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NEWS: UAE temporarily shuts down 32 gold refineries over hundreds of AML violations

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The UAE has been trying to clean up its international AML image

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NEWS: UK uses sanctions against citizen involved with ‘New IRA’ terror group

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NEWS: Norway wealth fund’s watchdog to probe shoemakers, crypto firms over ethics in 2025

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NEWS: ‘Australia had a hole in its AML standards for a long time’ – head of AUSTRAC

By PAUL O’DONOGHUE, Senior Correspondent THE United Arab Emirates is temporarily shutting down production at 32 goldmines as part of a money laundering crackdown. The facilities, which represent approximately 5% of the UAE’s gold sector, will be closed between July 24 and October 24. The Ministry of Economy said the move came after the refineries…

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NEWS: UK uses sanctions against citizen involved with ‘New IRA’ terror group

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NEWS: Norway wealth fund’s watchdog to probe shoemakers, crypto firms over ethics in 2025

 Premium

NEWS: ‘Australia had a hole in its AML standards for a long time’ – head of AUSTRAC

Regulatory Watch News

  • Treasury Intensifies Pressure on Iranian Shadow Fleet

    US Department of the Treasury

    WASHINGTON — Today, the United States is imposing sanctions on 35 entities and vessels that play a critical role in transporting illicit Iranian petroleum to foreign markets. This action imposes additional costs on Iran’s petroleum sector following Iran’s attack against Israel on October 1, 2024, as well as Iran’s announced nuclear escalations, building upon the sanctions issued on October 11. Petroleum revenues provide the Iranian regime with the resources to fund its nuclear program, develop advanced drones and missiles, and provide ongoing financial and material support for the terrorist activities of its regional proxies.

  • Financial sanctions update: Counter-Terrorism (Domestic)

    OFSI

    1 entry has been added to the consolidated list under the Counter-Terrorism (Domestic) regime. On 3 December 2024, pursuant to The Counter-Terrorism Regulations, HM Treasury designated the following individual, who is now subject to an asset freeze:

    • Brian Anthony Sheridan (Group ID: 16705)
    This action is the third use of the Treasury-led domestic counter terrorism regime, used to target those who it has reasonable grounds to suspect are involved in terrorist activity.

  • Drug cartel grind to a halt with six major arrests in Colombia

    Europol

    In a long-term investigation supported by Europol, law enforcement authorities from Belgium, Colombia and Spain have dismantled a drug ring orchestrating large-scale cocaine trafficking from Colombia to the EU. The national authorities involved arrested 32 individuals in total, including the leader of the network. Law enforcement also seized 5.8 tonnes of cocaine in Colombia (Cartagena and Baranquilla) and on European soil in Spain (Barcelona and Valencia) and Belgium (Antwerp). The sting was coordinated by Europol’s Operational Taskforce.

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