A.   Background   

1.  This refers to the related QCs in trial, blue, italic and double (a) FRQC 211 dated 18.4.24 about AML & Anti-Corruption efforts accelerated (b) EIQC 268 dated 11.11.23 about Corruption acceptance by PPP Representative on Media (c) BFQC 236 dated 7.11.23 about FATF Finland AML & TF Report and Be careful

2.  We also refer to several Other QCs including (a) BFQC 234 dated 3.11.2023 FATF - Swiss Anti-Money Laundering & TF Report & Pakistan (b) BFQC 227 dated 25.8.23 about Trade Based Money Laundering Risks / AML

B.   Updated Commentary

1.   General

1.1   Further to KQU 3548 of 24.9.25, being an important matter, we would inform you about FATF, Egmont Group, INTERPOL and UNODC call for stronger co-operation between countries as they launch handbook to fight money laundering (Attachment 333.1) in the ensuing paragraph, in Italic with emphasis in bold & Underline, heading ours for quick reading.

1.2   The FATF, Egmont Group, INTERPOL and the UNODC, are calling for stronger global collaboration among analysts, investigators, prosecutors and others as they launch a practical Handbook on International Cooperation against Money Laundering, providing essential tools to help countries speed up investigations and bring more criminals to justice.

1.3    Money laundering almost always crosses borders, and criminals exploit gaps between national legal systems to hide their activities and avoid punishment. Yet, FATF evaluations consistently show that investigating, prosecuting and sanctioning money laundering remains one of the weakest areas worldwide. Without more effective co-operation, countries cannot stop financial crime in its tracks.

1.4    FATF President, Elisa de Anda Madrazo said: “An international threat requires an international response. A victim can often be on the other side of the world to the criminals that are destroying their lives or livelihoods, so we need to see countries working more effectively together and multiplying our defenses to keep people safe, bring more criminals to justice and recover ill-gotten gains.”

2.   Speeding up investigations

2.1   The handbook responds to the globalization of financial systems and rapid technological advancements, which demand faster intelligence and action to keep pace with criminals.

2.2     It therefore promotes informal cooperation, such as secure communication channels, rapid response mechanisms and joint analysis, which can provide faster, more flexible, and targeted investigations, complementing formal, usually legal processes, which are often slower and procedurally complex.

2.3   “This joint handbook is a practical resource that equips financial intelligence units, law enforcement, and prosecutors with the tools they need to cooperate more effectively across borders,” said Egmont Group Chair, Elżbieta Franków-Jaśkiewicz. “By promoting informal cooperation and offering actionable guidance, it helps authorities accelerate investigations, recover illicit assets, and bring more criminals to justice.”

3.   Impactful collaboration

The handbook highlights real-world cases that demonstrate the impact of international cooperation:

(a) Financial Intelligence Units in Italy, Spain and the Netherlands uncovered a €95 million cross-border laundering scheme through joint analysis and intelligence sharing.

(b)  Operation AVARUS-X in Australia, supported by U.S. Homeland Security, dismantled a laundering network exploiting money service businesses to transfer billions of AUD annually.

(c) U.S. and Indian authorities coordinated in real time to seize cryptocurrency assets worth USD 150 million linked to drug trafficking.

(d) An INTERPOL-supported multinational investigation into rhino horn trafficking secured convictions in Singapore, backed by evidence from South Africa.

“Tackling money laundering requires unity across borders and between organizations, and this handbook is an important step in achieving this”, said INTERPOL Secretary General Valdecy Urquiza. “Strengthening cooperation not only strips criminal networks of their profits but also safeguards a global financial system that is vital for prosperity, equality and stability.”

4.   Guides for financial intelligence units, law enforcement and prosecutors

4.1   The organizations warn that criminals will continue to exploit legal loopholes unless financial intelligence units, law enforcement agencies and prosecutors cooperate more effectively.

4.2   They have therefore developed three ‘practical guides’ to accompany the handbook.

4.3   UN under Secretary General Ms Ghada Fathy Ismail Waly, Executive Director of the United Nations Office on Drugs and Crime said: “International co-operation in financial investigations is necessary to combat financial and economic crime. This publication will help practitioners make more effective use of informal co-operation, improve investigation outcomes and ultimately confiscate and recover proceeds of crime. It represents a powerful resource in the lead up to the 2026 UN Crime Congress that will be hosted by the United Arab Emirates in April 2026, which will be an opportunity for Member States to exchange good practices on financial investigations and re-commit to targeting criminal proceeds”.

C.  Further Details & Services

Should you require any clarification or explanations in respect of the above or otherwise, please feel free to email Mr Amsal at amsal@kasbati.co with CC to info.kasbati@professional-excellence.com.

Best regards for Here & Hereafter
Asif S Kasbati (FCA, FCMA & LLB)

Managing Partner 

Kasbati & Co (1400+ Tax, Levies, Companies, Economy, Inflation, HR, Banking, Finance, etc

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