Category: AML

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NEWS: Danish Gambling authority reprimands national lottery operator for AML breaches

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Binance under investigation in France for money-laundering

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NEWS: AML controls in EU’s payments sector ‘insufficient’ and regulators ‘not doing enough’ to supervise sector – damning EBA report

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No bail for exiled Chinese businessman Guo Wengui

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Brazil’s Americanas accuses former execs, banks and auditors of aiding fraud

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Bahamas court boosts Bankman-Fried’s challenge to post-extradition charges

INSIGHT: Your snapshot into the current outlook for the fincrime market in UK and EU

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NEWS: Dutch central bank finds financial institutions are failing to freeze Russian assets

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PrivatBank owners had ‘absolute power’, $4.2 bln fraud lawsuit told

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NEWS: Cooperation with FIUs not systematic ‘and continued to be largely ineffective in most Member States’ – EBA 2022 Report

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Dutch authorities warn bribery has become a ‘business model’

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NEWS: Test of Kumar’s FATF presidency as Ukraine demands Russia ‘blacklisted,’ as Moscow threatens India if it is placed on watchlist

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Treasury Targets Global Network Shipping Iranian Oil, Funding Iran’s Military and Terrorist Activities
ofac
May 13, 2025
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning nearly two dozen firms operating in multiple jurisdictions in virtually every aspect of Iran’s illicit international oil trade. The Iranian government allocates billions of dollars’ worth of oil annually to its armed forces to supplement their budget allocations, underwriting the development of ballistic missiles and unmanned aerial vehicles, as well as financing regional terrorist groups. Iran’s Armed Forces General Staff (AFGS) and its main commercial affiliate, Sepehr Energy Jahan Nama Pars Company (Sepehr Energy), continue to establish front companies and rely on buyers and facilitators to enable their sanctioned oil trade. Since the start of this administration, Treasury has rapidly moved to implement President Trump’s maximum pressure campaign on Iran and have taken 19 actions, sanctioning 253 individuals, entities, and vessels related to Tehran and its proxies.
FINTRAC imposes an administrative monetary penalty on Marouf Management Inc.
FINTRAC
May 13, 2025
FINTRAC announced today that it has imposed an administrative monetary penalty on Marouf Management Inc., also operating as Marouf Currency Exchange and 1998063 Ontario Inc. Following a compliance examination in 2023, this money services business in Toronto, Ontario, was imposed an administrative monetary penalty of $249,480.50 on November 4, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.
The DFSA brings 18 Authorities together to discuss AI and cybersecurity risks at inaugural Regulatory College during Dubai FinTech Summit 2025
DFSA
May 13, 2025
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), hosted this week its inaugural high-level Regulatory College at the heart of the Dubai FinTech Summit 2025. The closed-door session titled “Innovation with integrity: Advancing Cybersecurity and AI oversight through international dialogue” brought together more than 30 regulators from 18 Authorities from the UAE, the wider GCC region, and international jurisdictions to discuss pressing issues related to cybersecurity and artificial intelligence (AI).