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High Stakes: The Effect of Money Laundering on the Global Economic situation Introduction Money laundering presents substantial risks to the worldwide economic situation, weakening financial systems and advertising illegal tasks. This write-up explores the implications of cash laundering, highlighting its effects on financial stability, lawful implications, and social repercussions. What is Money Laundering? Money laundering is a procedure that disguises the origins of illegally obtained money, making it appear legitimate. It normally involves 3 actions: placement, layering, and combination. Each phase offers to cover the immoral source of funds, permitting wrongdoers to utilize cash without elevating suspicion. The Global Economic Effect of Money Laundering Erosion of Financial Honesty The prevalence of cash […] Read more https://lnkd.in/dmzZ9xvY Compliance Edge, CAAS for High Risk #FintechCompliance #RegTech #BankingCompliance #AML #KYC #TransactionMonitoring #PaymentCompliance #SEPACompliance #PSD2Compliance #FintechRegulation #ComplianceTech #FinancialCrimePrevention #RegulatoryReporting #eMoneyCompliance #FintechLicensing #BaaSCompliance #RiskManagement #FraudPrevention #BankingRegulation #ComplianceSolutions #DataPrivacy #GDPR #CrossBorderCompliance #Fincrime #SecurePayments

Australia is entering a pivotal phase in its fight against financial crime with the introduction of Tranche 2 anti-money laundering (AML) reforms. These new measures extend compliance requirements beyond financial institutions to “gatekeeper professions” such as law firms, real estate agents, accountants, trust and company service providers, and dealers in precious metals and stones, claims KYC360. Read here: https://lnkd.in/eSbtgeeR Stephen Platt

RE: Property agents run into difficulty over enhanced anti-money laundering rules. - Singapore property agents get deadline extension until Dec 31 to fully implement new anti-money laundering rules after industry feedback on challenges. - Agents face difficulties collecting sensitive financial information from unrepresented parties; there's concern it may slow down transactions. - CEA says these rules, aligned with international standards, aim to combat illicit financing. 👇 🔗: https://lnkd.in/gn8Wi9Pw

http://bit.ly/46MsBAs For firms with clients who are foreign nationals or who move a lot of money around, the Anti-Money Laundering rule is a big deal. New proposals will impact compliance and the bottom line. Evan Hall Haynes and Boone, LLP Madhu G Nadig Flagright U.S. Securities and Exchange Commission U.S. Department of the Treasury Financial Crimes Enforcement Network, US Treasury Family Wealth Report Tom Burroughes #AML #compliance #RIAs

In my recent one-on-one with Brendan Thomas, CEO of AUSTRAC, one message was clear: Australia’s Tranche 2 gap isn’t a technical oversight, it’s an active laundering channel. And criminals are exploiting it. In my latest piece for The Diplomat, I asked Brendan directly about the greatest financial crime threats facing Australia. His response: “We are exposed to significant regional money laundering organisations operating in Asia and the South Pacific… They have a strong presence in Australia and play a significant one in the movement of illicit finance.” He warned that scam centers in Southeast Asia now pose a major laundering risk to the Australian economy, and that crypto is playing a direct role in narcotics and fraud flows. But the deeper concern lies in the gateways that remain open. Until Tranche 2 takes effect in July 2026, law firms, accountants, trust and company service providers, and real estate agents still operate outside the AML perimeter. That combination, Brendan emphasized, creates a “structural” vulnerability, one that’s already being used to move illicit funds into asset ownership through nominee structures and professional proxies. As I wrote: “That gap is not theoretical. It is operational.” Tranche 2 isn’t a checkbox reform. It’s a national financial safeguard. And it requires real expertise, not recycled banking frameworks or generic policy kits. The sectors coming into scope need controls built for how they actually operate, or they’ll walk into exposure with a false sense of security. Full article is linked below. #AML #Tranche2 #Sydney #Australia #Law #Canberra

🇪🇺 𝐀𝐌𝐋𝐀: 𝐓𝐡𝐞 𝐄𝐔’𝐬 𝐍𝐞𝐰 𝐖𝐚𝐭𝐜𝐡𝐝𝐨𝐠 𝐟𝐨𝐫 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐂𝐫𝐢𝐦𝐞 The European Union (EU) has formed the 𝐀𝐧𝐭𝐢-𝐌𝐨𝐧𝐞𝐲 𝐋𝐚𝐮𝐧𝐝𝐞𝐫𝐢𝐧𝐠 𝐀𝐮𝐭𝐡𝐨𝐫𝐢𝐭𝐲 (𝐀𝐌𝐋𝐀) to strengthen and harmonise financial crime prevention across member states, marking a major shift in how AML will be overseen in Europe.  𝐓𝐡𝐞 𝐀𝐌𝐋𝐀 𝐰𝐢𝐥𝐥 𝐚𝐢𝐦 𝐭𝐨 𝐝𝐫𝐢𝐯𝐞: ✅ Consistent supervision and risk standards across the EU ✅ Direct intervention powers when national authorities fall short ✅ Greater transparency and accountability for institutions and regulators alike For financial institutions, the AMLA signals stricter oversight, higher expectations, and the need for stronger compliance frameworks. ➡️ Read the full blog: https://lnkd.in/eC3JMepJ #EU #FinTech #AML #AMLA #Compliance #FinancialCrime #RegTech #SilentEight

🥳 Successful Unblocking of Client Funds in Polish Subdivision of a Global Business Bank We are pleased to share a recent success story from our team — the unblocking of our client’s bank account and funds held in the Polish subdivision of a global financial institution. The account had been frozen due to suspicions of potential AML and sanctions violations. Thanks to the effective collaboration and professionalism of our team, we were able to: ✅ Collect and present a sufficient set of supporting evidence, ✅ Build a strong and consistent position, ✅ Ensure timely and transparent communication with the bank throughout the process. Our efforts led to the successful restoration of full access to the client’s funds and banking operations. In today’s environment compliance and AML requirements are not just regulatory formalities — they are integral parts of doing business. The risks of payment blocks, frozen accounts, or involvement in investigations are real and growing. We continue to support entrepreneurs, companies, and investors facing similar compliance, sanctions, or banking-related challenges — helping them protect their operations and maintain business continuity in a complex regulatory landscape. #Compliance #AML #Sanctions #Banking #RiskManagement #Legal 

📘 𝙀-𝙗𝙤𝙤𝙠: 𝙉𝙚𝙬 𝙀𝙐 𝘼𝙣𝙩𝙞-𝙈𝙤𝙣𝙚𝙮 𝙇𝙖𝙪𝙣𝙙𝙚𝙧𝙞𝙣𝙜 𝙇𝙚𝙜𝙞𝙨𝙡𝙖𝙩𝙞𝙤𝙣 𝟮𝟬𝟮𝟱 2024 marked a turning point in European anti-money laundering: new rules, new challenges. A far-reaching European package of measures was adopted to combat money laundering and terrorist financing. The package aims to reduce regulatory differences between EU Member States whilst better integrating international recommendations into national legislation. This book covers three key components of the legislative package: • the establishment of the new Anti-Money Laundering Authority (AMLA) • the new Regulation (AMLR) • the Directive (AMLD6) It brings these together – including the recitals – and provides in-depth insight into the implications for supervision, compliance, and practice. Authored by experts Birgit Snijder-Kuipers, Sari Eckhardt, Neyah Van der Aa and Juliëtte Boeser. 🔗 Link to the e-book in the comments. 👉 Essential reading for compliance professionals, supervisors, and legal practitioners navigating Europe’s evolving AML landscape. #AML #Compliance #EuropeanLaw #FinancialRegulation #MoneyLaundering #RegulatoryCompliance

In today’s environment, you can’t do trade finance without compliance. That’s why, for the 8th consecutive year, the TF Compliance Annual Meeting is bringing together leading voices from banks, law firms, advisory, and tech. Next Tuesday in London, experts will take on the sector’s toughest challenges with real conversations, practical guidance, and unfiltered insights you can apply immediately. 🎤 The agenda is packed — and so is the speaker slide. 🔎 Topics include: sanctions compliance, AI manipulation and document fraud, beneficial ownership and KYCC risk, TBML, fraud and AML tech trends, the UK’s ECCTA, and more. 🔗 Register here: (there's still time) https://lnkd.in/ecmgb_6M With support from: Stephenson Harwood LLP | S&P Global Market Intelligence | Lloyd's List Intelligence Event Partners: Association of trade finance compliance professionals (ATFCP) | ITFA

Australia’s Tranche 2 AML/CTF reforms take effect from July 2026, extending obligations to law firms, real estate agents, accountants, trust and company service providers and precious metals/stones dealers. We’ve outlined the key dates, core obligations, and steps organisations should take now to prepare. Read the full checklist: https://lnkd.in/e97-Fm53