CTF

Gaps in the international oversight of offshore virtual-asset firms have made it possible for criminals to commit large-scale fraud, money laundering, and terrorism financing beyond the reach of most supervisory bodies, according to FATF.

Banks and investors are failing to adequately screen for illegal mining risks even when operating in sectors highly exposed to the trade, according to a report by the World Wide Fund for Nature and financial-crime risk platform Themis.

A U.S. federal judge has dismissed a civil lawsuit that sought to hold Binance and its founder, Changpeng Zhao, liable for transactions allegedly linked to terrorist groups behind 64 attacks worldwide.

The United States and Ecuador have begun joint military operations in the South American nation against “designated terrorist organizations,” the Pentagon said Tuesday night.

The Financial Action Task Force (FATF) said that stablecoins are now commonly used in money laundering, terrorist financing, and proliferation financing schemes, and warned that peer-to-peer transfers via unhosted wallets represent a key vulnerability for the crypto ecosystem. 

The UK’s current system of supervisors overseeing the anti-money-laundering (AML) programs of law firms, accountancies, and other professional bodies is failing to take “sufficiently dissuasive disciplinary measures” against those that fail to meet compliance standards, according to a new report. 

Luxembourg authorities raided the premises of EFG Bank last week as part of a preliminary investigation into the institution’s compliance with anti-money laundering (AML) and counterterrorism financing (CTF) laws.

Guernsey’s government is weighing new transparency rules that would let approved applicants access information on the beneficial owners of companies registered on the island.

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Thursday proposed a Section 311 “special measure” that, if finalized, would cut MBaer Merchant Bank AG off from the American financial system.

A senior Treasury Department official is preparing to resign after privately raising objections to a White House-backed initiative aimed at alleged fraud tied to the Somali immigrant community in Minnesota.