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Money Laundering Bulletin RSS feed

EU moves to ban Russian oil imports

Online Published Date : 05 May 2022 | Appeared in issue: 294 - 04 May 2022

On4 May [2022], the European Commission set out proposals for a sixth package ofsanctions against Russia, which, if agreed by member states, would see importsof its oil to the European Union cease by year end. Crude oil purchases from Russia would..

Islamic State: still in business

Online Published Date : 05 May 2022 | Appeared in issue: 294 - 04 May 2022

The Islamic Statein Iraq and Syria (ISIS) is a shadow of its former self in the Middle East, but,having spawned global affiliates, is very much a going concern. PaulCochrane investigates a persistent terrorist financing threat. The fall and riseAt..

One fifth effective – FATF assessment

Online Published Date : 10 May 2022 | Appeared in issue: 294 - 04 May 2022

Denis O’Connor, a Fellow of both theInstitute of Chartered Accountants in England & Wales and the CharteredInstitute of Securities and Investment, was a member of the British Bankers’Association Money Laundering Committee from 2003-10 and a member of the JointMoney Laundering Steering Group’s Board and Editorial Panel between 2010 and2016. He has been a frequent speaker at industry conferences on financial crimeissues, both in the UK and abroad.

Artful endeavour

Online Published Date : 16 May 2022 | Appeared in issue: 294 - 04 May 2022

Tommaso Di Ruzza (https://www.linkedin.com/in/tommaso-di-ruzza-5014b91a7) is an AML/CFT senior consultant and former Director of the Financial Information Authority (AIF), Holy See/Vatican City State.

Wells Fargo Advisors pays US$7m for late SARs

Online Published Date : 21 May 2022 | Appeared in issue: 294 - 04 May 2022

The broker-dealer and investment adviser arm of Wells Fargo,the US banking group, has agreed to pay US$7m to resolve charges brought by theUS Securities and Exchange Commission (SEC) that it failed to make timelydisclosure of at least 34 suspicious..

Big money – cash movement across borders

Online Published Date : 23 May 2022 | Appeared in issue: 294 - 04 May 2022

Anonymous, fungible, almost never an audittrail, cash remains king for criminals, but inserting large sums into the financialsystem, especially in major economies, is a challenge so shipping currency tojurisdictions with weaker controls has clear,..

Collateral damage – AML & sanctions in war

Online Published Date : 25 May 2022 | Appeared in issue: 294 - 04 May 2022

Criminal money does not pose the same existentialthreat as an invading army but its corrosive flow will continue around andthrough any conflict. There will be delay, at least, as the bad actors adapt tocircumstance while a clear focus on sanctions..