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LATEST: Billions in fines could pale in face of regulator-imposed restrictions on growth at TD Bank, analysts warn

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NEWS: RBB Bancorp says US regulators terminated Oct 2023 consent order

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ANALYSIS: TD Bank’s dirty laundry – inside the cultural shift that seeded a money laundering crisis, succession woes and a leadership exodus

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NEWS: TD could be facing total bill of $4 billion and north as FCC tardiness haunts bank’s ambitious US expansion

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LATEST: TD Bank books massive $3 billion for AML fines in US federal probes; lender swings to quarter loss

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NEWS: US preferred hub for corrupt financial transactions; Dubai, Hong Kong replace Panama as OCG centres, claims UK university report

NEWS: German authorities seize 13 crypto ATMs and €250,000 cash in AML raids

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NEWS: U.S. and Bonaire share proceeds of shutting down black market for Venezuelan bolivars

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NEWS: Australian gang leader pleads guilty to Colombia cocaine plot after elaborate $2m sting

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INTERVIEW: Jersey’s FIU chief on strategy to secure more money laundering prosecutions; unfair to accuse island of ‘something it isn’t’

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NEWS: EU strikes deal with five Latin American countries to combat international drug gangs

NEWS: Scott Russell appointed new CEO at NICE, maker of anti-fincrime AI

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UK insurer charged with bribery in Ecuador
Serious Fraud Office
April 17, 2025
The Serious Fraud Office (SFO) today accused a UK insurance company of failing to prevent international bribery. Representatives of United Insurance Brokers Limited (UIBL) were ordered to appear before Westminster Magistrates’ Court next month. The company is charged with failing to prevent associates from bribing state officials in Ecuador between October 2013 and March 2016. The SFO alleges UIBL’s US-based intermediaries for Ecuador paid bribes in return for the awarding of re-insurance contracts worth US$38 million. If this case proceeds to a contested trial, it will be the first time that an SFO “failure to prevent bribery” case is heard by a jury.
Industry warning notice: regulatory returns submissions
Gambling Commission
April 17, 2025
Operators are being warned that they face regulatory action if they fail to complete regulatory returns or submit them on time.
The warning follows a spate of fines against operators who have failed to submit a regulatory return in the required timeframes for each type of activity for which they hold a licence. Since October more than ten businesses have been fined up to £750 for not correctly completing and submitting regulatory returns within the required timeframe.
Europol supports strike-down on criminal organisation smuggling tens of thousands of hazardous salvage cars from the US
Europol
April 17, 2025
Europol supported an action led by the European Public Prosecutor’s Office (EPPO) in Berlin (Germany) and Vilnius (Lithuania), which involved around 1 000 police, tax and customs officers carrying out 200 searches in ten countries. The investigation targeted a vast criminal organisation active in smuggling badly damaged cars from the United States (US) into the European Union (EU), and selling them to end customers after superficial repair, while defrauding the payment of customs duties and committing large-scale value-added tax (VAT) fraud.