UN Resolution
Posted in Financial Crime

UN Resolution 2462/2019 – Fighting Terrorism

The U.N. Security Council unanimously adopted a resolution (2462/2019) on 28th March 2019 which requires all countries to do more to act against those responsible…

Continue Reading...
China - country focus
Posted in China Financial Crime

China – Country Focus

According a Chinese proverb, “the best time to plant a tree is twenty years ago, the next best time is now,” and so it goes…

Continue Reading...
standard chartered bank
Posted in Antiquities Cybercrime Digital ID

FI Focus – Recent Highlights from Standard Chartered by Trish Sullivan

The Bank announced on 9th April, 2019 resolutions with US and UK authorities regarding its historical sanctions and financial crime controls, which mostly related to…

Continue Reading...
Posted in Financial Crime

Customer Tax Evasion Guidance

The Wolfsburg Group Guidance on Customer Tax Evasion was published on 14th May, 2019 and informs FI’s on how they can mitigate and manage the…

Continue Reading...
Posted in Financial Crime Sanctions

Closing the Gap: Guidance for Countering North Korea’s Cryptocurrency Activity in South East Asia by RUSI

The UK Think tank, the Royal United Services Institute (RUSI) have issued a paper that reveals how North Korea can exploit cryptocurrency, particularly in Southeast…

Continue Reading...
Posted in Financial Crime Money Laundering

Trade Finance Guidance

Over the two years since the publication of the 2017 Trade Finance Guidance, the working group made up from Wolfsberg members, BAFT and ICC began…

Continue Reading...
Posted in Financial Crime

The Mueller Report and what it found on Russia’s use of crypto

The Mueller Report (view pdf) refuted allegations of possible collusion by the Trump campaign with Russia in connection with the 2016 US Presidential election with obstruction…

Continue Reading...
Posted in FATF Financial Crime Money Laundering

FATF News – An open ended Mandate

On 12th April, 2019, Ministers agreed an open ended mandate for the FATF, marking its 30 year anniversary. The indefinite extension which takes effect in…

Continue Reading...
Posted in Money Laundering

Panama papers recoveries exceed US$1.2 billion

According to the International Consortium of Investigative Journalists (ICIJ), recoveries fines & penalties arising out of the Panama Papers, has exceeded US$1.2 billion. The announcement…

Continue Reading...
Posted in Financial Crime Money Laundering

Future of Financial Information Sharing (FFIS)

In late 2017, the FFIS programme published the first international comparative study of public-private financial information-sharing partnerships and their impact in tackling economic crime, drawing…

Continue Reading...