You are here
Established in March 2018, the programme recognises that better information sharing has enhanced the effectiveness of AML in recent years. Beyond these initiatives, however, wider changes are required in order to allow stakeholders to make the most effective use of this information and respond to new challenges.
The programme aims to answer two key questions:
How can core elements of the AML regime be improved to create anenabling environment for the use of technology?
Priority areas of research include:
1. The reporting mechanisms (other than suspicious transactions reports) that provide the most effective and proportionate basis for the use of advanced analytics by AML supervisors and financial intelligence units;
2. Regulatory changes needed in order to allow and encourage the most effective use of technologies in the private sector.
How should the AML framework be adapted in order to address today’s financial crime landscape?
Priority areas of research include:
1. The threat stemming from the proceeds of emerging crimes such as ransomware;
2. The vulnerabilities of sectors such as virtual currencies and e-commerce that call for an innovative AML response.
Research for the Financial Crime 2.0 Programme will be carried out by RUSI's Centre for Financial Crime and Security Studies.
It is funded by EY, Lloyds Banking Group and Refinitiv.
Contacts
Crypto at the Crossroads: Exploring the Impact of the US Treasury’s Bitcoin Sanctions
Commentary, 2 January 2019
Kayla Izenman
The US government’s move against two alleged cyber-criminals serves as a warning sign to the cryptocurrency community. The community may choose to respond by cloaking itself in an even heavier mantle of anonymity, or it may just understand that it stands to gain from policing its activities.
Tags: Centre for Financial Crime and Security Studies, Counter-Proliferation Finance, Cyber, United States, US Defence Policy, AML/CTF, Cyber Security, Sanctions, Illicit Trade, Law and Ethics, Financial Crime 2.0, Organised Crime, Technology
From Money Mules to Chain-Hopping: Targeting the Finances of Cybercrime
Occasional Papers, 29 November 2018
Anton Moiseienko and Olivier Kraft
This Occasional Paper discusses the ways that cyber-criminals manage the proceeds of their crimes, from employing money mules to using services such as mixers to obfuscate the proceeds' origins. It offers recommendations for policymakers, law enforcement professionals and regulated entities to target and reduce these activities.
Tags: Centre for Financial Crime and Security Studies, Counter-Proliferation Finance, Cyber, AML/CTF, UK, Financial Crime 2.0, Organised Crime, Technology
Sharpening the Money-Laundering Risk Picture: How Data Analytics Can Support Financial Intelligence, Supervision and Enforcement
Occasional Papers, 15 November 2018
Olivier Kraft
This Occasional Paper reviews the efforts of national authorities to harness the opportunities of data analytics for anti-money-laundering purposes. It sets out potential methods and their benefits, as well as other factors that should be considered to ensure the proportionality and sustainability of innovative approaches.
Tags: Centre for Financial Crime and Security Studies, AML/CTF, Financial Crime 2.0
When Bankers Need to be More Creative than Hackers: Cybercrime and Money Laundering
Newsbrief, 16 July 2018
Anton Moiseienko and Olivier Kraft
The rise of cyber-dependent crime highlights the challenges facing the anti-money laundering framework in a digital era. This should be viewed as a wake-up call as well as an opportunity to update and improve the antiquated regime.
Tags: Centre for Financial Crime and Security Studies, Cyber, AML/CTF, Information, Financial Crime 2.0, Organised Crime
EY, Lloyds Banking Group and Thomson Reuters to support RUSI review of AML regime
News, 26 March 2018
With the support of EY, Lloyds Banking Group and Thomson Reuters, the Royal United Services Institute (RUSI) will conduct a detailed review of the current anti-money laundering (AML) regime in order to assess what reforms are required to tackle financial crime in the modern age.
Tags: Centre for Financial Crime and Security Studies, AML/CTF, Financial Crime 2.0
Crypto at the Crossroads: Exploring the Impact of the US Treasury’s Bitcoin Sanctions
Commentary, 2 January 2019Kayla Izenman
The US government’s move against two alleged cyber-criminals serves as a warning sign to the cryptocurrency community. The community may choose to respond by cloaking itself in an even heavier mantle of anonymity, or it may just understand that it stands to gain from policing its activities.
Centre for Financial Crime and Security Studies, Counter-Proliferation Finance, Cyber, United States, US Defence Policy, AML/CTF, Cyber Security, Sanctions, Illicit Trade, Law and Ethics, Financial Crime 2.0, Organised Crime, Technology
From Money Mules to Chain-Hopping: Targeting the Finances of Cybercrime
Occasional Papers, 29 November 2018Anton Moiseienko and Olivier Kraft
This Occasional Paper discusses the ways that cyber-criminals manage the proceeds of their crimes, from employing money mules to using services such as mixers to obfuscate the proceeds' origins. It...
Centre for Financial Crime and Security Studies, Counter-Proliferation Finance, Cyber, AML/CTF, Occasional Papers, UK, Financial Crime 2.0, Organised Crime, Technology
Sharpening the Money-Laundering Risk Picture: How Data Analytics Can Support Financial Intelligence, Supervision and Enforcement
Occasional Papers, 15 November 2018Olivier Kraft
This Occasional Paper reviews the efforts of national authorities to harness the opportunities of data analytics for anti-money-laundering purposes. It sets out potential methods and their benefits,...
Centre for Financial Crime and Security Studies, AML/CTF, Occasional Papers, Financial Crime 2.0
When Bankers Need to be More Creative than Hackers: Cybercrime and Money Laundering
Newsbrief, 16 July 2018Anton Moiseienko and Olivier Kraft
The rise of cyber-dependent crime highlights the challenges facing the anti-money laundering framework in a digital era. This should be viewed as a wake-up call as well as an opportunity to update...
Centre for Financial Crime and Security Studies, Cyber, AML/CTF, Newsbrief, Information, Financial Crime 2.0, Organised Crime
RUSI Paper Launch – Targeting the Finances of Cybercrime
Events, 4 December 2018Ranging from bank account takeovers to the theft of cryptocurrency, cybercrime has evolved into a major type of profit-generating crime. Since cybercrime is often financially motivated, disrupting...
Centre for Financial Crime and Security Studies, Financial Crime 2.0
Contribution of Advanced Analytics to AML Supervision and Enforcement
Events, 20 June 2018Organised in cooperation with Italy’s Unità di informazione finanziaria, this international workshop will focus on the use of advanced analytics in the context of AML supervision and enforcement.
Financial Crime 2.0
Strengthening the AML Response to Cyber Crime
Events, 30 May 2018HM Government has recognised the threat posed by hacking, malware infections and DDOS attacks to the security and prosperity of the UK. In recognition of the economic underpinnings of cyber crime,...
Financial Crime 2.0
US and China: Trade, Technology Theft and Arrests
The Role of Verification in the Intermediate-Range Nuclear Forces Treaty Dispute
Unexplained Strategy: Putting Unexplained Wealth Orders to Work