Category: ABAC

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EAFCS2025: The rapid geopolitical shift in financial crime – can your organization afford to be unprepared?

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OPINION: Can Trump 2.0 assault on the cartels be used as a pivot in the global battle against financial, organized crime?

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NEWS: Nordea’s inadequate CDD, high-risk banking partners, Panama Papers links lead to $35m US fine

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OPINION: ‘There’s still more to come’; why TD Bank scandal is still far from over and why the board must atone

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LATEST: TD Bank books massive $3 billion for AML fines in US federal probes; lender swings to quarter loss

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NEWS: US preferred hub for corrupt financial transactions; Dubai, Hong Kong replace Panama as OCG centres, claims UK university report

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INSIGHT: Canada’s FINTRAC warns of proceeds of tax evasion being laundered in housing – here are the key red flags

Europol has identified AI powered fraud as a key problem area

NEWS: Europol flags rise in human traffickers using cryptocurrencies to launder profits

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ANALYSIS: The 7 steps banks must take on FinCEN’s Mexican cartel timeshare warning

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NEWS: Troubled TD Bank makes hires from FinTRAC and Homeland Security to shore up AML processes

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INSIGHT: How all 35 countries scored in FATF ‘financial gatekeepers’ survey that’s divided global opinion

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NEWS: Britain ‘utterly failing’ to fight ‘dirty money epidemic,’ MPs claim in report

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axessinvest.de: BaFin warns consumers about website and identity fraud
BaFin
June 16, 2025
The financial supervisory authority BaFin warns against offers from the website axessinvest.de. The website gives the impression that it is operated by the BaFin-registered MarketAxess NL B.V. branch in Frankfurt. This is not true. It is a case of identity theft.

Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.
OLAF exposes fraud involving over €870 million
OLAF
June 16, 2025
In 2024, the European Anti-Fraud Office (OLAF) recommended the recovery of more than €870 million in misused EU funds, according to its annual report released today. OLAF investigators also prevented over €40 million from being improperly spent, reinforcing OLAF’s role as guardian of the EU budget. Over the year, OLAF closed 246 investigations and issued 301 recommendations to national and EU authorities, while opening 230 new investigations. This report marks not only a strong year of operations, but also OLAF’s 25^th anniversary – underscoring a quarter-century of dedicated service in protecting the EU’s financial interests and reaffirming OLAF’s leading role in the fight against fraud.
MAS and SFA invite nominations for 2025 Singapore FinTech Festival FinTech Excellence Awards
MAS
June 16, 2025
Singapore, 16 June 2025… The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) today announced the global call for nominations for the 2025 Singapore FinTech Festival (SFF) FinTech Excellence Awards (the Awards). Marking its 10-year anniversary, the Awards, supported by PwC Singapore, continues to recognise innovative FinTech solutions by corporates^[1] and individuals who are leaders in spearheading the use of new technologies to transform industry practices and the delivery of financial services, create new growth opportunities, and champion greater financial inclusion.