AML Weekly Recap and Insights | Week 17th - 21st February 2025

Feb 21, 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.

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The challenge of overlooking the familiar

Experience in AML is necessary as it sharpens your ability to detect risks quickly.

You recognize patterns, anticipate behaviors, and can often predict outcomes before they happen.

BUT there’s a hidden risk that comes with this expertise: becoming too comfortable with what seems familiar.

Why this may be a problem?

It’s easy to fall into the trap of thinking:
↳ “This client has always been low-risk -nothing to worry about.”
↳ “I’ve seen this transaction type before - it’s probably fine.”

It’s so easy to miss red flags in familiar patterns.

But you need to remember that financial crime doesn’t stand still.

Criminals evolve their methods, and what was once considered low-risk can quickly become a blind spot.

What you can do:

How can you prevent this?

→ Regularly challenge your assumptions.

→ Ask for a second opinion

→ Learn to rely on data, not only your instinct

→ Stay informed about emerging risks.

Remember: Yesterday’s patterns don’t always explain today’s risks.

Wishing you a great weekend!

Europol Cracks Down on €1 Million Money Laundering Network in Spain and Portugal: In a major crackdown against money laundering, Spanish and Portuguese authorities, with Europol’s support, dismantled a criminal network primarily composed of Russian nationals offering money-laundering services to EU-based criminal organizations. The group, active mainly in Spain, used the Hawala method—an informal value transfer system—to move illicit funds, primarily from drug trafficking. They laundered over EUR 1 million, with daily transactions sometimes reaching EUR 300,000. The operation led to 14 arrests, 9 house searches, and the seizure of over EUR 1 million in cash and cryptocurrencies.
FATF Plenary Meeting: 19 to 21 February 2025: This week, from 19 to 21 February 2025, the Financial Action Task Force (FATF) is convening its second Plenary under the Mexican Presidency of Elisa de Anda Madrazo in Paris. Delegates from over 200 members of the Global Network and observer organizations, including the International Monetary Fund, United Nations, World Bank, INTERPOL, and the Egmont Group of Financial Intelligence Units, are participating in discussions. A summary of the Plenary's decisions will be published on the FATF website following the meeting's conclusion. A press conference is scheduled for 16:30 CEST on Friday, 21 February, where the FATF President will announce the outcomes.