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?
The FATF has become so high level and abstract in its fight against money laundering and terrorism financing that it has lost touch with the day to day pressures and demands of every day crime and the global criminal gangs that perpetrate this offence.
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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