Financial Crime Weekly Episode 174

Hello, and welcome to episode 174 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. In this episode, we look at US Treasury sanctions against a Houthi petroleum smuggling network and a clandestine North Korean IT worker network funding missile programmes. The UK’s OFSI warned of rising sanctions evasion in the crypto sector, noting under-reporting and exposure to designated Russian, North Korean, and Iranian entities, while HM Treasury consults on streamlining civil sanctions enforcement. On money laundering, the EU’s Cash Controls Regulation (EU) 2018/1672 was assessed as an efficient instrument against cross-border financial crime despite some challenges, and the Wolfsberg Group reaffirmed its commitment to a risk-based approach, emphasising proportionality and effectiveness. In bribery and corruption, a new UK-India trade deal includes comprehensive measures to combat bribery and promote transparency. For fraud, the SFO Director signalled a new era of aggressive corporate enforcement, leveraging new powers and technology for faster casework. Finally, the UK Government announced key research priorities to strengthen the fight against economic crime, and a major cybercrime forum administrator was arrested in Ukraine.

A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.