Anti-Financial Crime & Financial Crime Compliance
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Analysis & Opinion, Compliance News, LATAM

Money launderers may be working out of thousands of South American petrol stations; report sheds light on multi-billion-euro battle on organised crime in oil industry

Premium March 12, 2021
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ANALYSIS: FATF’s 5 new reforms – including making originator, beneficiary data more transparent in cross-border payments over $1,000.

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CONFIRMED: FATF adds British Virgin Islands, Bolivia to AML ‘grey list’

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NEWS: VAT fraud among EU crime-fighting priorities for next 4 years

Corruption and money laundering continue to plague the Latin American petroleum industry, with Brazil alone seeing illegal profits worth around €3.47BN annually, it has emerged.

A recent Reuters investigation has revealed that crime within the industry has not gone away despite efforts to contain it.

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Premium

ANALYSIS: FATF’s 5 new reforms – including making originator, beneficiary data more transparent in cross-border payments over $1,000.

 Premium

CONFIRMED: FATF adds British Virgin Islands, Bolivia to AML ‘grey list’

 Premium

NEWS: VAT fraud among EU crime-fighting priorities for next 4 years

Regulatory Watch News

  • Toronto-Dominion Bank

    The Council on Ethics recommends that Toronto-Dominion Bank (TD) be placed under observation due to an unacceptable risk that the company is contributing to, or is itself responsible for, serious financial crime, pursuant to section 4(g) of the Guidelines for Observation and Exclusion of Companies from the Government Pension Fund Global. TD is one of the largest banks in Canada. It also has a significant presence along the USA’s eastern seaboard. The company has more than 95,000 employees worldwide. The Council’s investigations have found that TD may be linked to multiple cases of financial crime the past 10–15 years.

  • Shaping the EU Anti-Fraud landscape: OLAF’s Helsinki Conference gathers specialists from all Member States

    OLAF

    More than 100 anti-fraud experts from across the European Union met this week in Finland for the 2025 Helsinki OLAF Conference aimed at defining the next chapter in EU anti-fraud action. Organised by the European Anti-Fraud Office (OLAF) on 11-12 June, the event brought together representatives from EU Member States’ Anti-Fraud Coordination Services as well as key EU bodies involved in protecting the Union’s financial interests.

  • Scam alert related to banks

    HKMA

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press release issued by the bank listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which has been reported to the HKMA.  Hyperlink to the press release is available on the HKMA website.  

           Bank        Type of Scam
    Chong Hing Bank Limited Fraudulent website and internet banking login screen

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