Tag: AML

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NEWS: Money laundering risks in digital euro must be addressed in a ‘constructive’ way, says EU financial services Commissioner

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NEWS: Swiss regulator warns says laundering risk ‘remains high’; Russia sanctions pose ‘reputational and operational risks’ for institutions

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LATEST: DFSA hits Bank of Singapore with AED 4M (€1.1M) fine for ‘inadequate’ AML controls

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NEWS: Social Media influencer ‘Hushpuppi’ sentenced to over 11 years for conspiring to launder ‘tens of millions of dollars’

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NEWS: Countries who fail to implement crypto AML guidelines could be grey listed under new proposals

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NEWS: FinCEN examines inclusion of investment advisors under AML regulations

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LATEST: Friday evening warning from BaFin that it will fine Deutsche Bank if lender fails to improve long-standing AML issues by 2023 deadline

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NEWS: Australia to face more criticism on AML if ‘gatekeepers’ are not regulated – AUSTRAC CEO

NEWS: AML Intelligence co-founders named in Top 20 Most Influential Professionals in AML

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NEWS: Swiss regulator to expand AML regulations on crypto

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NEWS: British PM postpones face-off with banking regulators

WOMEN IN FINCRIME: AML Intelligence reveals stellar line-up for international November 30 summit

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Memorandum of Understanding between OFAC and the Swiss State Secretariat for Economic Affairs
OFAC
May 16, 2025
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has published its Memorandum of Understanding with Switzerland's State Secretariat for Economic Affairs (SECO).
Crime group used light aircraft to smuggle cocaine haul to UK
National Crime Agency
May 16, 2025
A qualified pilot used his light aircraft in a bid to smuggle cocaine into the UK. Pilot Anastasios Balian, 52, and accomplice Errol McCardo Weir, 48, admitted trying to bring 30kg of the Class A drug into the country, following a National Crime Agency investigation. On 20 March this year, they were stopped by Border Force officers at North Weald airfield in Epping, Essex, after landing from Belgium via Calais. Officers searched the small plane and discovered a concealment had been built into the rear seats. Inside it were 30 1kg blocks of cocaine with a street value of about £2.4m.
£2m fine for online operator Spreadex Limited
Gambling Commission
May 16, 2025
A gambling business will pay a £2,022,000 penalty after a Gambling Commission investigation revealed Anti-Money Laundering (AML) and social responsibility failings.
Spreadex Limited – which operates from Spreadex.com – will also have to undergo a third-party audit to ensure it is effectively implementing its anti-money laundering and safer gambling policies, procedures and controls. The failures were revealed during a compliance assessment in July 2023 and relate to the operator’s Gambling Commission licence to offer casino and fixed odds betting.