First AML

Countdown to Compliance is officially open! Sign up now to get ahead of the Tranche 2 game. https://lnkd.in/g3mPGdbe In alliance with leading industry experts and AMLCOs across New Zealand and the UK, we’re launching a free educational series to help law firms, real estate agents and accounting firms navigate the new Tranche 2 AML/CTF regulations. You'll get: - Expert-led webinars with practical advice - Ready-to-use templates & tools - Real-world lessons from experienced compliance officers Experts include: EY, Luke Raven, Teal Compliance, Amy Bell, Actionstep, Elite Technology, One AML, Alpha AML Training and many more!

Happy Thursday all 👋 On Tuesday First AML hosted the 4th edition of the highly anticipated 𝗠𝗟𝗥𝗢𝘀 𝗔𝗻𝗼𝗻𝘆𝗺𝗼𝘂𝘀 event. Bringing together leading experts in the Anti Money Laundering, Legal, Risk & Compliance space, for an evening of open discussion on the industry's hottest topics. I was tasked with hosting and organising? 🎤 I’ll be honest, I was a little nervous. But once the conversations started flowing, I knew we were in for a great night. The feedback has been incredible! Organic connections made, discussions sparked and big questions tackled. The requests to take 𝗠𝗟𝗥𝗢𝘀 𝗔𝗻𝗼𝗻𝘆𝗺𝗼𝘂𝘀 on the road are rolling in, Belfast, Bristol, Liverpool, Manchester?🏙️ Where should we go next❓ A huge thank you to all of the wonderful guests who travelled all over the country (and beyond) to be there! 🙏 Special shout-out to my partner in 'financial' crime Jonathan Coleman for leading the discussion 🎤, May Rivas for your hospitality expertise🫅(best in the game) and L'Escargot Soho for the stunning venue and next level hospitality 🐌 🇫🇷 Oh, and even though he’s in New Zealand 🇳🇿 , our founder Bion Behdin still managed a cameo appearance… 🤷♂️ 🪄 P.S. The money isn't real! 💷 ❌ 💷 Here's to a great rest of the day🙏 #MLROanonymous

💡 Step-by-step guide to enrolling with AUSTRAC for soon-to-be-regulated businesses, including real estate, legal and accounting services. Enrolling with AUSTRAC isn’t just about ticking a compliance box; it helps safeguard businesses from financial crime, strengthens regulatory resilience, and supports global efforts to prevent illicit activity. Take a look at this step-by-step guide outlining who needs to enrol, why it matters and how to navigate the process. Find it here 👉 👇https://lnkd.in/gcGZ-wvk

If Russia was suddenly removed from sanctions lists overnight, would your firm resume business as usual? No warnings. No explanations. Just a blanket reversal of restrictions. Would you trust previously sanctioned individuals today simply because the law says so? Would you challenge the decision? Or would you see an opportunity others might hesitate to take? Compliance is more than ticking boxes; it’s about risk, ethics and long-term reputation. What would you do? Join us as we conduct this thought experiment and its real-world implications. 👉 👇 https://lnkd.in/gg5AXa3a

AI is everywhere. But how much of it is actually useful? We speak to hundreds of MLROs across the globe every day. We hear what’s working, what’s just hype and where firms are genuinely seeing AI change the game in AML compliance. Here’s what we’ve learned so far: ✅ AI isn’t replacing compliance teams, it’s making them stronger. Firms that embrace AI aren’t cutting people; they’re giving their teams better tools to fight financial crime faster and more effectively. ✅ Manual processes are broken. AI fixes some of them. Traditional compliance methods are too slow, too expensive and too easy to outmaneuver. AI is helping compliance teams keep up with criminals. ✅ Regulators are watching. Compliance is only getting tougher and firms that wait will be left behind. AI isn’t a futuristic nice-to-have, it’s already a key part of AML best practice, freeing up human expertise for the high-risk decisions that matter. Where should firms actually focus? Join Jonathan Coleman at 2.30pm on the Airia Innovation Stage today at #BLTF2025 as he breaks down what’s proven to work, what’s still evolving and what’s not worth your time.

Last week a high-flying Auckland businessman was found guilty of money laundering in connection with a $2m investment scam. How did it unfold? - An online investment scam - Off shore accounts - Money muling - "Recklessness" As the Crown Prosecutor said, "He was a mule, but a mule who saw red flags and carried on." This case shows that even in New Zealand, one of the world's most stringent AML legislative countries, money laundering still happens. Read the full breakdown of the million dollar mule in our latest True Crime article. 👉 👇 https://lnkd.in/dBi9dA6d

The UK Financial Intelligence Unit (UKFIU) has just released their quarterly SARs Reporter Booklet. We did a quick analysis of the trends over the last two years and found some fascinating results... 1. Key differences between 2023 and 2024 Many financial crime trends are consistent but several key shifts have emerged: *2023: Rise of digital fraud and money mules* - A surge in money mule networks, often targeting young people through social media scams. - Increased use of crypto for laundering. - Online investment scams and impersonation frauds became more widespread. - Exploitation of vulnerable individuals, particularly the elderly. *2024: Stronger enforcement and regulatory actions* - Significant increase in Account Freezing Orders (AFOs) and asset forfeitures. - More criminals caught due to failure to prove source of wealth. - Greater regulatory scrutiny on PEPs and professional ML enablers. - Law enforcement leveraging AI-driven monitoring tools for greater efficiency. These shifts highlight a transition from fraud prevention to more aggressive financial crime enforcement, with authorities taking a stronger stance on illicit wealth. 2. Key themes across the two years *Money laundering (ML) is more sophisticated* Criminals are increasingly using next level layering, structured transactions, TBML, mules, crypto and shell companies. *Fraud is still the most common financial crime* Criminals continue to exploit stolen identities, falsified documents and online deception to commit fraud. Fraudulent claims, fake businesses and Ponzi-style scams remain common, with digital platforms enabling greater reach. *Unusual transaction patterns and the growth of money mule networks* Rapid and frequent fund movements between unrelated accounts, cash-intensive transactions with no clear business purpose and the misuse of personal accounts by recruited money mules are key red flags. *Criminals caught due to inability to prove source of wealth* Individuals struggling to explain large deposits, discrepancies between declared income and transactions, and the collapse of fake businesses are leading to account freezes and prosecutions. Authorities are using SAR intelligence to challenge illegitimate financial activity. *Exploitation of vulnerable persons is rising* Elderly individuals, children and victims of human trafficking are at risk from fraudsters, money launderers and organised criminals. Romance scams, forced money muling and abuse of financial control mechanisms continue to grow. *More regulatory scrutiny and law enforcement actions* AFOs, DAMLs and international collaboration are putting more pressure on compliance professionals to detect and prevent illicit activity. 3. What should compliance teams do? - Enhance monitoring and detection to help identify suspicious behaviour faster. - Strengthen KYC and due diligence - Train employees and customers to help with prevention.

Last week Oscar Fransman from MinterEllison and Luke Raven sat down with us to talk all things AML. It was a very lively discussion with so many questions from the audience we couldn't answer them all. If you want to know what they had to say and hear what others are asking, watch the conversation on demand now. 👉 https://lnkd.in/gAv5q2ZB

Last week a Sydney woman was arrested for allegedly using fraudulent mortgages to launder nearly $7 million for organised crime. Her case exposes a major vulnerability in Australia’s financial system – and a loophole that criminals continue to exploit. How did she do it? - Property used as a vehicle to clean dirty money - Fraudulent home loans - Mortgage repayments funded by illicit tobacco profits This case highlights exactly why AML can't be left for banks alone. Real estate agencies and other tranche 2 entities are being included in Australia’s upcoming AML reforms for a very real reason. Read the full breakdown of the Xue Syndicate in our latest True Crime article. 👉 https://lnkd.in/gVVhyk8B 👇

New Zealand’s AML/CFT Act is evolving again. From 1 June 2025, Phase 3 of the amendments will introduce mandatory customer risk-rating for customer due diligence and redefine how online marketplaces are treated under the Act. Reporting entities must be prepared to assess and document customer risk levels, monitor online marketplace transactions and ensure compliance with the new $10,000 transaction threshold. With the deadline approaching, now is the time to update policies, train staff and adapt systems. Read our full analysis here 👇 👉 https://lnkd.in/gYtwC_S5