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NEWS: AUSTRAC says staff using AI won’t reveal ‘personal’ details to tech firms

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NEWS: Shareholder backlash at TD Bank AGM following money laundering scandal

INSIGHT: How the 2025 election ‘supercycle’ creates new compliance risks for banks

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NEWS: MEPs assess drug trafficking security at Port of Rotterdam and Antwerp

By PAUL O’DONOGHUE, Senior Correspondent AUTRALIA’S financial intelligence unit, AUSTRAC, has pledged that staff using publicly available artificial intelligence (AI) tools will not reveal classified or personal information. In a newly published AI Transparency Statement, AUSTRAC said it is exploring AI to improve productivity and collaboration. The agency is “considering the future adoption of AI…

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NEWS: Shareholder backlash at TD Bank AGM following money laundering scandal

INSIGHT: How the 2025 election ‘supercycle’ creates new compliance risks for banks

 Premium

NEWS: MEPs assess drug trafficking security at Port of Rotterdam and Antwerp

Regulatory Watch News

  • Two Members of a Transnational Money Laundering Organization Sentenced for Laundering Millions of Dollars in Drug Proceeds

    US Department of Justice

    A Georgia man was sentenced today to 78 months in prison for his involvement in a conspiracy to launder millions of dollars in drug proceeds on behalf of foreign drug trafficking organizations, including the Sinaloa cartel and Cartel de Jalisco Nueva Generacion (the Jalisco cartel). On Dec. 4, 2024, his co-conspirator was sentenced to 90 months in prison for his role in the money laundering scheme.

  • Europol has identified AI powered fraud as a key problem area
    AK rifles and grenades seized as firearms trafficking route into France dismantled

    Europol

    An international firearms trafficking network smuggling assault rifles and grenades into Western Europe has been dismantled following a series of coordinated raids in France, Spain and Bosnia and Herzegovina. Seven suspects have been arrested in connection with the gang, which is believed to have sourced high-powered weapons from illegal markets in the Western Balkans and trafficked them into France for onward distribution. The joint operation – supported by Europol and Eurojust – has taken down the full supply chain behind the trafficking route, from source to destination.

  • Germany: Members of criminal organisation convicted for €24 million VAT fraud involving simulated export of cars

    European Public Prosecutor's Office

    (Luxembourg, 11 April 2025) – Three perpetrators of a €24 million VAT fraud involving simulated exports of cars were convicted yesterday by the Hagen District Court in Germany, following an investigation carried out by the European Public Prosecutor’s Office (EPPO) in Cologne. The three, who were accused of being the ringleaders of a criminal organisation dedicated to car sales and systematic evasion of VAT, were sentenced to five years and nine months (reduced by three months, considered as served), three years and nine months and one year and nine months in prison.

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