AML Weekly Recap and Insights | Week 31st March - 4th April 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.
If you want to learn what to expect this year in the area of anti-financial crime, download the Anti-Financial Crime 2025 Report! Packed with expert contributions and practical guidance, it’s a must-read for compliance professionals navigating today’s challenges.
Most AML professionals don’t struggle with knowing what to do…
They struggle with getting others to listen.
You see the red flags. You know when something feels wrong.
But you're often overruled, under-resourced, or ignored altogether.
Because in many organisations, “growth” talks louder than “risk”.
This isn’t just frustrating - it’s dangerous.
AML isn’t just a checklist. It’s a risk function with real consequences.
So here’s a reminder for the week ahead:
Your voice matters - even when it feels like no one wants to hear it.
Keep speaking up. Keep pushing for better.
You’re not just ticking boxes. You’re protecting the business.
Have a great weekend!
Anna
The Monetary Authority of Singapore (MAS) released a consultation paper proposing amendments to its AML/CFT/CPF Notices for financial institutions and Variable Capital Companies (VCCs). The changes aim to strengthen regulatory requirements around customer due diligence, risk management, and transaction monitoring. These updates are intended to align with evolving FATF standards and address emerging financial crime risks.
Dutch lender Rabobank will face court proceedings after failing to reach a settlement with prosecutors over alleged AML failings. Authorities claim the bank neglected to properly vet customers and report suspicious transactions over several years. The investigation, launched in 2022, centers on breaches of national anti-money laundering laws.
Block Inc., the owner of Cash App, has agreed to pay a $40 million fine to New York's Department of Financial Services over AML compliance failures. Regulators cited major gaps in the firm’s Bank Secrecy Act, AML, and KYC programs. Block will also appoint an independent monitor as part of the settlement.
In case you missed my Weekly LinkedIn Activity:
Monday 7th April: OKCoin Europe faced a €1M+ penalty for AML failures
Tuesday 8th April: Monthly AML News and Updates: Why Fintechs and Crypto Firms Struggle with AML
Wednesday 9th April: Compliance Doesn’t Show on the Balance Sheet - Until It Does
Thursday 10th April: Lithuania Fines Revolut €3.5 million
Friday 11th April: The people who grow the fastest in AML have the right mindset
FYI: This week, a new FREE tool was releazed for AML professionals: AMLTRIX - an open-source, free-of-charge framework, listing money laundering typologies, risk indicators and risk mitigation tools in a structured, usable way. You can use it to build your transaction monitoring rules, identify red flags or as part of your trainings!
Two new short-read articles were published on AMLCube - for busy professionals:
What a €3.5M AML Fine Teaches Us About Fintech Compliance
That's all for this week! Wishing you a great weekend!
Wondering who we are? AML Cube and its associates can assist you with:
AML Compliance
Sanctions Compliance
MiCA Regulations
Cybersecurity / DORA Compliance
Don't hesitate to schedule a call with our team to discuss how we can help.
Best regards,
Anna Stylianou