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Morocco Reports 31% Rise in Money Laundering and Terrorism Financing Cases in 2023

New trends include links to sports betting, pyramid schemes, and cryptocurrency transactions. The Moroccan Financial Intelligence Unit (ANRF) has documented a sharp 31.48% increase in cases of money laundering and terrorism financing in 2023, as revealed in its latest annual report. A total of 71 cases......

TD Bank to Pay $3 Billion in Landmark Money Laundering Settlement with U.S. Authorities

TD Bank has agreed to a historic settlement of approximately $3 billion with U.S. authorities following revelations of severe lapses in its anti-money laundering practices. Announced on Thursday, the settlement marks the largest of its kind in U.S. history, with the Canada-based financial institution......

Mexico's Military Under Attack: Violence Erupts in Sinaloa Drug Cartel Stronghold

In a dramatic escalation of violence, Mexican military personnel came under attack, and roads were blocked in the northern state of Sinaloa, a stronghold of one of the country's most powerful drug cartels. The outbreak of violence follows the recent arrests of high-profile drug lords Joaquin Guzman......

Panama Papers Saga: Court Clears All 28 Defendants in Money Laundering Case

In a stunning verdict marking the culmination of a years-long legal saga, a Panamanian court has acquitted all 28 individuals charged with money laundering in connection with the explosive Panama Papers scandal. The secret financial documents, leaked in 2016, exposed how some of the world's wealthiest......

Illicit Real Estate Dealings: Financial Intelligence Authority Probes Suspicious Transactions

In a proactive move to combat financial crimes, the National Financial Intelligence Authority (ANRF) has received thousands of suspicious activity reports from notaries, raising concerns over potential money laundering activities within the real estate sector. These reports highlight dubious practices,......

Abu Dhabi to Host Asia Pacific Money Laundering Annual Meet 2024: Global Anti-Money Laundering Milestone

The Asia Pacific Group on Money Laundering (APG) is set to convene its annual meeting in Abu Dhabi, UAE, marking the first time the UAE will host this significant gathering. Scheduled from September 22 to 27, 2024, the event is anticipated to draw more than 400 officials and experts specializing in anti-money......

EU Cash Payment Cap: Key Considerations for Moroccan Travelers

The European Union is ushering in a significant change that demands attention from Moroccan travelers and business professionals. The era of unrestricted cash payments is drawing to a close, compelling adaptation from Moroccans venturing to Europe and engaging in cross-border business transactions. Failure......