FATF, INTERPOL AND EGMONT GROUP TOGETHER ADVISE REFORMS ON FIGHTING CYBER-FRAUD ML
November 22nd, 2023
FATF, Interpol and the Egmont Group have called on governments to undertake three priority reforms to combat the increasing amount of money laundering generated by cyber-enabled fraud. These attacks have mushroomed during and since the Covid-19 pandemic. The US FBI said in June (2023) that cyberattacks and cyber-enabled frauds in the USA cost more than USD10.2 billion in 2022, up from USD6.9 billion in 2021 (1)
In a new FATF/Interpol/Egmont Group report released this month (November) ‘Illicit Financial Flows from Cyber-Enabled Fraud’ [CEF], the three ...
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