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Hello, and welcome to episode 126 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. After a sequence of lengthy episodes of the podcast, it’s nice to have a shorter episode from time-to-time to keep everyone happy. On sanctions, the UK has updated its Iran sanctions regime, and the US has issued a host of new designations for human rights abuses and cyber-crimes. On money laundering news, indications from China that the ruling party is looking to update its anti-money laundering regime to address the risk posed by crypto. On fraud, some Covid-19 fraud from the UK, and the FCA has made a public statement on its anti-fraud approach. Of course, there is also a round-up of cyber-crime news this week.
A transcript of this podcast is available at www.crimes.financial, with links to the stories.
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Hello, and welcome to episode 125 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, a mass of action from the UK and US. In the UK, action against the shadow fleet carrying Russian oil as part of sanctions evasion, while in the US, sanctions against allies of Venezualan president Maduro have been announced by OFAC. On bribery and corruption, GRECO reports on Kazakhstan, while in the UK Transparency International has revealed the high levels of corruption in Covid-19 PPE contracts. On money laundering in the UK, the first FCA prosecution against the owner of unlawfully operated crypto ATMs, and in Australia, the government has announced reforms to its anti-money laundering regime. There’s more Covid-19 fraud from the US and UK, the FBI has published its Cryptocurrency Fraud Report, and Spotlight on Corruption questions whether the National Crime Agency is on its knees. There is also, as usual, a round-up of this week’s cyber-attack news.
A transcript of this podcast is available at www.crimes.financial, with links to the stories.
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Hello, and welcome to episode 124 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, the suspension of some export licences to Israel, and the detention of an aircraft believed to belong to the Venezuelan president. On corruption, in Ukraine the first deputy of the National Anti-Corruption Bureau has been dismissed, and the former head of Lebanon’s Central Bank is under investigation for embezzlement. Much of the money laundering news churns around the FATF, while new AML rules have been agreed in the UAE. On fraud, big news out of the UK with the Financial Ombudsman Service reporting on scam volumes, while the Payment Systems Regulator is consulting (again) on the reimbursement level for APP fraud. In other financial crime news, the Financial Conduct Authority has published a series of annual updates alongside its Annual Report and Accounts, while there is also a round-up of this week’s cyber-attack news.
A transcript of this podcast is available at www.crimes.financial, with links to the stories.
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Hello, and welcome to episode 123 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, the US has made a host of additional designations against Russian individuals and entities. On corruption, there is more out of China and its fight against corruption at all levels of society, and a Report from GRECO on Italy. The money laundering news comes from the US, and also from Nigeria, where the government has made assurances on its strategy for exiting the FATF ‘Grey List’. The fraud news from the UK concerns Covid-19 fraudsters and there is a report from New Zealand concerning reductions in headcount at the Serious Fraud Office. In other financial crime news, a research paper on the future of the UK Serious Fraud Office, and we end with cyber-attack news respecting transportation portals.
A transcript of this podcast is available at www.crimes.financial, with links to the stories.
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Hello, and welcome to episode 122 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, in the US convictions for sanctions evasion, and further designations, while in Switzerland, there is further alignment between the country and the EU sanctions regime against Russia. On bribery and corruption, a report from the UN on the judicial system in the Kurdistan region of Iraq, new anti-fraud and corruption laws in Hungary, as well as further efforts in Ukraine to clean up its corruption image. The money laundering news comes in the form of a new paper from the FACT Coalition on the subject of Environmental crimes and illicit finance, while fraud news focuses on Covid-19 fraud both in the UK and US. In other financial crime news, the National Crime Agency (‘NCA’) has published its National Strategic Assessment 2024, and there is a brief round-up of some of this week’s cyber crime news.
A transcript of this podcast is available at www.crimes.financial, with links to the stories.
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Hello, and welcome to episode 121 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, designations from the US, and the monthly update from the Centre for Research on Energy and Clear Air on Russian fossil fuel exports. Money laundering news comes from the US where corporate beneficial ownership continues to take the focus of many working across compliance. In other financial crime news, the SFO has published its Annual Report and Accounts for 2023 – 2024, while Companies House in the UK has published its Business Plan for 2024 – 2025. There’s also a round-up of this week’s cyber crime news, with news from the UK and US regarding takedowns of cyber-crime gangs.
A transcript of this podcast is available at www.crimes.financial, with links to the stories.
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Hello, and welcome to episode 120 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, there is the typical range of designations and updates across the principal sanctions-imposing bodies. On bribery and corruption, more on the ‘tuna bonds’ case only this time from the US with a conviction in a criminal action. The money laundering news comes in the shape of output from the Counter ISIS Finance Group. On fraud, from the US action against bank fraudsters, and from the EU, action against investment scammers. The National Crime Agency in the UK has announced the outcome of its action against the wife of former Azerbaijan banker, Jahangir Hajiyev, and news of a possible massive cyber breach in the US.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Attorney-General’s Department, 2024 Australian Dialogue on Bribery and Corruption.
BitcoinBlog.de, FATF: Cryptocurrencies continue to be used for terrorism financing.
Council of the European Union, Belarus: EU lists further 28 individuals for participation in internal repression.
Department for Education, Policy paper: DfE counter-fraud strategy overview: 2024 to 2027.
Department of Justice, Six people charged in bank fraud scheme involving an insider sharing account information that caused more than $345,000 in theft.
Department of Justice, Six Members of Transnational Fraud Network Indicted for Scheme to Steal Millions from American Consumers’ Bank Accounts.
Department of Justice, Former Finance Minister of Mozambique Convicted of $2B Fraud and Money Laundering Scheme.
Department of State, Reinforcing Sanctions on Former Paraguayan President Horacio Cartes.
Department of the Treasury, Counter ISIS Finance Group Leaders Issue Joint Statement.
Eurojust, Financial scammers detained following actions coordinated by Eurojust.
Europol, Corrupt Spanish lawyer arrested for €4.5 million fishery project bribe in Equatorial Guinea.
Financial Action Task Force, Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers.
Information Commissioner’s Office, Provisional decision to impose £6m fine on software provider following 2022 ransomware attack that disrupted NHS and social care services.
Insolvency Service, Bedfordshire construction contractor banned as company director after Covid loan abuse.
National Crime Agency, Luxury properties forfeited after six year NCA investigation.
Norton Rose Fulbright, Financial Crime Spotlight: Money Laundering Controls in the Art Market.
Norton Rose Fulbright, Financial Crime Spotlight: Money Laundering Controls in the Gambling Sector.
Office of Financial Sanctions Implementation, General Licence: Payments to Local Authorities INT/2023/3781228.
Office of Financial Sanctions Implementation, General Licence – East-West United Bank – Insolvency related payments and activities INT/2024/5028385.
Office of Financial Sanctions Implementation, General Licence: Permitted Payments to UK Insurance Companies INT/2022/2009156.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Belarus.
Office of Foreign Assets Control, Treasury Designates Tobacco Company for Supporting Paraguay’s Sanctioned Former President.
Pinsent Masons, ‘Failure to prevent bribery’ offence will soon take effect in Australia.
Royal United Services Institute, What’s the Point of the Financial Action Task Force Standards?
Spotlight on Corruption, NCA forfeits over £17 million in luxury properties from first-ever McMafia order.
Student Loan Company, SLC Economic Crime Unit Statement of Intent.
Transparency International, Transparency International UK welcomes forfeiture of millions of pounds of assets from Azerbaijan banker, Jahangir Hajiyev.
UK Financial Intelligence Unit, SARs Reporter Booklet August 2024.
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Hello, and welcome to episode 119 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. There has been an unusual uptick, certainly for the summer months, in financial crime news this week. On sanctions this week, the NCA secures its first sanctions-related forfeiture, and the EU and US have added to their designations. On bribery and corruption, the SFO in the UK has announced charges against five former executives of Glencore, and the High Court has some tough words regarding the behaviour of professionals and institutions in the ‘tuna bond’ action brought by Mozambique. On fraud news, there’s more Covid-19 recovery fund abuse from the US, and the imprisonment of a tech scammer. There is also a decent amount of market abuse news from the SEC in the US, and the Securities and Futures Commission in Hong Kong, and in other news, the NCA in the UK has announced a new data sharing scheme and the SFO has published its annual report and accounts. There is also a round-up of the cyber-attack news this week.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Cayman Islands, Beneficial Ownership Transparency Act 2023.
Commodities and Futures Trading Commission’s Office of Customer Education and Outreach, CFTC Warns Customers to Watch for Follow-on Frauds.
Council of the European Union, Sanctions against terrorism: Council renews the EU Terrorist List and designates a new entity.
Department of Justice, Caledonia man sentenced for COVID loan fraud.
Department of Justice, KC Woman Pleads Guilty to $900,000 Covid Fraud Scheme.
Department of Justice, United States v. Andrew Left.
Department of Justice, Leader Of Tech Support Fraud Scheme Sentenced To Seven Years In Prison.
Department of Justice, Deputy Attorney General Lisa Monaco Delivers Remarks on New Corporate Whistleblower Awards Pilot Program.
FinCEN, FinCEN Issues Notice to Financial Institution Customers on Beneficial Ownership Information Requirements.
FinCEN, Notice to Customers: Beneficial Ownership Information Reference Guide.
Foreign, Commonwealth and Development Office, The UK Sanctions List: Search Function.
Information Commissioner’s Office, Reprimand: The Electoral Commission.
National Crime Agency, NCA recovers £780,000 in the first UK forfeiture of sanctioned funds.
National Crime Agency, Ground breaking public private partnership launched to identify criminality using banking data.
National Crime Agency, Cross-System Professional Enablers Strategy 2024-2026.
National Crime Agency, NCA shuts down major fraud platform responsible for 1.8 million scam calls.
Ocorian, Cayman Islands modernises beneficial ownership regime to align with global standards.
Office of Financial Sanctions Implementation, General Licence – Continuation of Business of Evraz Plc’s North American Subsidiaries: INT/2022/1710676.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Yemen.
Office of Financial Sanctions Implementation, Guidance: OFSI General licence INT/2024/4919848.
Office of Foreign Assets Control, Treasury Targets Iranian Missile and UAV Procurement Facilitators.
Office of Foreign Assets Control, Treasury Targets Houthi Weapons Procurement Networks.
Securities and Exchange Commission, SEC Charges Andrew Left and Citron Capital for $20 Million Fraud Scheme.
Securities and Exchange Commission, SEC Charges Founder of Social Media Company “IRL” with $170 Million Fraud.
Securities and Futures Commission of Hong Kong, Former banker ordered to disgorge $3 million illegal gains from insider dealing.
Serious Fraud Office, Annual Report & Accounts 2023-24 (press release).
Serious Fraud Office, Annual Report and Accounts 2023-2024.
Serious Fraud Office, SFO charges five former Glencore employees.
Spotlight on Corruption, New report finds UK’s enforcement of sanctions is “all bark and no bite” (press release).
Spotlight on Corruption, All Bark and No Bite: Taking Stock of the UK’s Enforcement of Sanctions.
UK government, National Crime Agency main estimate memorandum 2024 to 2025.
UK judgments, The Republic of Mozambique v Credit Suisse International and Others [2024] EWHC 1957 (Comm).
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Hello, and welcome to episode 118 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, designations from the US, and extension of existing sanctions from the EU. On bribery and corruption, the anti-corruption body in Zambia is cleared out, and another pressure group gives its two penn’orth on the new Labour government’s approach to corruption. The money laundering news comes from the IMF, the US Office of the Comptroller of the Currency, and MONEYVAL has published a report on Jersey. There is also a round-up of the cyber-attack news this week.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Council of the European Union, Russia’s war of aggression against Ukraine: Council renews economic sanctions for a further 6 months.
Europol, Internet Organised Crime Threat Assessment (IOCTA) 2024.
Europol, Internet Organised Crime Threat Assessment (IOCTA) 2024 (Report).
International Monetary Fund, Panama: Financial Sector Assessment Program - Technical Note on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).
MONEYVAL, MONEYVAL acknowledges Jersey’s progress in improving measures to combat money laundering and financing of terrorism.
MONEYVAL, Anti-money laundering and counter-terrorist financing measures Jersey: Fifth Round Mutual Evaluation Report.
National Crime Agency, NCA infiltrates world's most prolific DDoS-for-hire service.
National Cyber Security Centre, "If you have knowledge, let others light their candles in it." (Blog post).
National Cyber Security Centre, New legislation will help counter the cyber threat to our essential services (Blog post).
New Zealand Serious Fraud Office, Phone scam.
Office of Financial Sanctions Implementation, GENERAL LICENCE - Russian Banks – UK subsidiaries – Guernsey subsidiary – EU subsidiaries - Basic needs, routine holding and maintenance, the payment of legal fees and insolvency related payments: INT/2022/1280876.
Office of Financial Sanctions Implementation, General licence - INT/2022/1280876.
Office of Foreign Assets Control, Treasury Targets PRC-based Procurement Network Supporting DPRK Ballistic Missile and Space Programs.
Office of Foreign Assets Control, Treasury Implements REPO for Ukrainians Act Reporting Requirement.
Office of Foreign Assets Control, Treasury Sanctions Rebel Alliance Driving Instability in the Democratic Republic of the Congo.
Solicitors Regulation Authority, Annual report by the Money Laundering Reporting Officer (MLRO) for the year ended 5 April 2024 (Annex).
Spotlight on Corruption, Thin gruel for anti-corruption campaigners – the new government’s King’s Speech.
UKFIU, SARs in Action: Issue 26.
US Department of Justice, Leader of $200 Million Ponzi Scheme Pleads Guilty to Mail and Wire Fraud Conspiracy and Faces 20 Years’ Imprisonment.
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Hello, and welcome to episode 117 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, designations from the US, and extension of existing sanctions from the EU. On bribery and corruption, the UK Anti-Corruption Coalition has published its post-election agenda, urging the new Labour government to take action across a range of areas. On money laundering, the Financial Conduct Authority has PEPs and their treatment by financial institutions in its sights. There is also a round-up of the cyber-attack news this week.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Council of the European Union, Extremist Israeli settlers in the occupied West Bank and East Jerusalem, as well as violent activists, blocking humanitarian aid to Gaza: five individuals and three entities sanctioned under the EU Global Human Rights Sanctions Regime.
Council of the European Union, Iran: Council prolongs EU restrictive measures in view of Iran’s military support for Russia’s war of aggression against Ukraine and for armed groups and entities in the Middle East and the Red Sea region.
Financial Conduct Authority, FCA calls on firms to improve treatment of politically exposed persons (PEPs).
Financial Conduct Authority, Review: The treatment of politically exposed persons.
Financial Conduct Authority, GC24/4: Proposed amendments to Guidance on the treatment of politically exposed persons.
Financial Conduct Authority, Court sets dates for ‘finfluencer’ trials.
Financial Conduct Authority, Three charged over CFD trading pension fraud.
National Cyber Security Centre, Cyber Essentials 'Pathways': From experiment to proof of concept.
Office of Financial Sanctions Implementation, Guidance: UK Financial Sanctions FAQs.
Office of Foreign Assets Control, Treasury Maintains Pressure on Houthi Illicit Shipping and Finance Schemes.
Royal United Services Institute, Sanctions and the Next Financial Crisis.
UK Anti-Corruption Coalition, Time to ramp up the fight against corruption.
UK House of Commons Library, Sanctions against countries supporting Russia’s invasion of Ukraine.
US Department of Justice, Two Foreign Nationals Plead Guilty to Participating in LockBit Ransomware Group.
US Department of State, United States Imposes Sanctions Targeting Iran’s Chemical Weapons Research and Development.
US Department of the Treasury, Treasury and the Financial Services Sector Coordinating Council Publish New Resources on Effective Practices for Secure Cloud Adoption.
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Hello, and welcome to episode 116 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Money laundering takes centre stage again this week with stories from Europe and the UK. On fraud news, a range of actions from the European Public Prosecutor’s Office across Romania, Malta, and Italy. The sanctions news has new designations from the US and Switzerland, and the UK has updated sanctions guidance for a number of countries. There is also a round-up of the cyber-attack news this week.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
AUSTRAC, Spotlight on our work with international partners.
AUSTRAC, Discover purpose behind the Fintel alliance.
Bank of England, A multi-tool for cross-border payments: the power of Legal Entity Identifiers − speech by Victoria Cleland.
Commonwealth, New Commonwealth model law to help countries regulate virtual assets.
Council of Europe, Georgia: anti-corruption body calls for stronger oversight and accountability in top executive functions and the police.
Council of Europe, Fifth Round Evaluation: Georgia.
Delegation of the European Union to Namibia, EU supports Namibia to tackle money laundering, terrorist financing and related crimes.
Eurojust, Eurojust supports searches into bribery and money laundering.
European Public Prosecutor’s Office, Romania: Three individuals and five companies indicted for €1 million fraud involving IT project.
European Public Prosecutor’s Office, Malta: Eleven charged in investigation into customs fraud and corruption of public officials.
European Public Prosecutor’s Office, Italy: EPPO seizes assets in €1.3 million fraud and money laundering investigation.
Europol, French and Spanish authorities crack down on Chinese money laundering gang.
Financial Action Task Force, Public Consultation on Recommendation 16 on Payment Transparency.
Financial Action Task Force, Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers.
Financial Conduct Authority, Quarterly Consultation CP24/11 No 44.
National Crime Agency, National Crime Agency leads international operation to degrade illegal versions of Cobalt Strike.
National Cyber Security Centre, The NCSC and partners issue alert about evolving techniques used by China state-sponsored cyber attackers.
Office of Foreign Assets Control, Cyber-related Designation Removal; Russia-related Designation Removal; Issuance of Venezuela General License 40C.
Organisation for Security and Cooperation in Europe, OSCE Facilitates Training Course on Investigation of Corruption in Chisinau.
The Federal Council, Ukraine: Switzerland adopts further sanctions against Russia.
UK government, Zimbabwe sanctions guidance.
UK government, Venezuela sanctions guidance.
UK government, Guinea-Bissau sanctions guidance.
UK government, Bosnia and Herzegovina sanctions guidance.
UK government, Nicaragua sanctions guidance.
UK government, Global Anti-corruption sanctions guidance.
UK government, Global Human Rights sanctions guidance.
United Nations Office on Drugs and Crime, Bribery becoming less accepted in Nigeria, says new report on corruption patterns and trends in the country.
United Nations Office on Drugs and Crime, Corruption in Nigeria: Patterns and Trends.
US Department of State, Sanctions on Individuals and Entities Contributing to Violence and Instability in the West Bank.
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Hello, and welcome to episode 115 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Money laundering takes centre stage this week with Singapore announcing updates to National Risk Assessments (‘NRAs’), and the FATF announcing public consultation on its NRAs. The fall-out from the FATF Singapore Plenary last week with a response from South Africa respecting its timetable for removal from the ‘Grey List’. On sanctions, here is the usual mix of updates to designations and licences, and on bribery and anti-corruption an update on Andorra from GRECO. We then end with a round-up of the cyber-attack news this week.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Council of Europe, Andorra: GRECO report on preventing corruption in top executive functions and the police.
Department of Justice, Vice President of Kansas Company Pleads Guilty to Crimes Related to Scheme to Illegally Export U.S. Avionics Equipment to Russia and Russian End Users.
EU Directorate-General for Trade, EU protects sanctions against Russian and Belarussian investors under Energy Charter Treaty.
European Banking Authority, The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets.
European Commission, EU further extends the scope of sanctions on Belarus to fight circumvention.
European Council, Russia's war of aggression against Ukraine: EU lists two individuals and four entities for circumventing EU sanctions and materially supporting the Russian government.
European Council, Belarus’ involvement in Russia’s war of aggression against Ukraine: new EU restrictive measures target trade, services, transport and anti-circumvention.
European Securities and Markets Authority, New MiCA rules increase transparency for retail investors.
Federal Bureau of Investigation, Private Industry Notification: Expansion of US Renewable Energy Industry Increases Risk of Targeting by Malicious Cyber Actors.
Federal Register, Reimposing Certain Sanctions with Respect to Iran.
Financial Action Task Force, Public consultation on FATF Money Laundering National Risk Assessment Guidance Update.
Institute of Chartered Accountants in England and Wales, ICAEW joins forces with the International Federation of Accountants and the Basel Institute to offer anti-corruption guidance for accountants.
Monetary Authority of Singapore, Singapore Refreshes the Terrorism Financing National Risk Assessment and National Strategy for Countering the Financing of Terrorism.
National Health Service, Update on cyber incident: Clinical impact in south east London – Thursday 4 July.
Office of Financial Sanctions Implementation, General licences - INT/2024/4423849, INT/2023/3074680, INT/2022/2470156 and INT/2022/2470056.
Office of Financial Sanctions Implementation, General Licence – Sale, divestment and transfer of financial instruments held by the National Settlement Depository and payment of safe keeping fees to the National Settlement Depository INT/2024/4919848.
Office of Financial Sanctions Implementation, General Licence: Payments for Visa Application Services INT/2024/4907888.
Office of Financial Sanctions Implementation, Guidance: Russian Oil Services ban.
Office of Financial Sanctions Implementation, General Licence – Oil Price Cap: Exempt Projects and Countries INT/2022/2470156.
Office of Financial Sanctions Implementation, General Licence: Payments to Revenue Authorities INT/2024/4881897.
Office of Foreign Assets Control, Treasury Sanctions Mexico- and China-Based Money Launderers Linked to the Sinaloa Cartel.
South African Government, Treasury on Financial Action Task Force greylisting.
The Wolfsberg Group, The Wolfsberg Group Statement on Effective Monitoring for Suspicious Activity.
The Wolfsberg Group, The Wolfsberg Group Statement on Effective Monitoring for Suspicious Activity (Document).
US Department of State, Imposing Sanctions on Entities and Vessels Trading in Iranian Petroleum or Petrochemical Products.
US Financial Crimes Enforcement Network, Financial Action Task Force Identifies Jurisdictions with Anti-Money Laundering, Combating the Financing of Terrorism, and Counter-Proliferation Finance Deficiencies.
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Hello, and welcome to episode 114 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. A quieter than typical week this week, but there will be no complaints from me about that. A range of sanctions designations, including of those allies to the Kaspersky software provision. In the first bit of news respecting Turkey this week, the OECD has reported on Turkey’s anti-foreign bribery enforcement, while on money laundering, the big news is the FATF Singapore Plenary, at which Turkey’s fate and place on the ‘Grey List’ was finally announced. There are a couple of fraud stories, and a brief cyber-attack news.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Council of Europe, 14th package of sanctions on Russia's war of aggression against Ukraine: EU lists additional 69 individuals and 47 entities.
Council of Europe, Russia’s war of aggression against Ukraine: comprehensive EU’s 14th package of sanctions cracks down on circumvention and adopts energy measures.
Council of Europe, Cyber-attacks: six persons added to EU sanctions list for malicious cyber activities against EU member states and Ukraine.
Eurojust, Eurojust leads efforts to step up judicial response to money laundering and asset recovery.
European Banking Authority, The EBA welcomes the entry into force of the framework establishing the anti-money laundering and countering the financing of terrorism authority.
European Commission, EU adopts 14th package of sanctions against Russia for its continued illegal war against Ukraine, strengthening enforcement and anti-circumvention measures.
Financial Action Task Force, Vietnam's progress in strengthening measures to tackle money laundering and terrorist financing.
Financial Action Task Force, Palau's progress in strengthening measures to tackle money laundering and terrorist financing.
Financial Action Task Force, Outcomes FATF Plenary, 26-28 June 2024.
Financial Action Task Force, Women in FATF and the Global Network.
Financial Conduct Authority, Teamwork: A Smart way to tackle financial crime.
Government of Singapore, Singapore Publishes National Asset Recovery Strategy.
Information Commissioner’s Office, Blog: Addressing concerns on the use of AI by local authorities.
Interpol, USD 257 million seized in global police crackdown against online scams.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, General licence - INT/2023/2711256.
Office of Financial Sanctions Implementation, General Licence: Payments for Statutory Audits INT/2024/4888228.
Office of Foreign Assets Control, Treasury Sanctions Kaspersky Lab Leadership in Response to Continued Cybersecurity Risks.
Office of Foreign Assets Control, Treasury Targets Shadow Banking Network Moving Billions for Iran’s Military.
Office of Foreign Assets Control, Counter Terrorism and Iran-related Designations; Counter Narcotics Designations Removals (Specially Designated Nationals List Update).
Official Journal of the European Union, Council Decision (CFSP) 2024/1779 of 24 June 2024 amending Decision (CFSP) 2019/797 concerning restrictive measures against cyberattacks threatening the Union or its Member States.
Organisation for Economic Cooperation and Development, Türkiye’s foreign bribery enforcement remains poor and needs urgent overhaul despite some legislative improvements, says OECD Working Group on Bribery.
Organisation for Security and Cooperation in Europe, OSCE hosts panel discussion on asset recovery at the International Anti-Corruption Conference in Vilnius.
Spotlight on Corruption, The unfinished business of accountability for Glencore’s corruption.
The Guardian, DWP algorithm wrongly flags 200,000 people for possible fraud and error.
Transparency International, Seven Steps to Restore Trust in the Political Class.
United Nations Development Programme, Prime Minister Launches Revised National Anti-Corruption Strategy for Solomon Islands.
US Department of Industry and Security, Commerce Department Prohibits Russian Kaspersky Software for U.S. Customers.
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Hello, and welcome to episode 113 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Another exceptionally busy week for financial crime this week. In the EU, the 14th package of sanctions against Russia has been agreed, while there are further designations by the UK, US, and Canada. In the UK, there are more releases of submissions to the Treasury’s review of the Money Laundering Regulations, and Hungary and Gibraltar get their money laundering follow-up reports from MONEYVAL. The market abuse comes from the UK, with an update on the charges against the finfluencers, and fines from the Swedish and US authorities against a market and a trading company. There is also a round-up of the cyber-attack news this week.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
AUSTRAC, Welcome to our refreshed website.
Centre for Research on Energy and Clean Air, May 2024 — Monthly analysis of Russian fossil fuel exports and sanctions.
Check Point Research, Threat Intelligence Report.
Commodities and Futures Trading Commission, CFTC Orders Trafigura to Pay $55 Million for Fraud, Manipulation and Impeding Communications with the CFTC.
Financial Conduct Authority, 'Finfluencers’ charged for promoting unauthorised trading scheme.
Financial Conduct Authority, Update on the FCA’s review of treatment of Politically Exposed Persons.
Finansinspektionen, Nasdaq Stockholm receives a remark and an administrative fine.
FINMA, FINMA proceedings: HSBC Private Bank (Suisse) SA violated money laundering regulations.
Francine Pickup, Corruption is criminal, immoral, and the ultimate betrayal of public trust.
Government of Canada, Canada announces additional sanctions against Russian government for its responsibility in death of Alexei Navalny.
Ministry of Finance, Singapore Publishes Updated Money Laundering National Risk Assessment.
Ministry of Finance, Money Laundering Risk Assessment Report 2024.
MONEYVAL, Gibraltar improves compliance with international agreements on money laundering and terrorist financing.
MONEYVAL, Hungary improves its measures in relation to virtual assets and virtual assets service providers.
OECD, The OECD Working Group on Bribery announces new Chair.
Office of Financial Sanctions Implementation, General Licence - Payments to the FCA INT/2024/4836676.
Office of Foreign Assets Control, Treasury Targets Houthi Weapons Procurement and Funding Networks.
Office of Foreign Assets Control, Treasury Targets Milorad Dodik’s Network of Wealth Generating Companies, Including Prointer.
Official Journal of the European Union, Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing ((EU) 2024/1624) (AML Regulation).
Official Journal of the European Union, Regulation establishing the Anti-Money Laundering Authority (AMLA) ((EU) 2024/1620) (AMLA Regulation).
Official Journal of the European Union, Sixth Money Laundering Directive ((EU) 2024/1640) (MLD6).
S&P Global, Russia's shadow fleet − Formation, operation and continued risks for sanctions compliance teams.
Spotlight on Corruption, Spotlight on Corruption’s submission to HM Treasury’s consultation: ‘Improving the effectiveness of the Money Laundering Regulations’.
Starling Bank, Annual Report and Accounts 2024.
The White House, Statement from National Security Advisor Jake Sullivan on the Global Effort to Strengthen the Cybersecurity of Energy Supply Chains.
US Department of Energy, Supply Chain Cybersecurity Principles.
Wolfsberg Group, Wolfsberg Response to the MLRs Consultation (press release).
Wolfsberg Group, Consultation on Improving the effectiveness of the Money Laundering Regulations (Submission).
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Hello, and welcome to episode 112 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. I fear that things are getting busy again, as this week is typical of so many recent weeks for this podcast in that there is a wealth of news. The sanctions news comes in the form of a host of stories concerning oil exports from both Iran and Russia, with the latter being the subject of an investigation into possible sanctions evasion in relation to the oil price cap. On fraud news, action taken across the European Union against fraudsters abusing EU funds and citizens by an old-fashioned Ponzi scheme. On money laundering news, in the UK, two bodies have published their submissions to HM Treasury’s consultation on the Money Laundering Regulations. In other news, the European Union Innovation Hub for Internal Security, with assistance from Europol and others, has published its first report on encryption, and finally, there is a round-up of the cyber-attack news this week.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Association for Financial Markets in Europe, Consultation Response: AFME response to HM Treasury’s consultation on improving the effectiveness of the Money Laundering Regulations.
Centre for Finance, Innovation and Technology, CFIT Forms Industry Coalition – ‘Fighting Economic Crime Through Enhanced Verification’.
Centre for Research on Energy and Clean Air, War profiteering: Eight UK-insured tankers violate price cap, boosting Kremlin revenues by GBP 87 mn.
Chartered Institute of Taxation, Improving the effectiveness of the Money Laundering Regulations Response by the Chartered Institute of Taxation.
Eurojust, Eurojust supports authorities in dismantling EUR 113 million fraudulent investment scheme.
European Public Prosecutor’s Office, EPPO conducts searches in Romania and Spain in probe into €10 million fraud.
European Public Prosecutor’s Office, Italy: EPPO arrests a third suspect in investigation into €50 million VAT fraud.
European Union Innovation Hub for Internal Security, First Report on Encryption.
Europol, First Report on Encryption.
HM Treasury, Improving the effectiveness of the Money Laundering Regulations.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Myanmar.
Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Myanmar.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?
Office of Financial Sanctions Implementation, Personal Staff Payments Licensing Guidance.
Office of Foreign Assets Control, Treasury Targets Companies and Vessels Behind Illicit Houthi Shipments.
Office of Foreign Assets Control, As Russia Completes Transition to a Full War Economy, Treasury Takes Sweeping Aim at Foundational Financial Infrastructure and Access to Third Country Support.
Royal United Services Institute, Weaponisation of the FATF Standards: A Guide for Global Civil Society.
Royal United Services Institute, Suppression Laundering: Using FATF as a Fig Leaf to Target Civil Society (Policy Brief).
Royal United Services Institute, Weaponisation of the FATF Standards: A Guide for Global Civil Society (publication).
The White House, Bilateral Security Agreement Between the United States of America and Ukraine.
UK Government, New UK sanctions to crack down on Putin's war machine.
US Bureau of Industry and Security, Department of Commerce Announces Additional Export Restrictions to Counter Russian Aggression.
US Department of Justice, Two Individuals Sentenced to Prison in Connection With $7.5 Million Multi-State PPP Fraud Scheme.
US Department of Justice, Defendants Sentenced to Prison for Conspiracy to Sell Sanctioned Iranian Petroleum to China.
US Department of Justice, Founder and Former CEO of Artificial Intelligence Company Charged with Securities Fraud.
US Department of State, Imposing Sanctions on Corrupt Actors in Guyana.
US Department of State, Taking Additional Measures to Degrade Russia’s Wartime Economy.
US Government Accountability Office, What are the Biggest Challenges to Federal Cybersecurity? (High Risk Update).
World Economic Forum, Paris Olympics 2024: Cybersecurity experts sound the alarm on cyber threats.
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Hello, and welcome to episode 111 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week has been, relative to the last few weeks, a quiet week for financial crime news. That is always welcome for a host of reasons. The sanctions news has the usual updates on further action against Russia from the EU and US, but new of an update in relation to sanctions against the International Criminal Court by the US House of Representatives. On bribery news, a former US Admiral has been charged with bribery, as well as some indications from research in the UK suggesting that business may be lost if a bribe is not paid. The money laundering news brings more from Turkey on its moves to come off the FATF’s ‘Grey List’, and a story from the UK about an end to the criminal investigation into Monzo Bank. There is also some market abuse news from the US, and the usual round-up of cyber-attack news.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Association of Chartered Accountants, Bribery and corruption – The hidden social evil on your doorstep.
Council of the European Union, DPRK: EU sanctions nine additional individuals and entities involved in the country’s activities related to illegal weapons programmes and supporting Russia’s war of aggression against Ukraine.
Delegation of the European Union to the Russian Federation, Sanctions: Joint Statement on DPRK-Russia.
Interpol, INTERPOL action leads to anti-corruption operation in Moldova.
Monzo Bank, Annual Report 2024.
National Crime Agency, NCA uncovers corrupt officials who helped wanted criminals to circumvent international Red Notice system.
Office of Foreign Assets Control, Iran-related Designations; Non-Proliferation Designations.
Organization for Security and Co-operation in Europe, Kosovo’s judiciary to treat organized crime and corruption cases more vigorously, OSCE Mission report says.
Securities and Exchange Commission, SEC Obtains Final Judgment Against Former Arista Networks Chairman Andy Bechtolsheim for Insider Trading.
Securities and Exchange Commission, SEC Charges Former Lumentum Executive with Insider Trading.
Spotlight on Corruption, Letter from the National Crime Agency highlights problems with the UK’s political finance enforcement regime.
Spotlight on Corruption, National Crime Agency Letter to Spotlight on Corruption.
US Department of Justice, Retired Navy Admiral and Business Executives Arrested for Bribery Scheme.
US Department of Justice, Pharmacy Owner Sentenced for Paying Illegal Kickbacks and Engaging in a Money Laundering Conspiracy.
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Hello, and welcome to episode 110 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week’s mass of financial crime news looks at action across the globe on sanctions, with the principal target being Russia and its overseas operations in Africa. The bribery and anti-corruption news comes from Nigeria where Glencore is centre stage, and an interesting story from Queensland, Australia. The Office of the Comptroller of the Currency in the US has raised a scan email warning. On money laundering news, more on Turkey’s attempts to come off the FATF’s ‘Grey List’, and MONEYVAL has news on Bulgaria, the Vatican City, and San Marino. There is also the usual round-up of cyber-attack news, which includes aggressive action from the US on the 911 S5 Botnet. Let’s crack on.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Council of Europe, Stricter regulation is needed to prevent corruption in top executive functions of central governments, says the Council of Europe’s GRECO.
Council of Europe, GRECO Annual Report.
Council of the European Union, Russia: EU sets up new country-specific framework for restrictive measures against those responsible for human rights violations, and lists 20 persons.
Council of the European Union, G7 Finance Ministers and Central Bank Governors’ Communiqué, Stresa, 23-25 May 2024.
Council of the European Union, Anti-money laundering: Council adopts package of rules.
Eurojust, Major operation to take down dangerous malware systems.
European Securities and Markets Authority, ESMA reminds on rules for sharing information during pre-close calls.
Europol, Largest ever operation against botnets hits dropper malware ecosystem.
General Court of the European Union, Farkhad Teimurovich Akhmedov v Council of the European Union.
Europol, Crackdown on money mule service providers laundering over EUR 10 million.
HM Treasury, Policy paper: Joint EU-UK Financial Regulatory Forum.
Homeland Security Investigations, HSI Joins the Department of Treasury in Announcing Sanctions Against Wagner Group-linked Companies in the Central African Republic.
MONEYVAL, MONEYVAL publishes follow-up reports on Bulgaria, the Holy See and San Marino.
MONEYVAL, Bulgaria strengthened its preventive framework to combat money laundering and financing of terrorism, says Council of Europe body.
MONEYVAL, The Holy See (including Vatican City State) improved Anti-Money Laundering and combating the financing of terrorism measures with respect to banking and legal persons.
MONEYVAL, San Marino strengthened its sanctions for breaches of application of some of the Anti-Money Laundering and Combating the Financing of terrorism measures.
National Crim Agency, National Crime Agency part of international operation to destroy cyber crime services.
National Cyber Security Centre, Raising the cyber resilience of software 'at scale'.
Office of Financial Sanctions Implementation, Guidance: OFSI General licence INT/2024/4761108.
Office of Financial Sanctions Implementation, General Licence – Funds of non-designated third parties involving designated credit or financial institutions (“Personal Remittances”) INT/2024/4761108.
Office of Financial Sanctions Implementation, Guidance: Russian Oil Services ban.
Office of Financial Sanctions Implementation, General licences - INT/2024/4423849, INT/2023/3074680, INT/2022/2470156 and INT/2022/2470056.
Office of Financial Sanctions Implementation, General Licence - Russian Banks – UK subsidiaries – Guernsey subsidiary – EU subsidiaries - Basic needs, routine holding and maintenance, the payment of legal fees and insolvency related payments: INT/2022/1280876.
Office of Financial Sanctions Implementation, General Licence – Oil Price Cap INT/2024/4423849.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Somalia.
Office of Foreign Assets Control, Counter Terrorism and Iran-Related Designations Removals and Updates.
Office of the Comptroller of the Currency, Fictitious Regulatory Notifications: Fictitious Notification Regarding the Release of Funds Supposedly Under the Control of the Office of the Comptroller of the Currency.
Queensland government, Independent review into the Crime and Corruption Commission’s (CCC) reporting on the performance of its corruption functions.
UK legislation, The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2024 SI No. 695.
UK legislation, The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2024 SI No. 644.
US Department of Justice, 911 S5 Botnet Dismantled and Its Administrator Arrested in Coordinated International Operation.
US Department of State, Imposing Sanctions on Entities Supporting Russia’s Malign Activities in Africa.
US Department of the Treasury, G7 Finance Ministers and Central Bank Governors’ Communiqué.
US Department of the Treasury, Treasury Sanctions a Cybercrime Network Associated with the 911 S5 Botnet.
US Internal Revenue Service, Ukrainian national pleads guilty to money laundering charge stemming from attempt to export dual-use high precision jig grinder to Russia.
White & Case, EU launches new sanctions framework targeting Russia regarding human rights violations.
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Hello, and welcome to episode 109 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Another busy week this week, but they are all busy weeks. New designations from the UK and EU. Other sanctions news includes a new report detailing Russian fossil fuel exports and an incredible story from the US about possible sanctions on members of the International Criminal Court. More bribery and corruption news from the conflict in Ukraine, on both sides of the battlefield. The fraud news comes with reports of a disrupted ‘pig butchering’ scheme in the US and the publication of UK Finance’s annual report. There is a host of money laundering news, including updates from Turkey on its effort to escape the FATF’s ‘grey list’. And, there is a round-up of this week’s cyber-attack news. Let’s crack on.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Cyber Security Expert Advisory Board, Ausgrid response to the 2023-30 Australian Cyber Security Strategy: Legislative Reform Consultation Paper.
BBC, Can romance scam victims get their money back?
Centre for Research on Energy and Clear Air, April 2024 — Monthly analysis of Russian fossil fuel exports and sanctions.
Coalition for the ICC, Letter to US President: Threats to the International Criminal Court.
Council of the European Union, Text (PE-CONS 36/24) of the Regulation on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (2021/0239(COD)) (AML Regulation).
Council of the European Union, Text (PE-CONS 35/24) of the Regulation establishing the Anti-Money Laundering Authority (AMLA) (2021/0240(COD)) (AMLA Regulation).
Council of the European Union, Text (PE-CONS 37/24) of the Sixth Money Laundering Directive (2021/0250(COD)) (MLD6).
Department for Business and Trade, Notice: NTE 2024/11: Russia sanctions – Sales of oil tankers to third countries.
European Commission, Commission welcomes new sanctions against disinformation and war propaganda.
Financial Conduct Authority, FCA fines CGML £27,766,200 for failures in its trading systems and controls.
Financial Conduct Authority, Final Notice: Citigroup Global Markets Limited.
Foreign, Commonwealth & Development Office, UK and partners target Russia-DPRK ‘arms-for-oil’ trade with new sanctions.
FT Adviser, SFO director appears to be levelling the playing field in latest strategy.
Human Rights Watch, Biden Should Oppose US Sanctions on ICC.
Kharkiv Anti-Corruption Center, In 2023-2024, the Kharkiv OVA concluded contracts for the construction of fortifications and the supply of materials for almost 8 billion hryvnias: analytics of the Ukrainian Center.
National Crime Agency, Peter Virdee charged with bribing a foreign official.
National Cyber Security Centre, Business email compromise: new guidance to protect your organisation.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Somalia.
Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Somalia.
Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?
Prudential Regulation Authority, The Prudential Regulation Authority (PRA) fines Citigroup Global Markets Limited (CGML) £33,880,000 for failures in its trading systems and controls.
Prudential Regulation Authority, Final Notice: Citigroup Global Markets Limited (FRN 124384).
Rabihah Butler, Are government sanctions successful?
Stanford Law school, SLS Report Analyzes How Lawyers Enable Sanctions Evasion—and How to Address the Problem.
Stephenson Harwood, Four key lessons from the Binance case.
UK Finance, Fraud remains a major problem as over £1 billion is stolen by criminals in 2023.
UK Finance, Annual Fraud Report 2024.
UK Financial Intelligence Unit, Requesting a defence from the NCA under POCA and TACT.
US Department of Justice, Secret Service Seizes a Web Domain Used in Furtherance of a Cryptocurrency “Pig Butchering” Scheme.
US Department of Justice, Two Foreign Nationals Arrested for Laundering At Least $73M Through Shell Companies Tied to Cryptocurrency Investment Scams.
US Department of Justice, Man Sentenced for Laundering Over $4.5M Obtained from Business Email Compromise and Romance Fraud Schemes.
US Environmental Protection Agency, EPA Outlines Enforcement Measures to Help Prevent Cybersecurity Attacks and Protect the Nation’s Drinking Water.
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Hello, and welcome to episode 108 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. A busy week this week, but they are all busy weeks. New designations and guidance issued by OFSI in the UK, and new designations directed at Russia, Sudan, and North Korea. On bribery, action taken against the political and military establishments in Ukraine and Russia from OFAC in the US. A host of money laundering news, including a new strategy report on terrorist and illicit financing from the US Treasury. Action against finfluencers in the UK for promoting CFD while not authorised to do so, and a round-up of this week’s cyber-attack news. Let’s crack on.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Federal Register, Reporting, Procedures and Penalties Regulations.
Financial Action Task Force, Urgent action needed to fight money laundering and terrorist financing, say Heads of FATF, INTERPOL and UNODC.
Financial Conduct Authority, Stuart Bayes sentenced for insider dealing.
Financial Conduct Authority, Three charged over CFD trading pension fraud.
Financial Conduct Authority, 'Finfluencers’ charged for promoting unauthorised trading scheme.
Financial Transactions and Reports Analysis Centre of Canada, FINTRAC imposes an administrative monetary penalty on Binance Holdings Limited.
Home Office, Circular 022/2015: Money laundering: the confidentiality and sensitivity of suspicious activity reports (SARs) and the identity of those who make them.
House of Commons’ Justice Committee, Work of the Serious Fraud Office - Oral evidence (recording).
Information Commissioner’s Office, Organisations must do more to combat the growing threat of cyber attacks.
Information Commissioner’s Office, Learning from the mistakes of others – A retrospective review.
INTERPOL, Urgent cooperation needed to fight money laundering and terrorist financing.
Law Commission, Annual Report 2023-24.
National Cyber Security Centre, Guidance for organisations considering payment in ransomware incidents.
National Cyber Security Centre, NCSC ramps up support for those at high risk of cyber attacks ahead of election.
Office of Financial Sanctions Implementation, Financial sanctions general guidance amended.
Office of Financial Sanctions Implementation, Guidance: OFSI General Licence INT/2022/1839676.
Office of Financial Sanctions Implementation, Notice: General Licence – Russian Travel INT/2022/1839676.
Office of Financial Sanctions Implementation, UK financial sanctions general guidance.
Office of Financial Sanctions Implementation, Financial sanctions guidance for Russia.
Office of Financial Sanctions Implementation, Counter-Terrorism sanctions: guidance.
Office of Financial Sanctions Implementation, Financial sanctions enforcement and monetary penalties guidance.
Office of Financial Sanctions Implementation, Guidance: Reporting information to OFSI – what to do.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Democratic People’s Republic of Korea.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Democratic Republic of the Congo.
Office of Financial Sanctions Implementation, Guidance: Financial sanctions, ISIL (Da'esh) and Al-Qaida organisations.
Office of Foreign Assets Control, U.S. Exposes Attempted Sanctions Evasion Scheme Connected to Russian Oligarch.
Office of Foreign Assets Control, Treasury Sanctions Sudanese Rapid Support Forces Commanders Expanding War.
Office of Foreign Assets Control, Treasury Sanctions Nicaragua-Based Russian Institution and Gold Companies.
Office of Foreign Assets Control, Treasury Designates Sanctions Evaders Facilitating Illicit Arms Transfers between the DPRK and Russia.
Politico, EU prosecutors threaten to sue Commission in spending spat.
Treasury Select Committee, Are the UK’s Russian financial sanctions working? – Oral evidence.
United National Office on Drugs and Crime, Urgent action needed to fight money laundering and terrorist financing, say heads of FATF, INTERPOL and UNODC.
US Department of Justice, U.S. Law Enforcement Takes Action Against More Than 3,000 Money Mules in Initiative to Disrupt Transnational Fraud Schemes.
US Department of State, Imposing Sanctions in Response to DPRK-Russia Weapon Deals.
US Department of the Treasury, Treasury Announces 2024 National Illicit Finance Strategy.
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Hello, and welcome to episode 107 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week has been yet another busy week for financial crime. To be frank, they are almost always busy. Perhaps I need to be a bit more brutal in the edit. On sanctions, actions against human rights abuse of Palestinians, and coordinated action against the head of the LockBit ransomware group. On bribery and anti-corruption GRECO reports on progress made by Belgium, and some interesting research on Ukraine and anti-corruption. The money laundering news provides progress from the Council of Europe’s anti-money laundering body, MOVEYVAL on Georgia and Slovenia, and the market abuse news is focused on the publication of Market Watch 79 by the Financial Conduct Authority in the UK. There is also a round-up of this week’s cyber news. Let’s crack on.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
American Bankers Association, ABA Letter to FATF re: R.16 Revision Proposal.
Baker McKenzie, US: Sanctions Enforcement in 2024: A Fireside Chat with OFAC Associate Director, Lawrence Scheinert.
Council of Europe, Council of Europe evaluates anti-corruption progress in Belgium.
Council of Europe (MONEYVAL), Council of Europe anti-money laundering body: Georgia strengthened preventive measures applicable to politically exposed persons, further progress needed.
Council of Europe (MONEYVAL), Slovenia has improved its criminal legislation against terrorist financing, says Council of Europe body.
Europol, New series of measures issued against the administrator of LockBit.
EY, Cybersecurity fears on the rise among US workers, with a vast majority concerned about AI in cybersecurity.
Financial Action Task Force, Türkiye.
Financial Conduct Authority, Market Watch 79.
Financial Conduct Authority, CP24/2: Our Enforcement Guide and publicising enforcement investigations - a new approach.
Financial Services Regulation Committee, Committee examining FCA consultation CP24/2 on publicising enforcement investigations.
Information Commissioner’s Office, Statement in response to reports of a cyber breach at the Ministry of Defence.
National Crime Agency, LockBit leader unmasked and sanctioned.
National Cyber Security Centre, Blog Post: What's happened to my data?
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Global Human Rights.
Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Global Human Rights.
Office of Financial Sanctions Implementation, Consolidated List.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Russia.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Cyber.
Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Cyber.
Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?
Office of Financial Sanctions Implementation, Guidance: Financial sanctions guidance for ransomware.
Office of Foreign Assets Control, United States Sanctions Senior Leader of the LockBit Ransomware Group.
Office of Foreign Assets Control, Formal Launch of New OFAC Sanctions List Service Application.
Office of Foreign Assets Control, Sanctions List Service.
Royal United Services Institute, The FATF Gains Momentum in Breaking Africa's Cycle of Grey Listing.
Securities and Exchange Commission, "Adam Smith, the SEC, Data, and the Public Good" Prepared Remarks Before the 11th Annual Conference on Financial Market Regulation.
Stanford Freeman Spogli Institute for International Studies, Corruption in Ukraine and EU Accession.
The Commonwealth, Landmark anti-corruption conference in Ghana.
United Nations, Sustainable Development Goals.
UK government, Second US-UK Strategic Sanctions Dialogue: joint statement.
US Department of Justice, U.S. Charges Russian National with Developing and Operating LockBit Ransomware.
US Department of State, Joint Statement by the U.S. Department of State and UK Foreign, Commonwealth and Development Office: Second U.S.-UK Strategic Sanctions Dialogue.
- Visa fler
