Category: AML

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NEWS: Europe introduces new law to strengthen asset seizure and victim rights

NEWS: Crypto.com fined €2.85M by Dutch Central Bank for compliance avoidance

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NEWS: Second Russian tanker, hit by sanctions, docks at Chinese port to discharge crude

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OPINION: Almost half FATF’s greylist countries are in Africa – why this is a problem

INSIGHT: EU’s new rules on beneficial ownership transparency on foreign legal entities and trusts

INSIGHT: Reasons Europe’s football clubs are set to become obliged entities

NEWS: AML probe leads to 11pc drop in pay for TD Bank’s ceo

NEWS: Major interest in April 17 webinar on use of AI to combat top AML typologies

ILZE INSIGHT: Russia’s continued threat to EU stability and how the bloc must respond – including a stronger role for AMLA

NEWS: 100pc increase in modern slavery, human trafficking over last five years – report

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LATEST: Britain’s Treasury consults with banks on easing burden of AML checks

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LATEST: Share data on terrorists with us, 12 global banks tell law enforcement; ‘and allow banks share suspicions with each other’

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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.