INSIGHT: As David Lewis prepares to step down as FATF chief, our opinion writer asks is the global financial crime watchdog too dominated by finance ministries – and is this what’s holding the agency back?

Regulatory Watch News

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  Justice Department Anti-Trafficking Efforts Highlighted in 2021 National Action Plan to Combat Human Trafficking

  US Department of Justice

  December 4, 2021

  Today the White House released the 2021 National Action Plan to Combat Human Trafficking, which lays out a broad-based, multi-disciplinary, whole-of-government approach to addressing this crime and its harmful impacts on crime victims, their communities and our national security. The Action Plan calls upon the U.S. Department of Justice and its partners across the Executive Branch to implement a number of Priority Actions to enhance U.S. efforts to combat human trafficking. “Human trafficking is an insidious crime that impacts some of the most vulnerable people in our country and around the world,” said Attorney General Merrick B. Garland. “Vindicating the rights of human trafficking victims and other vulnerable individuals ranks among the highest priorities of the Department of Justice. The department welcomes the issuance of this National Action Plan, which will streamline coordination among federal anti-trafficking partners, strengthening our ability to seek justice for victims and hold perpetrators accountable. We are committed to using every tool at our disposal to prevent human trafficking; increase detection, investigation and prosecution of human trafficking crimes; and expand support and services to protect and empower survivors.”

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  Massive and Opaque U.S. Private Investment Industry Presents Major National Security and Corruption Threats

  Global Financial Integrity

  December 3, 2021

  WASHINGTON, DC – The $11 trillion U.S. private investment industry represents a gaping hole in the U.S. anti-money laundering framework and makes the U.S. an attractive destination for illicit financial flows, according to a joint report released today by the Financial Accountability and Corporate Transparency (FACT) Coalition, Global Financial Integrity, and the Transparency International U.S. Office. “We need to make sure the ill-gotten gains of kleptocrats, autocrats, and criminals do not find shelter in our rule of law institutions,” said U.S. Senator Sheldon Whitehouse, speaking at the report launch today. “Without strong anti-money laundering protections, private equity and hedge funds can help kleptocrats and criminals stash their ill-gotten gains.”

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  HIDING IN PLAIN SIGHT: MAKE SURE EUROPE’S MOST WANTED CRIMINALS DO NOT ESCAPE THEIR PAST

  Europol

  December 3, 2021

  Europol and ENFAST launch the EU Most Wanted campaign 2021 today

  Some of Europe’s most wanted criminals are long-term fugitives who have escaped capture by law enforcement for many years. Some of them could even be living relatively ordinary lives at present but have a dark, criminal past that they are desperate to hide. The European Network of Fugitive Active Search Teams (ENFAST), supported by Europol, is launching the EU Most Wanted campaign 2021 today to focus on fugitives across Europe who are hiding in plain sight.