Now here’s your mid-week newsfeed from AML Intelligence:

5 THINGS WE LEARNED FROM FATF:?From Russia to Luxembourg, women leaders and asset recovery, we identify the top 5 things we have learned from last week’s #FATF plenary.?Find the full story here:?5 things we learned from FATF this week on Russia, Luxembourg, women leaders and asset recovery

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CROATIA PLACED ON GREY LIST:?The FATF international financial crime?watchdog?on Friday said it had added EU member state Croatia to its so-called "grey list" of countries under special scrutiny, adding that Cameroon and Vietnam were also added to the list. The move makes Croatia the only EU country on the list, which also includes the United Arab Emirates, Panama and Mali, and comes in response to deficiencies in the country's prevention of money laundering and terrorism financing. T. Raja Kumar, the organisation's chairman, told journalists Croatia had committed to an action plan to improve its compliance and urged the country to implement this plan "as soon as possible. Read the story here:?BREAKING: Croatia placed on FATF’s ‘grey list’ – only EU country on the watchlist; Cameroon and Vietnam also added

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WEAPONS PROLIFERATION WORRIES GREY LIST VIETNAM:?VIETNAM was added to the?watch?list of the FATF grey list over weapons proliferation risks, it's been disclosed. The downgrading of the country's financial status comes despite FATF saying the nation was committed to proving it effectively prevents the financing of the proliferation of weapons of mass destruction. Vietnam is one of the few states with good relations with North Korea, which is actively pursuing a nuclear weapons programme despite widespread global denunciations and international sanctions. Find the story here:?Vietnam placed on FATF’s grey list over weapons-proliferation risks

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SAY CHEESE:?It’s estimated that $300 billion is laundered through the United States annually.?Last year, the US?published?its?2022 National Illicit Finance Strategy, providing a roadmap to close the loopholes that criminals and illicit actors exploit. It outlines four main priorities and 14 supporting actions. Read the full story here:?INSIGHT: Your 5-minute snapshot of all the latest fincrime developments in the US

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PAYRNET LICENCE REVOKED:?The Bank of Lithuania has?revoked?the license of electronic money institution, UAB PAYRNET for systematic and multiple violations of laws.?The institution must return the funds to its clients within the set time limit if it is no longer able to provide financial services.?The Bank of Lithuania will initiate bankruptcy proceedings against the institution.?Find the story here:?Bank of Lithuania revokes licence of electronic money institution for ‘serious’ shortcomings

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CRIMINAL LOOPHOLES REVEALED:?It’s estimated that $300 billion is laundered through the United States annually.?Last year, the US?published?its?2022 National Illicit Finance Strategy, providing a roadmap to close the loopholes that criminals and illicit actors exploit. It outlines four main priorities and 14 supporting actions. Read the full story here:?INSIGHT: Your 5-minute snapshot of all the latest fincrime developments in the US

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CHINA NEEDS TO STEP UP DATA SHARING:?China should allow cross-border sharing of information by?financial?firms operating in the country, a leading financial lobby group said, as authorities tighten control of data generated within its borders in a national security drive. Last July, China unveiled cross-border data review measures that require a security review for "important" offshore data transfers - a move that triggered confusion and concern among foreign financial firms operating in the country. Find the story here:?China should allow cross-border data sharing, financial lobby group says

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SPECIAL REPORT:?Anti-corruption authorities in the United States and Sweden are?reviewing?a complaint alleging that the Swedish affiliate of a U.S. company pledged to pay tens of millions of dollars in kickbacks if a son of Turkey's President Recep Tayyip Erdogan helped it secure a dominant market position in the country.The proposed plan was detailed in communications and business documents seen by Reuters, as well as by a person familiar with the matter. Reuters is reporting this plan and the resulting preliminary probes for the first time. Read the story here:?US, Swedish prosecutors study graft complaint naming son of Turkey’s Erdogan

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SLOVENIA MAKES AML PROGRESS:?Slovenia has “improved” its measures to?combat?money laundering and terrorist financing, according to a follow-up report published today by the Council of Europe’s anti-money laundering body MONEYVAL. The AML experts reveal “minor deficiencies remain.” Read the story here:?Improvements in Slovenia’s AML progress says MONEYVAL report; ‘minor deficiencies’ remain

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SEEKING COMPLIANCE HELP:?E-commerce marketplace Temu is looking to?hire?a compliance officer based in the U.S., job ads showed, after lawmakers scrutinised the Chinese company for allegedly lax practices and policies related to blocking goods from the Xinjiang region. Temu, launched by parent PDD Holdings in the U.S. in September, sells products like $9 dresses and $6 shorts from merchants in China. Find the story here:?PDD’s Temu seeks U.S.-based compliance help amid scrutiny of China goods

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Have a great Wednesday???

Alisha and the team at AMlintelligence.