Category: Regulatory

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UK Gambling Commission AML concerns

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NEWS: UK Gambling Commission conducted just 8 on-site AML inspections last year

NEWS Eurogroup President Paschal Donohoe to deliver Address at ‘European Anti-Financial Crime Summit 2025’ in Dublin, May 7

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NEWS: UK’s Payment Systems Regulator to be abolished

BREAKING: FCA drops ‘name and shame’ policy amid backlash

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NEWS: Dutch Chief Public Prosecutor – the belief that SARs are ineffective is not true

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NEWS: Dentons retrial ordered as SRA wins AML case appeal

AML Bitcoin CEO convicted of $2M fraud and money laundering scheme

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NEWS: US banks can hold crypto, OCC confirms

NEWS: C-suite in AML and compliance is still a man’s world – Xolisile Khanyile

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LATEST: Path cleared for five executives to be formally ratified by AMLA board as three who did not make MEPs’ shortlist drop out of race

NEWS: Private Sector Collaborative Forum to focus on financial inclusion, FATF chief Violaine Clerc tells ‘Women in FinCrime Summit 2025’

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NEWS: FCC professionals ‘must do the next right thing’ as US regulatory rowback ‘is temporary’, fincrime expert tells WiFC Summit

NEWS: Lynx Tech unveils AI-powered AML screening solution

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FinCEN Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern, Proposes a Rule to Combat Cyber Scams and Heists
FinCEN
May 2, 2025
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a finding and notice of proposed rulemaking (NPRM) pursuant to Section 311 of the USA PATRIOT Act that identifies Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposes to sever its access to the U.S. financial system. Huione Group serves as a critical node for laundering proceeds of cyber heists carried out by the Democratic People’s Republic of Korea (DPRK), and for transnational criminal organizations (TCOs) in Southeast Asia perpetrating convertible virtual currency (CVC) investment scams, commonly known as “pig butchering” scams, as well as other types of CVC-related scams. Given the money laundering risk posed by Huione Group, FinCEN is proposing to prohibit U.S. financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of Huione Group.
FCA seeks feedback on regulation of cryptoasset trading platforms in next phase of road to regulation
Financial Conduct Authority
May 2, 2025

The FCA is seeking views on the future regulation of specific cryptoasset activities, ahead of legislation to bring them within regulation.

Clear crypto regulation will boost confidence in the sector, supporting growth. In this latest discussion paper (DP), the FCA is seeking views on intermediaries, staking, lending and borrowing, and decentralised finance. With more people using credit to purchase crypto, the DP also considers whether restrictions should be applied in that area.
Website Alert – Fraudulent website related to Bank Julius Baer & Co. Ltd.
HKMA
May 2, 2025
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank Julius Baer & Co. Ltd. relating to a fraudulent website, which has been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.