AML Weekly Recap and Insights | Week 10th - 14th February 2025
Dear AML Professionals,
Another week has come to an end, bringing with it key developments and insights in the world of financial crime compliance.
I hope this newsletter keeps you informed and provides valuable takeaways as you wrap up the week.
Looking to share knowledge and inspire others in the field?
Why Employees Resist AML
Having worked with many people in various positions, I’ve faced a daily challenge: employee resistance to implement AML requirements.
It took me a few years to realize that the root cause is almost always training.
→ They don’t understand their personal liability.
→ They don’t understand why they’re asked to follow AML requirements.
It’s not that they don’t want to comply. It’s often because they don’t see the risks.
Many think AML is just a box-ticking exercise—until they realize the personal consequences.
So, how do we fix this?
→ Make personal liability real.
→ Explain the ‘why’ behind the processes.
→ Forget dry training. Make AML compliance meaningful.
Employees are the first line of defense, but without the right training, they won’t know how to protect themselves or the business.
Fix the training, and you take a big step toward reducing resistance.
Six suspects have been arrested in France, Spain, and Israel for a multi-million euro investment fraud and money laundering scheme. The criminals lured victims into fake renewable energy investments. They maintained regular contact with the victims and even returned small amounts as small "interest" payments to build trust before stealing larger sums. The funds were then moved through company bank accounts inside and outside the EU to obscure their origins. A coordinated Europol-led operation on 27 January 2025 led to arrests and the seizure of EUR 133,800 in cash and luxury items. Investigators have recovered EUR 450,000 so far, with efforts ongoing to trace more funds.
Two Estonian nationals have pleaded guilty to operating a $577 million cryptocurrency Ponzi scheme, defrauding hundreds of thousands of victims worldwide. From 2015 to 2019, they sold fake crypto mining contracts through HashFlare, fabricating profits while using customer funds to buy real estate, luxury vehicles, and investments. The defendants laundered proceeds through investment and crypto accounts, concealing illicit gains. They agreed to forfeit over $400 million, which will be used to compensate victims. Each faces up to 20 years in prison, with sentencing set for May 8, 2025.
On February 13, 2025, Australia passed the Scams Prevention Framework, a groundbreaking law requiring banks, telecom companies, and social media platforms to detect, disrupt, and report scam activities. Businesses failing to meet robust scam prevention standards could face fines of up to $50 million, and victims will have clear pathways to compensation if these standards are not met. While not guaranteeing automatic refunds, the framework strengthens consumer protections and holds businesses accountable.
In case you missed my LinkedIn posts this week:
Monday 10th February: FinCEN Fines Armored Car Company $37M for AML Violations (2 min read)
Tuesday 11th February: Our Monthly Newsletter is Here: What makes a transaction suspicious? (8 min read)
Wednesday 12th February: Policies don’t determine the success of an AML program (1 min read)
Thursday 13th February: Where do i stop? (2 min read)
Friday 14th February: Want to Grow In AML? Be Accountable (2 min read)
That's all for this week! Wishing you great weekend!
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Don't hesitate to schedule a call with our team to discuss how we can help.
Best regards,
Anna Stylianou
