Financial Crime Weekly Episode 59

Hello, and welcome to episode 59 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been another quiet week this week, which is good when I’m still busy elsewhere. A few bits on sanctions, fraud, and money laundering, plus a round-up of the interesting cyber-attack news making the headlines this week. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Anti-money laundering: Council adopts rules which will make crypto-asset transfers traceable.

Financial Crimes Enforcement Network (FinCen), Financial Trend Analysis: Ransomware Trends in Bank Secrecy Act Data between July 2021 and December 2021.

General Secretariat of the Council of the EU, AMLR – Proposal for a Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

General Secretariat of the Council of the EU, AMLD - Proposal for a Directive of the European Parliament and of the Council on the mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849.

General Secretariat of the Council of the EU, AMLA - Proposal for a Regulation of the European Parliament and of the Council establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) 1094/2010, (EU) 1095/2010.

UK Financial Conduct Authority, How to change in response to changing threats.

UK government, Financial Sanctions Notice: Global Anti-Corruption.

UK government, Financial Sanctions Notice: Russia.

UK government, Financial Sanctions Notice: Syria.

UK government, Financial sanctions, Russia.

UK government, Financial sanctions, Syria.

UK government, Russia sanctions: guidance; Russia sanctions: guidance (Updated 17 May 2023).

UK government, UK sanctions target Russia’s theft of Ukrainian grain, advanced military technology, and remaining revenue sources (press release).

UK National Cyber Security Centre, Google & NCSC Webinar For Small Organisations.

UK parliament, Regulating Crypto – Report Summary.

UK parliament, Regulating Crypto: Fifteenth Report of Session 2022–23.

US Department of Justice, Former U.S. Army Employee Arrested In Bribery And Kickbacks Scheme Involving Defense Contracts.

US Department of the Treasury, Office of Foreign Assets Control, Treasury Sanctions Russian Ransomware Actor Complicit in Attacks on Police and U.S. Critical Infrastructure.

Which?, Tech firms failing to act against ID theft fraudsters using social media to scam victims, Which? warns.