AML NEWS

In today's interconnected world, financial crime is a persistent and evolving threat.Keeping abreast of the latest AML news is critical for financial institutions, businesses, and individuals alike.Anti-Money Laundering (AML) efforts are designed to combat financial crimes like money laundering, terrorist financing, and other illicit activities.This article provides a comprehensive overview of recent developments in the AML landscape, drawing upon key updates from regulatory bodies, enforcement actions, and technological advancements. Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Action Group against Money Laundering in Central Africa (GABAC) Financial Action Task Force of Latin America (GAFILAT) Inter Governmental Action Group against Money Laundering in West Africa (GIABA) Middle East and North Africa Financial Action Task Force (MENAFATF)From the Financial Action Task Force (FATF) identifying jurisdictions with AML deficiencies to the U.S. The founder of a cryptocurrency exchange whose namesake was tied to Anti-Money Laundering (AML) was found guilty of wire fraud and money laundering in a California court. All news, reviewsTreasury Department cracking down on entities of primary money laundering concern, we will delve into the complexities of this ever-changing field.We will also explore how innovative technologies like AI are being deployed, and dissect recent enforcement actions, offering actionable insights and guidance for navigating the challenging world of AML compliance.

Global AML Watchdog Updates and Jurisdiction Assessments

The Financial Action Task Force (FATF) plays a crucial role in setting international standards and identifying jurisdictions with weaknesses in their AML and Counter-Terrorist Financing (CFT) regimes. Matthew Podolsky, the Acting United States Attorney for the Southern District of New York, and James E. Dennehy, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation ( FBI ), announced today that Aux Cayes Fintech Co. Ltd, d/b/a OKEx, d/b/a OKX ( OKX ), a Seychelles-based entity, that since at least 2025 has operated OKX, oneThese assessments are vital for understanding global risks and informing risk-based approaches to compliance. Today's latest Fincrime news. Everything you need to know about AML/CFT, regulation, enforcement, compliance practice, fraud, and vendor updatesRegularly, the FATF issues updates identifying countries that need to bolster their AML/CFT frameworks.Countries on these lists face increased scrutiny from financial institutions worldwide.

Recent Developments in Jurisdictional Oversight

• A money laundering watchdog recently removed the UAE, Uganda, Barbados, and Gibraltar from its watchlist, indicating improvements in their AML regimes.
• These removals highlight the effectiveness of international pressure and the commitment of these nations to strengthen their financial crime defenses.
• Conversely, FATF continues to monitor jurisdictions with ongoing deficiencies, urging them to take corrective action to address identified weaknesses.

Staying informed about these jurisdictional assessments is crucial for financial institutions to understand their exposure and adjust their due diligence processes accordingly. News Video Reports $3b money laundering case: 42-year-old Singaporean charged with falsifying accounts, forgery 2 mins Asia Meaningful gift, says Najib s wife Rosmah after courtThis information helps organizations to apply appropriate levels of scrutiny when dealing with transactions originating from or involving these regions.

Enforcement Actions and Regulatory Updates in the United States

The United States, through its regulatory bodies like the Financial Crimes Enforcement Network (FinCEN) and the Department of Justice (DOJ), actively enforces AML laws and regulations. A money laundering watchdog removes the UAE, Uganda, Barbados and Gibraltar from a watchlistRecent enforcement actions and regulatory updates provide valuable insights into the priorities and expectations of U.S. authorities.

FinCEN's Focus on Illicit Finance Concerns

FinCEN has been particularly active in addressing emerging illicit finance concerns:

• Huione Group: FinCEN identified Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposed severing its access to the U.S. financial system.This action underscores the U.S. commitment to preventing illicit actors from exploiting the financial system.
• National Risk Assessments: The Treasury Department published the 2025 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing, highlighting the most significant threats and vulnerabilities facing the United States. Reports Confirm and Update Key Illicit Finance Concerns in Response to Evolving Threat and Risk Environment WASHINGTON Today, the U.S. Department of the Treasury published the 2025 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing. These reports highlight the most significant illicit finance threats, vulnerabilities, and risks facing the UnitedThese assessments are crucial for informing risk-based compliance programs.
• Brink's Global Services: FinCEN assessed a $37,000,000 civil money penalty against Brink's Global Services USA, Inc. for willful violations of the Bank Secrecy Act (BSA), the primary U.S. anti-money laundering (AML) law.This serves as a strong reminder of the importance of robust AML compliance programs.
• Proposed Rulemaking: FinCEN has proposed updates to AML program requirements for financial institutions, modernizing regulations in line with the Anti-Money Laundering Act of 2025 (AML Act).

These enforcement actions and regulatory updates signal a heightened focus on combating illicit finance and ensuring that financial institutions have adequate AML programs in place.

The TD Bank AML Program Remediation

TD Bank's anti-money laundering program lapses have resulted in significant scrutiny from federal regulators, highlighting the critical importance of robust AML compliance programs. TD Bank leadership called its response to anti-money laundering program lapses its top priority as federal regulators named their choice of a compliance monitor to oversee a top-to-bottom rebuild of its AML program.The bank's leadership has identified addressing these lapses as its top priority. 3. FinCEN Proposes Updates to AML Program Requirements . In June, FinCEN separately issued another long-awaited NPRM to implement updates to the AML Program requirements for financial institutions geared towards modernizing the regulations. This was a requirement of the Anti-Money Laundering Act of 2025 ( AML Act ).Key highlights include:

• Appointment of a compliance monitor to oversee a top-to-bottom rebuild of its AML program.
• The remediation process is expected to be extensive and costly, requiring significant investments in technology, personnel, and training.

TD Bank's situation serves as a cautionary tale for other financial institutions, emphasizing the need for continuous monitoring and improvement of AML programs.

Emerging Trends in Financial Crime

Financial crime is constantly evolving, driven by technological advancements and geopolitical shifts.Staying ahead of these emerging trends is essential for effective AML compliance.

Cryptocurrency and Money Laundering

Cryptocurrencies continue to pose a significant challenge to AML efforts. This week, John and Elliot discuss the recent Wolfsberg 25th Anniversary Forum, the outcomes of the G7 meeting of Finance Ministers and central bankThe anonymity and decentralized nature of these assets make them attractive to criminals seeking to launder illicit funds. Subscribe now to have unlimited access. With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines Penalties database, free access to Boardroom Series and more!Recent developments include:

• The founder of a cryptocurrency exchange with ties to AML was found guilty of wire fraud and money laundering.
• The SEC dropped its lawsuit against Binance, one of the largest crypto exchanges, which may signal a shift in regulatory strategy but doesn't diminish concerns about illicit activity in the crypto space.
• OKX, a Seychelles-based entity, faced charges in the Southern District of New York.

Financial institutions need to enhance their capabilities to detect and prevent money laundering through cryptocurrencies, including transaction monitoring, enhanced due diligence, and collaboration with law enforcement.

Sanctions Evasion and Geopolitical Risks

Geopolitical instability and international sanctions create opportunities for financial crime. NEWS: Money laundering and sanctions risks remain high in Switzerland, warns country s supervisor AI Technology LATEST: SEC drops lawsuit against Binance crypto exchangeBusinesses must be vigilant in monitoring for sanctions evasion and complying with relevant regulations. Get the latest AML news from anti-money laundering industry professionals. Visit theamlshop.ca for AML industry updates, financial industry news, AML regulatory updates and AML governance news.Examples include:

• Money laundering and sanctions risks remain high in Switzerland, according to the country's supervisor, highlighting the importance of strong AML controls even in established financial centers.

Failing to comply with sanctions can result in severe penalties and reputational damage. WASHINGTON Today, the U.S. Department of the Treasury s Financial Crimes Enforcement Network (FinCEN) issued a finding and notice of proposed rulemaking (NPRM) pursuant to Section 311 of the USA PATRIOT Act that identifies Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposes to sever its access to the U.S. financial system.Financial institutions need to invest in robust sanctions screening and monitoring systems.

Regional AML Initiatives and Cooperation

Regional organizations play a critical role in fostering cooperation and harmonizing AML standards. The Star Entertainment Group, one of Australia s largest casino operators, stands on the precipice of financial collapse after the nation s financial crimes watchdog, AUSTRAC, launched FederalThese groups facilitate information sharing, conduct mutual evaluations, and provide technical assistance to member countries.

Examples of regional AML groups include:

• Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG)
• Action Group against Money Laundering in Central Africa (GABAC)
• Financial Action Task Force of Latin America (GAFILAT)
• Inter-Governmental Action Group against Money Laundering in West Africa (GIABA)
• Middle East and North Africa Financial Action Task Force (MENAFATF)

These regional bodies work to strengthen AML/CFT regimes within their respective regions, promoting greater consistency and effectiveness in the fight against financial crime.

Leveraging Technology for AML Compliance

Technology is playing an increasingly important role in AML compliance. In 2025, FinCEN and the federal bank regulators announced more than three dozen enforcement actions against banks and individuals arising from alleged Bank Secrecy Act (BSA), anti-money launderingArtificial intelligence (AI), machine learning (ML), and other innovative technologies can help financial institutions automate processes, detect suspicious activity, and enhance their risk management capabilities.

AI and Machine Learning in AML

AI and ML are being used for a variety of AML applications, including:

• Transaction Monitoring: AI-powered transaction monitoring systems can analyze large volumes of data in real-time, identifying patterns and anomalies that may indicate money laundering.
• Customer Due Diligence (CDD): AI can automate the CDD process, streamlining data collection and verification, and reducing the risk of human error.
• Risk Assessment: ML algorithms can analyze various data sources to assess the risk profile of customers and transactions, enabling financial institutions to allocate resources more effectively.

While technology offers significant benefits, it is essential to remember that it is not a silver bullet. The latest news on money laundering, terrorist proliferation finance, and sanctions, to develop strategies to prevent suspicious money laundering activity.Effective AML compliance requires a combination of technology, human expertise, and a strong culture of compliance.

Practical Tips for Strengthening Your AML Program

Building and maintaining an effective AML program is an ongoing process that requires commitment from all levels of an organization.Here are some practical tips for strengthening your AML program:

1. Conduct a Comprehensive Risk Assessment: Identify and assess the specific AML risks facing your organization.
2. Develop and Implement Robust Policies and Procedures: Ensure that your policies and procedures are up-to-date and reflect current regulatory requirements and industry best practices.
3. Provide Regular Training to Employees: Train employees on AML laws, regulations, and company policies and procedures.
4. Implement Effective Transaction Monitoring Systems: Use technology to monitor transactions for suspicious activity.
5. Conduct Thorough Customer Due Diligence: Verify the identity of your customers and understand the nature of their business.
6. Report Suspicious Activity: File Suspicious Activity Reports (SARs) promptly when you detect suspicious activity.
7. Conduct Regular Audits and Reviews: Conduct independent audits and reviews of your AML program to identify weaknesses and areas for improvement.
8. Stay Informed About Regulatory Updates and Emerging Threats: Continuously monitor the AML landscape and adapt your program to address new risks.

Commonly Asked Questions About AML

What is Money Laundering?

Money laundering is the process of concealing the origins of illegally obtained money, making it appear to come from legitimate sources.

Why is AML Important?

AML is important because it helps to combat financial crime, protect the integrity of the financial system, and prevent the financing of terrorism.

What are the Key Elements of an AML Program?

The key elements of an AML program typically include a risk assessment, policies and procedures, training, transaction monitoring, customer due diligence, and reporting of suspicious activity.

What are the Penalties for AML Violations?

The penalties for AML violations can be severe, including fines, imprisonment, and reputational damage.

How Can Technology Help with AML Compliance?

Technology, such as AI and machine learning, can automate processes, detect suspicious activity, and enhance risk management capabilities.

Conclusion: Staying Ahead in the Evolving World of AML

Keeping informed about the latest AML news is paramount in today's dynamic financial landscape.This includes staying updated on FATF guidelines, FinCEN regulations, and emerging trends in financial crime. Money Laundering Watch is a blog focused on covering the latest news and developments in global and domestic initiatives to prevent and detect money laundering, fraud, trade embargo violations, tax evasion, and other criminal activity.By understanding these developments, businesses and financial institutions can better protect themselves and the financial system from illicit activities.Proactive measures, such as robust risk assessments, comprehensive AML programs, and the strategic deployment of technology, are essential for mitigating risks and ensuring compliance.Ultimately, a commitment to ethical practices, continuous improvement, and collaboration with regulatory bodies is key to navigating the complexities of the Anti-Money Laundering environment. In October 2025, Second Minister For Finance And National Development Indranee Rajah announced a new inter-ministerial committee to review Singapore's anti-money laundering regime and to keep onSubscribe to reputable AML news sources, attend industry conferences, and engage with experts to stay ahead of the curve and contribute to a more secure financial future. Financial Action Task Force Identifies Jurisdictions with Anti-Money Laundering, Combating the Financing of Terrorism, and Counter-Proliferation Finance DeficienciesThe fight against money laundering is a collective responsibility, and your active participation is crucial.