One of the UK’s key financial regulators has revealed how it used AI to identify potential breaches of international sanctions.
Andrea Bowe, Director at the Financial Conduct Authority’s (FCA) Specialist Directorate, said the organisation is looking to increasingly utilise technology.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
New Jersey Man Convicted for Conspiring to Traffic Fentanyl-Related Substances and Launder Money
US Department of Justice
A federal jury in Newark convicted a New Jersey man on Jan. 27 for conspiring to traffic fentanyl-related substances and launder money.
According to court documents and evidence presented at trial, from approximately January 2014 through September 2020, William Panzera, 51, of North Haledon, and other members of a drug trafficking organization, agreed to import and distribute controlled substances and controlled substance analogues, including fentanyl analogues, methylenedioxymethamphetamine (MDMA), methylone, and ketamine. Co-conspirators ordered controlled substances and analogues from a source in China and paid those sources hundreds of thousands of dollars via wire transfer and cryptocurrency.
Drug dealer sentenced after Serious Crime Prevention Order breaches
National Crime Agency
A convicted drug dealer has been given a prison sentence of a year and three months after breaching his Serious Crime Prevention Order (SCPO).
The National Crime Agency's Lifetime Management Unit monitored John Cobbina, 59, from Highbury, north London following his release from prison in 2020.
Cobbina has had prior convictions, first in 2010 for money laundering and supplying class A drugs. He was again convicted in 2016 for conspiracy to supply drugs and in 2017 for possession with intent to supply class A drugs.
Court Jails Man for N19.6m Fraud in Maiduguri
EFCC
Justice Muhammad Maina of the Borno State High Court, Maiduguri on Tuesday, January 28, 2025, convicted and sentenced one Ahmed Saleh Mubi to one-year imprisonment for criminal misappropriation.
Mubi was arraigned on Thursday, September 19, 2024, by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission EFCC, on a one-count bordering on criminal misappropriation to the tune of N19,691, 200.00 (Nineteen Million, Six Hundred and Ninety One Thousand, Two Hundred Naira).