Money Laundering Bulletin

Tensions are rising with US military build-up in the Gulf, following the Iranian regime's latest crushing of popular protests, over escalating prices, the product of decades of toughening international sanctions. That economic hostility shows no sign of abating, reports Paul Cochrane, as the US and EU make further designations and the United Nations triggers the snap-back process over lack of access to the country's nuclear facilities.

Financial firms in the European Union are starting to comply with new guidelines from the European Banking Authority (EBA) regarding their sanctions-related systems and controls. Many are struggling: Chris Hamblin looks into why.

It's the message that all AMLers, whether law enforcers or in compliance, learn. And it's surely right, as criminals are, by and large, motivated by enjoying that which isn't theirs: in tracing stolen funds, there's a good chance of catching the bad guys.

Geopolitical uncertainty - all-out war in some jurisdictions - and gyrations in US economic policy are driving up the price of gold, a safe haven asset, which, in turn, heightens its appeal to criminals as a non-cash value transfer mechanism: the figures, such as they are, bear this out, with the illicit activity often carried out in plain sight, finds Paul Cochrane.

There is general agreement that risks posed by trade-based money laundering (TBML) are significant - but should it be considered as much a problem within domestic commerce as a weakness of international trade? Keith Nuthall hears some persuasive argument.

The Financial Action Task Force (FATF) has started work on its 2026-28 policy priorities, choosing a new president to work from 1 July and approving guidance on cyber-enabled fraud and virtual assets, flagging these as major concerns.

Only now - that is, from 1 July 2026 - are Australian non-financial businesses and professionals to be covered by anti-money laundering obligations. They should be well prepared, not least as AUSTRAC, the financial intelligence unit, has created tailored starter kits for how to comply. Keith Nuthall looks at the rollout plan.

From initial focus on money in illegal narcotics, the AML project has evolved and expanded over the last four decades to cover the proceeds of many more predicate crimes and a growing range of reporting sectors - but is it achieving anything worthwhile? In a wide-ranging discussion, Jim Richards, frontline AML veteran and close observer of the financial crime scene, talks to Paul Cochrane about priorities, resource allocation, jeopardy and impact across private and public sectors, why he likes rules, would ban crypto ATMs and puts a question mark over the risk-based approach.