Anti-Financial Crime & Financial Crime Compliance
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NEWS: Hong Kong banks get March deadline to tell regulator how AI can improve STRs

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Hong Kong is one of Asia's leading financial hubs

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NEWS: Canada subsidiary of China’s ICBC bank flouted FCC requirements for years, faces fourth review – report

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NEWS: Isle of Man raids gambling firms in money laundering probe

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IN PICTURES: Historic day at European Parliament as MEPs vote in the AMLA Executive Board

By Paul O’Donoghue, Senior Correspondent One of Hong Kong’s most important financial regulators has urged banks to use artificial intelligence to help police financial crime. The Hong Kong Monetary Authority (HKMA), the jurisdiction’s central bank, said that new technology could be used to improve Suspicious Transaction Reports (STRs). Financial institutions have now been given until…

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NEWS: Canada subsidiary of China’s ICBC bank flouted FCC requirements for years, faces fourth review – report

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NEWS: Isle of Man raids gambling firms in money laundering probe

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IN PICTURES: Historic day at European Parliament as MEPs vote in the AMLA Executive Board

Regulatory Watch News

  • Albania – Publication of the Fifth Round Second Compliance Report

    GRECO

    GRECO has made public today its Fifth Round Second Compliance Report on Albania, which deals with preventing corruption and promoting integrity in central governments (top executive functions) and law enforcement agencies. This report was adopted by GRECO at its 99th Plenary Meeting (Strasbourg, 17-19 March 2025). This Second Compliance Report assesses the measures taken by the authorities of Albania to implement the recommendations issued in the Fifth Round Evaluation Report which was adopted at GRECO’s 86th Plenary Meeting (29 October 2020) and made public on 3 December 2020, following authorisation by the authorities of Albania. The corresponding Compliance Report was adopted at GRECO’s 92nd Plenary Meeting (2 December 2022) and made public on 3 March 2023, following authorisation by the authorities of Albania.

  • OFSI has published its Annual Review for 2023-24

    OFSI

    Today OFSI published the Annual Review 2023-24. The report provides an overview of OFSI’s activities and achievements over the past financial year. The report highlights the impact of financial sanctions, demonstrates OFSI's efforts to drive compliance, and underlines OFSI’s support to businesses in navigating UK sanctions to boost growth of legitimate business.

  • Europol has identified AI powered fraud as a key problem area
    International law enforcement strike against multimillion-euro healthcare fraud network

    Europol

    An international law enforcement operation coordinated by Europol has dismantled a criminal network behind a large-scale healthcare subsidy fraud in France and the laundering of its illicit proceeds in Germany. The fraud scheme centred on fraudulent reimbursements for hearing aids exploiting France’s public health insurance system. In July 2024, the fraudsters set up fictitious hearing aid companies, using usurped diplomas to secure accreditation from health authorities and contracts with the French health insurance fund. Armed with stolen patient details, they issued false invoices, leading to EUR 6.7 million in fraudulent reimbursements. The illicit funds were then channelled through dozens of shell companies across Europe.

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