Money Laundering Bulletin

The goal of identifying alerts in transaction monitoring output that will translate into suspicious activity reports, long a labour-intensive triage process, may, Keith Nuthall finds, be set for full and effective automation through AI, but the benefits will only be realised if law enforcement is geared to manage and integrate more, higher quality filings with other criminal intelligence.

The Financial Action Task Force (FATF) has released comprehensive 340-page guidance designed to boost the seizure of criminal assets by governments, law enforcement, prosecutors, courts and asset managers.

BaFin, the Germany financial services regulator has ordered Frankfurt-based JPMorgan SE to pay €45 million (US$59 million) after it failed to submit timely suspicious transaction reports.

Coinbase Europe, wholly owned by Coinbase Global, Inc, the world's third largest cryptocurrency exchange by volume, has been censured and ordered to pay a civil monetary penalty of €21,464,734 (US$24,830,190) by the Central Bank of Ireland (CBOI) for flaws in transaction monitoring and delayed filing of suspicious transaction reports (STRs) dealing with trading on the darknet, in illegal narcotics, malware, ransomware, child sexual abuse material, money laundering, scams and potential breaches of US sanctions. The misconduct occurred between 23 April 2021 and 19 March 2025.