Money Laundering/AML

The US Department of the Treasury issued the 2022 National Strategy for Combatting Terrorist and Other Illicit Financing (2022 Strategy), aiming particuarly at virtual assets and shell companies. 

What should a client do if they believe they may have mistakenly been sold a piece of stolen art?

UK Foreign Secretary Liz Truss has announced more sanctions against the family and friends of Vladmir Putin. In particular, the latest sanctions target those whom the Russian president rewards with state positions and wealth in return for their loyalty

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is to cut access to services that are used by the Russian Federation Russian elites to evade sanctions from 7 June 2022

Bermuda expects to be taken off an international taxation ‘grey list’ by October. It has been assured that it is now fully compliant with its requirements

Fijian law enforcement officers have executed a seizure warrant freezing the Motor Yacht Amadea (the Amadea), a 348-foot luxury vessel owned by sanctioned Russian oligarch Suleiman Kerimov

The Bermuda Monetary Authority has levied civil penalties totalling $2.1m on Conyers Trust Company Limited, a local entity licensed under the Trusts Act 2001

Governments need to step up their efforts and coordination to combat money laundering and terrorist financing - according to the Council of Europe’s anti-money laundering and counter-terrorist financing body MONEYVAL.

The UK National Crime Agency (NCA) has recovered $23,439,724.98 siphoned out of Nigeria in the 1990s by the associates and family of former Nigerian Head of State, General Sani Abacha

UK National Crime Agency officers have arrested three men wanted by US authorities for their suspected role in an inheritance fraud causing losses worth millions of dollars