EU-funded programme to monitor illicit online environmental crime with AI and open-source intelligence
A new, three-year EU-funded programme will use artificial intelligence (AI) and cutting-edge digital analysis to produce new responses to environmental crime. Implemented by the Global Initiative Against Transnational Organised Crime (GI-TOC), Eco-Solve aims to provide law enforcement, policymakers, and local communities with invaluable information to…
Austria’s Raiffeisen Bank amongst foreign financial institutions under US pressure to sever Russian connections
Raiffeisen Bank International (RBI), the largest Western lender still actively engaged in Russia, is coming under increasing pressure from Washington over its concerns that the Austrian lender might be facilitating fund flows that circumvent sanctions. RBI has countered claims by the Reuters news agency that…
Chartis publishes inaugural rankings for financial crime and compliance specialists
Chartis, which provides research and analysis of the global market for risktech and fintech, has published its first ever Financial Crime and Compliance 50 (FCC50) ranking and report that analyses vendors in this market. The methodology employed by Chartis includes looking specifically at how vendors…
FATF focuses on asset recovery, shortens grey list, welcomes Indonesia and continues Russia’s suspension
Asset recovery should be a key pillar of every country’s approach to tackling money laundering and terrorist financing according to a statement issued at the end of the latest plenary of the Financial Action Task Force (FATF) which ended on Friday. The plenary also saw…
US announces final amendments to beneficial reporting regulations
The US’ Securities and Exchange Commission (SEC) has announced final amendments to its long-anticipated beneficial ownership reporting regulations. The amendments include the removal of clauses that drew fierce criticism from transparency advocates because they essentially allowed reporting entities simply to say they could not obtain…
Hamas relying largely on TBML and cryptocurrency
Palestinian political and militant organisation Hamas relies largely on trade-based money laundering (TBML) and cryptocurrency transactions to move its money around so it cannot be easily tracked, a former FBI counterterrorism intelligence analyst, Matthew Levitt, has told the Business Insider news channel. It is reporting…
Lessons from Venezuela’s illicit gold trade applicable to IFFs more widely says Brookings
Difficulties associated with tracing illicit gold flows and the large number of actors involved in gold smuggling have contributed to a crisis with limited chances to even engage in efforts to address the issue of illicit financial flows (IFFs) from the production and trade of…
J P Morgan strategic alliance with Cleareye.ai to identify TBML and sanctions red flags
J P Morgan has entered into a global strategic alliance with California-based artificial intelligence (AI) and machine learning (ML) platform Cleareye.ai to digitise trade finance due diligence processing. The alliance aims to identify trade-based money laundering (TBML) and sanctions red flags and significantly reduce false…
Latest news
Trade Based Financial Crime
Trade Based Financial Crime
This online training course provides you with the technical knowledge required to succeed within the trade finance compliance landscape.