU’s top regulators warn of money laundering threat in deal for closer economic ties with Monaco, San Marino and Andorra

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NEWS: Canada’s TD Bank expects to be hit with fines and other penalties by the US over its AML compliance

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ANALYSIS: Point by point – the onerous remediation project Deutsche must put in place to avoid potential federal cease-and-desist order

SPECIAL REPORT: Exxon Mobil repeatedly warned off mining magnates suspected of money laundering

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BREAKING: Reporting of suspicious transactions by EU’s banks rated ‘poor’ by up to half of bloc’s supervisors

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INSIGHT: European banking supervisors still find it difficult to assess money laundering risk, EBA reveals

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FinCEN Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern, Proposes a Rule to Combat Cyber Scams and Heists
FinCEN
May 2, 2025
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a finding and notice of proposed rulemaking (NPRM) pursuant to Section 311 of the USA PATRIOT Act that identifies Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposes to sever its access to the U.S. financial system. Huione Group serves as a critical node for laundering proceeds of cyber heists carried out by the Democratic People’s Republic of Korea (DPRK), and for transnational criminal organizations (TCOs) in Southeast Asia perpetrating convertible virtual currency (CVC) investment scams, commonly known as “pig butchering” scams, as well as other types of CVC-related scams. Given the money laundering risk posed by Huione Group, FinCEN is proposing to prohibit U.S. financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of Huione Group.
FCA seeks feedback on regulation of cryptoasset trading platforms in next phase of road to regulation
Financial Conduct Authority
May 2, 2025

The FCA is seeking views on the future regulation of specific cryptoasset activities, ahead of legislation to bring them within regulation.

Clear crypto regulation will boost confidence in the sector, supporting growth. In this latest discussion paper (DP), the FCA is seeking views on intermediaries, staking, lending and borrowing, and decentralised finance. With more people using credit to purchase crypto, the DP also considers whether restrictions should be applied in that area.
Website Alert – Fraudulent website related to Bank Julius Baer & Co. Ltd.
HKMA
May 2, 2025
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank Julius Baer & Co. Ltd. relating to a fraudulent website, which has been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.