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NEWS: FATF considers major overhaul to ease regulatory burden on finance firms Of all the FATF-related news in the last few days, the one which snuck under the radar could perhaps be the most important for businesses. Don't miss our mid-week & AFC round-up from AML Intelligence James Treacy Stephen Rae Alisha H. Paul O'Donoghue #aml #amlintelligence #moneylaundering #fincrime #financialcrime #moneyval #ofac #sanctions #unodc #ecb #eba #europeancommission #fincen #fintrac #europol #eurojust #fbi #interpol #egmont #fiu #ukfinance #cifas #sfo #cams #fatf #bankofamerica #jpmorgan #banking #compliance #lawenforcement #police #hsbc

VALOR: Today we remember Mārtiņš Bunkus, the Latvian lawyer who paid with his life after exposing money laundering suspicions at a local bank. This week Mihails Ulmans, the former owner of Latvia’s LPB Bank, has been sentenced to 15 years in prison for orchestrating the 2018 murder when Mārtiņš was cut down in a hail of AK47 assault weapon gunfire. Senior Correspondent Paul O'Donoghue looks at this extraordinary case which finally ended in a Latvian courtroom on Tuesday. Read our mid-week Newsletter below which also highlights mooted changes for financial institutions being consulted on by #FATF. #followthemoney #aml #cft #banks #banking #fintech #finreg #regtech #regulators #compliance Stephen Rae James Treacy Alisha H. Conor Maher European Parliament European Commission European Central Bank European Public Prosecutor's Office (EPPO) European Anti-Fraud Office (OLAF) #Moneyval

Adrian Searle recently shared important messaging on the nature of economic crime, including the impact of technology. With the major role technology and Artificial Intelligence (AI) take on in different crime threats, it is vital to be aware of developments. Issue 26 of SARs in Action includes an interesting read on the role AI is playing in fraud https://bit.ly/3Wgs2cB #Partnership #AML

NEWS: FATF consults on changes to ease regulatory burden on banks and fintechs. The organization said mooted changes to Recommendation 1 are aimed at avoiding over-penalizing a company which has made an honest attempt to follow AML rules, but has been caught out due to a technical issue. FATF said that it hoped the change would “avoid overcompliance resulting from an only partial understanding of the risks”. We report. PLUS: U.S. charges operator of crypto exchange AurumXchange with laundering cash linked to notorious Silk Road #aml #amlintelligence James Treacy Stephen Rae Alisha H. Federica Taccogna Sarah Beth Felix Jim Lee #moneylaundering #fincrime #financialcrime #bitcoin #cryptocurrency #trafficking #narcotics #sanctions #ofac #ustreasury #fincen #fintrac #fatf #fbi #irs #moneyval #fie #egmont #banking #compliance #fentanyl #ecb #cifas #europeancommission #hsbc #standardchartered #citibank #barclays #bankofamerica #jpmorgan #tdbank #natwest #cams #acfe #ica #kyc #idv #moneymules

The European Anti-Financial Crime Summit will take place on May 7th of next year in Dublin, Ireland. This in-person event is set to be the stand-out Anti-Financial Crime Summit event of 2025. This unmissable conference takes place at the RDS Convention Centre near central Dublin and will feature regulators, policymakers, industry leaders and law enforcement chiefs. Leading speakers, panellists and sponsor partners will be announced soon. James Treacy Stephen Rae Alisha H. #aml #amlintelligence #moneylaundering #fincrime #financialcrime #regulation #risk #governance #centralbank #bankofengland #fed #ustreasury #fincen #fintrac #bankofengland #cifas #ofac #sanctions #banking #compliance #ecb #eba #ebf #europeancommission #fatf #unodc #moneyval #cams #acfe #oca #trafficking #lawenforcement #europol #fiu #eurojust #fbi #nypd #acams #kyc #pep #idv #payments #fraud #fraudprevention Paul O'Donoghue

WEEKEND READ: The "insider threat" to Europe's banks from staff on the pay of the "Black Axe" fraud and money laundering cartel. One bank worker was jailed for three years this week for facilitating money laundering by the west African crime conglomerate. But it may only be the tip of the iceberg, police fear - as 10 bank workers in Ireland alone are suspected "Black Axe" operatives. We have the full story now on 'AML Intelligence.' Are you or your organization Members yet? Don't miss out on the latest regulatory intelligence. Become an AMLi Member today. #followthemoney #aml #cft #banks #banking #fintech #finreg #regtech #regulators #compliance #AFC #FCC #AML Stephen Rae James Treacy Paul O'Donoghue Alisha H. Tom Downes Pat Lordan

BREAKING: #Algeria, #Angola, #Lebanon, #IvoryCoast added to #FATF's #greylist, #Senegal removed, while #China #Brazil help #Russia stay off #blacklist. James Treacy Stephen Rae Paul O'Donoghue Alisha H. Sarah Beth Felix Lauren Kohr Oonagh van den Berg (Lady) 🐦🔥 Paul Coady Jim Lee Kevin Newe #aml #amlintelligence #fatf #fincen #ofac #ustreasury #europeancommiccion #un #unodc #fbi #sanctions #trafficking #russia #blacklist #banking #compliance #lebanon #cams #acfe #ica #fincrime #financialcrime #moneylaundering #dirtymoney #crypto #payments #pep #kyc

BREAKING: #Algeria, #Angola, #Lebanon, #IvoryCoast added to #FATF's #greylist, #Senegal removed, while #China #Brazil help #Russia stay off #blacklist. James Treacy Stephen Rae Paul O'Donoghue Alisha H. Sarah Beth Felix Lauren Kohr Oonagh van den Berg (Lady) 🐦🔥 Paul Coady Jim Lee Kevin Newe #aml #amlintelligence #fatf #fincen #ofac #ustreasury #europeancommiccion #un #unodc #fbi #sanctions #trafficking #russia #blacklist #banking #compliance #lebanon #cams #acfe #ica #fincrime #financialcrime #moneylaundering #dirtymoney #crypto #payments #pep #kyc