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NEWS: UK to recruit 475 fincrime investigators, spend £500M on economic crime tech and PPPs and ‘seize £1BN in criminal assets,’ government announces

Premium March 30, 2023

ECONOMIC CRIME PLAN: Among the raft of measures announced by the UK's Home Secretary Suella Braverman were plans to we are investing £100 million in cutting edge technology, including data analytics, to equip law enforcement with the tools they need to stay one step ahead. A new multi-agency crypto cell will also be established that combines law enforcement and regulators to pool expertise and more effectively identify, seize and store illicit crypto assets.

INSIGHT: Compliance managers see €15K rise in salary to €85K; CCOs earning €195K – report

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NEWS: UAE, Gibraltar set to remain on EU’s ‘high risk’ watchlist until September at earliest

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LATEST: European Parliament officially adopts Europe’s new AML laws and establishment of AMLA

BRITAIN today (Thurs) published its long awaited Economic Crime Plan with plans to recruit 475 new fincrime investigators, a £500M spend on fighting economic crime and a greater reliance on PPPs and technology. There was also a pledge to recover £1BN in criminal assets in the next 10 years. Officials said the package was targeting…

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INSIGHT: Compliance managers see €15K rise in salary to €85K; CCOs earning €195K – report

 Premium

NEWS: UAE, Gibraltar set to remain on EU’s ‘high risk’ watchlist until September at earliest

 Premium

LATEST: European Parliament officially adopts Europe’s new AML laws and establishment of AMLA

Regulatory Watch News

  • Founders and CEO of cryptocurrency mixing service arrested and charged with money laundering and unlicensed money transmitting offenses

    IRS Criminal Investigation

    Keonne Rodriguez and William Lonergan Hill are charged with operating Samourai Wallet, an unlicensed money transmitting business that executed over $2 billion in unlawful transactions and laundered over $100 million in criminal proceeds

  • Treasury Targets Networks Facilitating Illicit Trade and UAV Transfers on Behalf of Iranian Military

    OFAC

    WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning over one dozen entities, individuals, and vessels that have played a central role in facilitating and financing the clandestine sale of Iranian unmanned aerial vehicles (UAVs) for Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), which itself is involved in supporting Iran’s Islamic Revolutionary Guard Corps (IRGC) and Russia’s war in Ukraine.

  • Financial sanctions update: Iran

    OFSI

    On 25 April 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following 6 entries have been added to the Iran financial sanctions regime and are now subject to an asset freeze:

    • Abbas Abdi Asjerd (Group ID: 16483)
    • Seyed Mohsen Vahabzadeh Moghadam (Group ID: 16480)
    • Alvand Motorbuilding Industries Company (Group ID: 16482)
    • Bonyan Danesh Shargh Private Company (Group ID: 16481)
    • Moj Gostar Aseman Parvaz Company (Group ID: 16479)
    • Pishro Sanat Aseman Sharif Company (Group ID: 16484)

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