Category: Financial Crime

Regulatory Watch News

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  Greentube Alderney Limited to pay £1m for regulatory failures

  Gambling Commission

  January 9, 2025

  Online gambling business Greentube Alderney Limited, trading as Admiral Casino, is to pay £1 million after a Commission investigation revealed social responsibility and anti-money laundering failures.

  The operator, which runs admiralcasino.co.uk, will pay the money to socially responsible causes as part of a settlement with the Commission.

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  Financial sanctions update: Russia

  OFSI

  January 9, 2025

  On 8 January 2025  the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entry has been amended to the Russia financial sanctions regime and is still subject to an asset freeze and trust services sanctions:

  • ZAPCHASTTRADE LLP (Group ID: 16636)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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  FATF President Elisa de Anda addressed participants at today’s FATF Joint Experts Meeting hosted by UNODC

  FATF

  January 9, 2025

  "Almost 80% of countries are at a low or moderate level of effectiveness on asset recovery. This is a stark reality. 80% of countries around the world are not able to achive significant outcomes in confiscating criminal property. This not only allows criminals to benefit monetarily but gives life to their future operations." Elisa de Anda Madrazo FATF President Joint Experts Meeting 8 January 2025