GILES Thomson has taken over as President of the FATF (Financial Action Task Force) as the UK begins its presidency of the AML watchdog.
GILES Thomson has taken over as President of the FATF (Financial Action Task Force) as the UK begins its presidency of the global AML watchdog.
He replaces Mexico’s Elisa de Anda, who finished her two-year term at the end of June. The FATF said that, under Thomson, it will prioritise tackling the “global fraud epidemic”.
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Investigation into illegal tobacco trafficking ring results in four arrests
The Royal Canadian Mounted Police
The RCMP Federal Policing Northwest Region’s Integrated Money Laundering Investigative Team (IMLIT) in Alberta charged four individuals with various fraud, money laundering, and contraband-related offences.
Following a complex investigation, IMLIT identified a Calgary-based criminal network centered around a multimillion-dollar contraband tobacco trafficking operation. A total of seven search warrants were executed across the Calgary and Airdrie areas, resulting in the seizure of:
More than $3 million in contraband tobacco;
Over 88 kg of unstamped illicit cannabis and cannabis byproducts;
Nearly 10 kg of illicit drugs, including Psilocybin, MDMA, DMT, and LSD;
More than $300,000 worth of precious metals, luxury goods, and a high-value vehicle.
INTERPOL Americas Conference strengthens collective response to organized crime
GEORGETOWN, Guyana – The INTERPOL Americas Regional Conference has concluded after two days of productive discussions, operational exchanges and strategic dialogue among law enforcement leaders.
Delegates examined the evolving threat landscape facing the Americas, with a particular focus on transnational organized crime, illicit financial flows and emerging crime trends.
Twenty-four CFD firms closing in crackdown on misuse of UK authorisation
The FCA was concerned the firms were misusing their authorised status to mislead consumers. Three other firms are currently cancelling their permissions.
The FCA has been challenging CFD firms that carry out little UK business but use their authorisation as a badge to make linked overseas companies look more trustworthy than they really are. This creates the misleading impression that consumers are dealing directly with a UK-regulated firm and benefit from UK protections when they do not.
Firms have faced a range of actions, including restricting their trading abilities, requiring independent reviews of their business and opening enforcement investigations in the 2 most serious cases.
Disclaimer
This article is intended for general information purposes only and does not constitute legal advice. For advice specific to your situation, please contact our team at T & M Legis for a consultation with our Legal Experts.
