Tag: AML

Regulatory Watch News

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  Transnational Manager for Colombia’s Clan del Golfo Drug Cartel Pleads Guilty to Drug Trafficking Conspiracy

  US Department of Justice

  April 3, 2025

  A Colombian national and lieutenant for Clan del Golfo (CDG) pleaded guilty today to conspiring to distribute large quantities of cocaine destined for the United States.

  According to court documents, Fabian Edilson Torres Caranton, also known as David and Cassius, 53, served as a coordinator, intermediary, and lieutenant for the Bloque Roberto Vargas Gutierrez of CDG — a Colombian paramilitary and multibillion-dollar Transnational Criminal Organization. CDG is one of Colombia’s largest and most powerful drug cartels with its membership in the thousands. CDG’s primary source of income is from cocaine trafficking, which it uses to fund its paramilitary activities.

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  Fraudscape 2025: Reported fraud hits record levels

  CIFAS

  April 3, 2025

    Cifas, the UK’s leading fraud prevention service, has published its annual Fraudscape report today (3 April) which reveals a staggering 421,000 cases were filed to the National Fraud Database (NFD) in 2024 – a 13% increase and the highest number on record. The sharp rise is one of the largest annual increases ever observed by Cifas, underscoring the growing scale and complexity of fraud in the UK. Its members also recorded a case to the NFD every two minutes, preventing over £2.1bn in fraud losses.

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  An administrative penalty of €1,054,269 against Virtual Asset Service Provider (VASP)

  FIAU

  April 3, 2025

    An administrative penalty of €1,054,269 against OKCoin Europe Limited ,and a Follow-Up Directive in terms of Regulation 21 of the Prevention of Money Laundering and Funding of Terrorism Regulations (the PMLFTR)