Nearly half of the members of the Council of Europe's anti-money laundering watchdog organization forward less than ten percent of their suspicious transaction reports to law enforcement agencies, the group said Friday. Of the 29 financial intelligence units (FIUs) surveyed by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval), only four alerted investigators about more than 40 percent of the financial regulatory reports, according to a report by the organization. The disparity in numbers "may provide a basis for deeper analysis by the FIUs themselves of the way in which they...
Bankers are more frequently rejecting law enforcement requests to keep open accounts held for the targets of criminal probes despite assurances that the institutions won't be penalized for subsequent transactions, say sources.
Ukraine's legal efforts to curb the funding of terrorism, including the prosecutions of terror financiers, fall short of international standards, a European anti-money laundering watchdog group said Monday.
Financial intelligence units should better share data on counterfeiting with their counterparts in countries known to export a large number of fake goods, according to an intergovernmental report issued Tuesday.
Securities are becoming more attractive to money launderers because of the speed of transactions and the large number of high-dollar trades on exchanges with little oversight, a European anti-money laundering watchdog said Tuesday.