NEWS: EU new AML Authority (AMLA) is ‘hotly sought after agency’ that will attract ‘clustering’ of companies, says Eurogroup President

Regulatory Watch News

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  Garantex Cryptocurrency Exchange Disrupted in International Operation

  US Department of Justice

  March 7, 2025

  Two Administrators Charged with Operating Multibillion-Dollar Crypto Money Laundering Service

  The Justice Department announced today a coordinated action with Germany and Finland to disrupt and take down the online infrastructure used to operate Garantex, a cryptocurrency exchange that allegedly facilitated money laundering by transnational criminal organizations — including terrorist organizations — and sanctions violations. Since April 2019, Garantex has processed at least $96 billion in cryptocurrency transactions.

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  At the AMLintelligence.com Women in Financial Crime Summit 2025 yesterday, FATF Executive Secretary Violaine Clerc highlighted evolving threats of illicit finance and the importance of a risk-based and inclusive approach in the fight against financial crime.

  March 7, 2025

  What are the key takeaways? Criminal networks exploit financial systems through both traditional and emerging methods to launder illicit funds. Illicit financial flows weaken the financial system and economic potential of countries and divert resources that are needed to finance public services such as health, education, justice and security. By promoting payment integrity, through proportionate measures, we can both support financial inclusion and make the international financial system a defensive shield against terrorists and criminals. "It is our job to stay ahead of the threat. As criminals evolve, so must we." - Violaine Clerc.

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  SEC Charges Investment Adviser and Two Officers for Misuse of Fund and Portfolio Company Assets

  SEC

  March 7, 2025

  Washington D.C., March 7, 2025 —

  The Securities and Exchange Commission today filed settled charges against registered investment adviser Momentum Advisors LLC, its former managing partner Allan J. Boomer, and its former chief operating officer and partner Tiffany L. Hawkins, for breaches by Boomer and Hawkins of their fiduciary duties when they misused fund and portfolio company assets.