General

IntroductionTrade-based money laundering (TBML) is one of the most complex methods used to integrate illicit funds into the legitimate financial system. By manipulating trade transactions—such as over- or under-invoicing, misrepresenting the quality or quantity of goods, or creating fictitious shipments—criminals can obscure the origins of illicit money. TBML thrives in global trade networks, where high…

IntroductionFinancial institutions are at the forefront of efforts to combat terrorism financing (TF). As intermediaries for financial transactions, they play a pivotal role in identifying, reporting, and disrupting the flow of funds to terrorist organisations. However, the complexity of terrorist financing methods—ranging from small-scale cash transfers to sophisticated use of digital assets—poses significant challenges. This…

IntroductionIn an increasingly digital world, identity verification has become a cornerstone of anti-money laundering (AML) and counter-terrorism financing (CTF) compliance. Traditional methods, often reliant on manual processes and physical documentation, struggle to meet the demands of modern financial systems. Digital identity verification offers a faster, more accurate, and scalable alternative, enabling financial institutions to comply…

Introduction The Middle East faces unique challenges in combating terrorism financing (TF), given its geopolitical dynamics, proximity to conflict zones, and reliance on informal financial systems like hawala. For the Gulf Cooperation Council (GCC) nations—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE—addressing these risks is critical to safeguarding their financial systems and maintaining global…

Introduction Africa’s diverse economies, rapid growth, and vast natural resources make it a region of immense potential. However, these same factors also create vulnerabilities to money laundering (ML) and terrorism financing (TF). Informal financial systems, underdeveloped regulatory frameworks, and corruption exacerbate the risks, making it challenging to combat financial crime effectively. This article explores Africa’s…

Introduction The United Kingdom’s departure from the European Union (EU) in January 2020 raised questions about the future of its anti-money laundering (AML) and counter-terrorism financing (CTF) framework. As an EU member, the UK had implemented the EU’s AML directives, including the Fifth (5AMLD) and Sixth Anti-Money Laundering Directives (6AMLD). Post-Brexit, the UK now has…

Introduction The United Nations (UN) has been a central player in shaping global efforts to combat terrorism financing (TF). Its resolutions and conventions serve as the foundation for national legislations worldwide, compelling governments to implement robust frameworks to counter terrorist activities. With its focus on fostering international collaboration, the UN provides a comprehensive legal and…

Introduction Financial crime is a global issue that transcends borders, with money laundering, fraud, and corruption often involving complex international networks. Cross-border collaboration has become essential for combating these crimes effectively. This article explores the importance of international cooperation, highlights successful initiatives, and discusses strategies for enhancing cross-border financial crime risk management. The need for…

Introduction Sanctions remain one of the most potent tools for combating financial crime and achieving geopolitical goals. However, the complexity of global sanctions regimes, coupled with evolving financial crime tactics, presents unique challenges for organisations. This article delves into the intricacies of sanctions compliance, highlights the risks of non-compliance, and explores strategies to navigate these…

Introduction Financial crime risk assessments often focus on regulatory compliance, technological solutions, and operational frameworks. However, cultural differences across geographies can significantly influence the effectiveness of these assessments. From variations in attitudes toward corruption to differing compliance norms, understanding cultural nuances is critical for businesses operating globally. This article explores the role of cultural considerations…