AML Weekly Recap and Insights | Week 4th - 8th August 2025

Aug 08, 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.

Announcement of new Live Online Course: AML in 2025: Trends, Regulatory Shifts & Strategic Priorities for Cypriot Firms
I am happy to announce that I will be providing a new Live Online Course for compliance professionals in Cyprus with a strategic updated on the evolving AML landscape and upcoming regulatory changes.
Dates: 7 & 8 October 2025
Format: Two live online sessions (2.5 hours each)
Price: €210 + VAT - 𝗘𝗮𝗿𝗹𝘆 𝗯𝗶𝗿𝗱: €𝟭𝟳𝟬 + 𝗩𝗔𝗧 𝘂𝗻𝘁𝗶𝗹 𝟮𝟱 𝗔𝘂𝗴𝘂𝘀𝘁

Learn more here

Let’s see this week’s AML highlights:

The Importance of Staying Curious

In the world of compliance, staying curious is more than just a nice-to-have trait. It's actually a necessity. Because, as professionals deeply involved in the fight against financial crime, our landscape is continually evolving. New scams emerge, regulations shift, and technologies advance at lightning speed.

Curiosity drives us to question the status quo and seek deeper understanding in our daily roles. It encourages us to ask, "Why?" and "What if?" - prompting innovative solutions and new perspectives. This mindset not only helps us adapt to change but also empowers us to anticipate challenges before they arise.

So, let’s embrace curiosity. Let it guide our learning and inspire us to explore new avenues for improvement. In doing so, we not only enhance our own capabilities but also strengthen the integrity of the systems we work to protect.

Wishing you a curious and fulfilling weekend!

Warm regards,

Anna

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Here are this week’s AML/CFT highlights:

AUSTRAC Initiates Legal Action Against Mounties for AML/CTF Failures
AUSTRAC has commenced civil proceedings against Mounties, a prominent Australian club, for significant breaches of the AML/CTF Act. The club’s inadequate risk assessments and transaction monitoring systems exposed it to money laundering risks. This action underscores AUSTRAC’s zero-tolerance policy towards systemic compliance failures, especially in high-risk sectors like gambling.
EBA Consults on Revised Internal Governance Guidelines
The European Banking Authority has released a consultation paper to strengthen governance and AML/CTF controls within EU banks and investment firms. Key proposals include mandating a distinct AML compliance function and enhancing board oversight. This move aims to harmonize standards and prevent governance failures witnessed in recent financial scandals.
FinCEN Alerts on CVC Kiosk Scam Risks
FinCEN has issued a notice addressing the rising AML/CFT risks linked to Convertible Virtual Currency (CVC) kiosks, highlighting schemes where scammers exploit these machines for fraudulent transfers. Financial institutions are urged to enhance monitoring and reporting frameworks to detect suspicious activities involving virtual currencies.