Money Laundering-Related Developments for February 2025
Jonathan Rusch
Law Professor, Lawyer, Expert Witness, and Thought Entrepreneur on Law, Compliance, and Ethics Issues
Here’s the latest monthly roundup of money laundering-related developments, as compiled by the American University Washington College of Law’s Anti-Corruption Law Program.
Money Laundering-Related Reports, Releases, and Analyses (as of February 28, 2025)
Note: Inclusion of any links herein does not guarantee that the reader will be able to get past a particular publication’s paywall without a subscription to that publication. Readers may be able to obtain copies of such materials through their institution’s library.
General Money Laundering-Related Developments
Juliana Taiwo-Obalonye, Nigeria moves closer to exiting FATF grey list as 5th progress report gets approval, The Sun Nigeria, February 24, 2025, link here.
-??????? Summary: Nigeria remains on track for removal from the Financial Action Task Force’s gray list by the end of the year, with an action plan set for completion by May 2025.
Helen Flores & Keisha Ta-Asan, Philippines exits FATF money laundering ‘gray list,’ The Philippine Star, February 23, 2025, link here.
-??????? Summary: The Philippines has been removed from the Financial Action Task Force’s gray list after making significant progress in strengthening anti-money laundering and counter-terrorism financing measures, a move expected to enhance global confidence and attract more foreign investments.
Government Documents, Reports, and Speeches
Manitoba Announces Measures to Combat Money Laundering, CPAC, February 3, 2025, link here.
Investigations, Prosecutions, and Regulatory Actions
British National Indicted in Organized Multi-state Fraud and Money Laundering Scheme, U.S. Attorney’s Office – District of Rhode Island, February 27, 2025, link here.
-??????? Summary: A federal grand jury returned an indictment charging Elijah Gavin, a British national from Northern Ireland, with wire fraud conspiracy, wire fraud, and money laundering, for his role in a multi-state construction and money laundering fraud scheme.
Montana man convicted in cryptocurrency money laundering conspiracy, U.S. Attorney’s Office – Eastern District of Texas, February 27, 2025, link here.
-??????? Summary: A federal jury found Randall V. Rule, of Montana, guilty of a cryptocurrency money laundering conspiracy following a three-day trial.
Switzerland fines Morgan Stanley $1 million over 2010 money laundering case, Reuters, February 27, 2025, link here.
-??????? Summary: The Swiss attorney general’s office fined Morgan Stanley’s Swiss operations $1 million for failing to prevent a client advisor from laundering bribery-related assets in 2010, stemming from the case of former Greek Defence Minister Akis Tsohatzopoulos.
Vietnam police bust $78.5M cross-border money-laundering ring, MSN, February 25, 2025, link here.
-??????? Summary: Vietnam police arrested 21 people involved in a money-laundering scheme between Vietnam and Cambodia that utilized 30 companies and 150 bank accounts to launder funds linked to gambling and online fraud.
Former Tunisian FA boss Jary jailed for corruption, BBC, February 21, 2025, link here.
-??????? Summary: Wadie Jary, the former Tunisian Football Federation President, received a four-year custodial sentence on corruption charges related to an unlawful contract during his tenure, though he plans to appeal the verdict.
Eve Webster, Russian mafia money-laundering ring broken up in Spain, BBC, February 19, 2025, link here.
-??????? Summary: Over a dozen people were arrested in Spain and Portugal for operating a money laundering network involving illegal drug trafficking profits across Europe.
Nate Raymond, Texas judge clears way for anti-money laundering law’s enforcement, Reuters, February 18, 2025, link here.
-??????? Summary: A federal judge in Texas lifted the order halting enforcement of the Corporate Transparency Act while the U.S. Department of Justice appeals the earlier ruling that declared the law unconstitutional.
Tom Ball, Chagos Islands deal broker faces accusations of money laundering, The Times, February 16, 2025, link here.
-??????? Summary: Former Mauritian Prime Minister Pravind Jugnauth, who negotiated Sir Keir Starmer’s deal to cede the Chagos Islands to Mauritius, was arrested on suspicion of money laundering, prompting renewed criticism of the agreement.
Ben Martin, Barclays investigated by City watchdog over money-laundering controls, The Times, February 13, 2025, link here.
-??????? Summary: Barclays is under investigation by the Financial Conduct Authority for potential failures in its anti-money laundering controls and other financial crime management, adding to the bank’s ongoing regulatory challenges.
Tom Ball, Tulip Siddiq money-laundering inquiry widened to 12 countries, The Times, February 9, 2025, link here.
-??????? Summary: Bangladeshi authorities expanded their money laundering investigation into Tulip Siddiq and her family to a dozen countries as they probe claims of misappropriated funds linked to her aunt, former Prime Minister Sheikh Hasina.