MONEYVAL Outlines Challenges in Curtailing Criminal Misuse of Crypto
The Council of Europe’s anti-money-laundering body on Tuesday published a new report on how criminals exploit crypto-assets to launder illicit proceeds, fund terrorism, and evade sanctions.
EU’s New AML Supervisor Set for Full Launch in 2028
The European Union’s new Anti-Money Laundering Authority said it is on track to become fully operational in 2028, setting out a multi-year plan that flags emerging illicit-finance threats ranging from crypto-assets to “novel payment channels.”
OFAC Levies Sanctions on Hamas-Linked Charities
The U.S. is targeting Hamas’ covert support network, including six Gaza-based nonprofits that purportedly masquerade as medical charities while supporting the Palestinian group’s militant wing.
U.S. Justice Department Closes Swedbank Case without Enforcement
The U.S. Department of Justice has closed its anti-money laundering (AML) investigation into Swedbank AG without bringing an enforcement action, according to the Swiss lender.
White House Designates Muslim Brotherhood Branches as Terrorism Groups
The Trump administration designated three Middle Eastern branches of the Muslim Brotherhood as terrorist organizations, claiming the groups contribute to regional instability and violence.
AI Could Put More than 200k European Bank Jobs at Risk by 2030: Morgan Stanley
European banks could cut more than 200,000 jobs over the next five years as lenders accelerate adoption of artificial intelligence and continue closing branches, according to estimates cited by the Financial Times.
Australia’s Bendigo Bank Dinged after Deloitte Flags AML Weaknesses
Australian regulators took coordinated action on Thursday to address weaknesses in the anti-money laundering and risk-management controls of Bendigo and Adelaide Bank, including the imposition of a A$50 million operational-risk capital charge.
Europe’s AMLA Outlines Risk-Assessment, Supervision Criteria
The EU’s Anti-Money Laundering Authority (AMLA) on Thursday published draft technical standards intended to unify how financial supervisors assess risks and how the supervisory body will select the “most complex” high-risk institutions and groups it will directly oversee.
U.S. to Designate Venezuelan Government as Terror Group, Blockade Sanctioned Oil Tankers
U.S. President Donald Trump on Tuesday vowed to designate Venezuela’s government a “Foreign Terrorist Organization” (FTO) and ordered a “total and complete” blockade of sanctioned oil tankers moving into and out of the country.
NZ Central Bank Asks Court to Fine ASB for AML Shortcomings
The Reserve Bank of New Zealand (RBNZ) has filed civil proceedings in the High Court against ASB Bank, alleging breaches of core requirements under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act dating from at least December 2019.