Money Laundering Bulletin

The UK's National Crime Agency (NCA) is pursuing disruption of Russian money laundering networks in Britain and overseas, whose funds might help Moscow finance its invasion of Ukraine.

The European Commission, on 3 December, listed Russia as a high-risk third country over deficiencies in its anti-money laundering and counter financing of terrorism regime.

Done Brothers (Cash Betting) Limited, which operates on UK high streets as Betfred, has been ordered to pay UK£825,000 (US$1,100,000) after the UK Gambling Commission found failings in its anti-money laundering controls and approach to social responsibility.

The Basel Institute on Governance has warned that anti-money laundering and counter financing of terrorism and proliferation of weapons of mass destruction (AML/CFT/CFP) performance worldwide is stalling, with some improvements in formerly weak jurisdictions offset by slippage from high standards by the top performers.