AML Weekly Recap and Insights | Week 28th April - 2nd May 2025

May 02, 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.

Download the Report for free

When Things Go Hard

Disagreements with management are part of the job. Especially in compliance.

You flag a risk. You lay out the facts. And then… silence. Or worse, resistance. It can feel like you're speaking a different language.

But here’s the thing: Your job isn’t to win every argument. Your job is to show up, speak clearly, and stand by your professional judgment - regardless of the outcome.

When things get hard, stay calm. Don’t take it personally. You’re not there to please everyone. You’re there to protect the business, even when the business doesn’t see it that way.

Treat resistance as information. Where’s the resistance coming from? Fear? Lack of understanding? Competing incentives? Dig deeper. Clarify the risk. Offer options. Stay factual, not emotional.

And when the decision doesn’t go your way? Document everything. Protect your integrity. You can’t control others, but you can control how you respond.

Remember: Quiet confidence speaks louder than frustration. Especially when the stakes are high.

You’re not here to avoid discomfort.. you’re here to manage it with clarity and strength.

With this thought, I am wishing you a great weekend!

Regards

Anna

Here are some interesting news related to financial crime this week:

Federal Reserve Updates Oversight Approach to Crypto Activities: The Federal Reserve has withdrawn its 2022 and 2023 guidance requiring banks to notify or seek nonobjection before engaging in crypto-asset and dollar token activities. These activities will now be supervised through the standard examination process. Additionally, the Fed and Federal Deposit Insurance Corporation (FDIC) have withdrawn from two joint statements on crypto risks issued with the Office of the Comptroller of the Currency (OCC). The changes reflect a more integrated supervisory approach, aligning oversight with evolving market developments while supporting innovation.
Eight Countries Launch Taskforce to Tackle Violence-as-a-Service and Youth Exploitation: Europol and eight EU countries, led by Sweden, have launched OTF GRIMM to combat the growing use of “violence-as-a-service,” where criminal groups outsource violence to young people. These groups exploit vulnerable youth through social media, glamorising crime and offering money or status in exchange for carrying out assaults, threats, or even killings. The taskforce will coordinate intelligence, dismantle service providers, and work with tech platforms to disrupt recruitment. Europol urges parents to watch for signs like unexplained purchases or sudden behaviour changes and offers guidance to help protect at-risk youth.
Three Members of Chinese Money Laundering Network Plead Guilty to Laundering Drug Proceeds: Three individuals - two Chinese nationals and one U.S. resident - have pleaded guilty to laundering over $92 million in drug trafficking proceeds as part of a Chinese money laundering organization operating across the U.S. Maoxuan Xia admitted to personally laundering more than $30 million in less than two years, while Shao Neng Lin and Zhou Yu used shell companies to move roughly $40 million each. The funds stemmed from drug trafficking operations, mainly linked to Mexico.