In the next instalment of our global horizon series (first instalment available here), our team observes a growing trend of increased international collaboration between regulators in different jurisdictions despite wider geopolitical tensions. 

Europe

The European Public Prosecutor’s Office (EPPO), the independent public prosecution office of the European Union has become increasingly active. It is responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU.  

According to EPPO’s annual report, EPPO initiated more than 1,500 investigations in 2024 which is an increase of 10% compared to 2023. The increase is said to be, among others, the result of improved cooperation between EPPO and national authorities. For more information, please see: link. For an example of a current EPPO investigation supported by Dutch local authorities, please see: link. 

Germany

Germany is actively involved in several international task forces focusing on combating cross-border crimes and investigations, especially in the areas of economic and tax offences as well as sanctions violations. Key initiatives include Germany’s involvement in the FATF, as well as the OECD Task Force on Tax Crimes and Other Crimes, where Germany contributes to developing international frameworks to combat cross-border tax evasion. Additionally, Germany regularly participates in Joint Investigation Teams (JITs) coordinated by Europol, enabling joint investigations within other EU member states.

The Federal Criminal Police Office (Bundeskriminalamt, BKA) plays a central role in coordinating international investigations working closely together with Interpol, Europol and different partner states to pursue complex financial crimes.

The UK

International collaboration continues to play a significant role in shaping the UK’s approach to bribery and corruption, and sanctions and international trade enforcement. In March 2025, the UK, French and Swiss governments announced the creation of the International Anti-Corruption Prosecutorial Taskforce, comprising of the UK’s Serious Fraud Office, France’s National Financial Prosecutor’s Office and Switzerland’s Office of the Attorney General.  The taskforce affirms these authorities’ shared commitment to tackling international bribery and corruption and is aimed at strengthening the foundation for collaboration on cases, as well as increased sharing of insight and strategy, including sharing best practices. The SFO have also expressed support for a continued collaboration with the US DOJ.

The Foreign Secretary has confirmed that the UK is, and will continue to work with, the EU and other international partners in relation to sanctions. For example, on 13 January 2026, the Foreign Secretary announced that the UK would be imposing further sanctions and other sectoral measures on Iran and noted that she would be working with other international authorities to explore what further measures may be required in response to Iran’s increased instability.

Canada

Canada is a founding member of the FATF, which sets global standards against anti-money laundering and terrorist financing. In 2025 Canada underwent an FATF Mutual Evaluation, with a report expected in June of 2026. This appears to have spurred an increase in AML enforcement activity in Canada, including: 

  • On July 28, 2025, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which administers Canada’s AML and anti-terrorist financing regime issued a $19,552,000 penalty against Peken Global Limited, operating as KuCoin, a cryptocurrency exchange. This is the second largest penalty that FINTRAC has issued. KuCoin has appealed the penalty to the Federal Court. 
  • On October 22, 2025, Xeltox Enterprises, another cryptocurrency exchange, was fined $176,960,190 for 2,593 contraventions of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations across six types of violations. This is currently the largest penalty that FINTRAC has imposed. 

Against the backdrop of recent high-profile AML files and various legislative amendments imposing enhanced AML/CFT obligations on different industries and sectors (see our articles here and here), we expect robust enforcement in this space to continue. 

UAE

There has been a marked increase in efforts by the UAE to collaborate and cooperate with international agencies. For example, the New UAE AML Law mentioned above, makes it easier to recover, seize and confiscate criminal proceeds by allowing the enforcement of foreign judgments and court orders related to the confiscation of criminal proceeds, even where there is no UAE national investigation or ratified convention with the foreign jurisdiction. 

We have further seen that there is increased cooperation between UAE authorities and the Serious Fraud Office in the UK and anticipate that this will only increase with the introduction of the UK’s new Failure to Prevent Fraud offence, which has extensive extraterritorial reach. 

From a more regional perspective, at the beginning of October 2025 the UAE also participated in the launching of the MENA Asset Recovery Inter-Agency Network (MENA-ARIN), a regional network in the Middle East and North Africa aimed at facilitating cooperation amongst law enforcement and juridical agencies to locate, trace, freeze and recover illicit assets. 

Singapore

Singapore is an active member of the global community and frequently collaborates with its international counterparts across different agencies and subject matter, including in relation to investigation and enforcement of financial crime and other cross-border offences, as well as confiscation of criminal proceeds.

Mechanisms for cooperation include formal mutual legal assistance (MLA) treaties, exchange of intelligence and assisting with informal requests to the extent permissible under Singapore law. It was reported in 2025, for example, that Indonesia’s Attorney General’s Office had sought to interview employees of Singapore-based trading companies in connection with a corruption probe into a state-owned energy company, with interviews stated to be conducted in Singapore at the premises of the Singapore Corrupt Practices Investigation Bureau.

Combatting money laundering and countering the financing of terrorism and proliferation financing continues to be a significant focus for Singapore, which is an active member of the FATF and is presently undergoing its 5th round of the FATF Mutual Evaluation. 

South Africa  

South Africa’s FATF delisting in October 2025 recognised progress in supervision, enforcement and international cooperation.  To consolidate these gains ahead of the next FATF evaluation cycle (mid-2026 to October 2027), authorities have launched a consultation on a further  Amendment Bill.  Proposals include expanding the powers of the AML regulator, the Financial Intelligence Centre (FIC), in terms of information-sharing, strengthening oversight of NGOs and beneficial ownership and enabling the use of lifestyle audits.  The National Treasury also confirmed related changes to the FIC Act, such as enhanced data sharing with the Public Procurement Office and Border Management Authority.

Despite a stronger foundation for international collaboration, practical constraints remain.  MLA processes can be slow, institutional capacity is uneven, and interagency coordination can be inconsistent.  In December 2025, the Prudential Authority’s Banking Sector Risk Assessment noted persistent gaps, particularly among smaller banks, in customer due diligence, beneficial ownership verification, transaction monitoring, and targeted financial sanctions governance.  This has guided intensified supervision into 2026 as authorities focus on legislative refinement and sector remediation.