Anti Money Laundering

The British Columbia Lottery Corporation (BCLC) was issued a Notice of Violation by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), with violation of the federal anti-money laundering regime cited. The report concerned the supposed inadequacies of BCLC in notifying the regulators about the suspicious transactions involving one of its casino clients who […]

The UK has been shifting towards integrating digital identity verification into the anti-money laundering (AML) system in 2025, which means a significant regulatory change. Related, subsequent rounds of revision to the Money Laundering Regulations (MLRs), led by HM Treasury and the Office for Digital Identity & Attributes (OfDIA) will make certified digital identities officially acceptable […]

The very recent development of China overhauling the anti-money laundering (AML) regulatory framework will bring a major change towards adoption of a more risk-based approach that is particularly evident in relation to reporting of cash transactions. A major weakening of the draft amendment published by central regulators in 2025 is the relief in the obligation […]

One substantial change in the United Kingdom supervisory framework on anti-money laundering (AML) by HM Revenue & Customs (HMRC) was the increase by 33 in annual premises fee of 300 to 400 in 2025. It is a fee paid by businesses that are regulated and companies like estate agents, accountants, and dealerships of high value […]

The Corporate Transparency Act (CTA) was enacted in 2021as a response to increased awareness of the use of anonymous shell companies in order to carry out unlawful financial transactions. With the CTA, limited liability companies (LLCs) and corporations needed to provide information about their beneficial owners by disclosing the beneficial owners as natural persons having […]

The dynasty is over soon as the first few months of 2025 can be described as a major loss against cryptocurrency fraud as Rowland Marcus Andrade, founder, and CEO of AML Bitcoin is sentenced to 84 months in federal prison after defrauding investors of the popular 10 million crypto scheme. This court case presents the […]

The release of the 2025 Opinion on the risks of money laundering (ML) and terrorist financing (TF) by the European Banking Authority (EBA) is considered a critical point in the development of a new anti-money laundering system in the EU. Publication of the Opinion dated July 28, 2025, addresses vulnerabilities that arise when financial technology […]

On July 22, 2025, Hong Kong Monetary Authority (HKMA) imposed disciplinary sanctions on three financial institutions after conducting an investigation into significant breaches of their anti-money laundering and counter-terrorist financing (AML/CFT) procedures. Indian Overseas Bank, Hong Kong Branch (IOBHK) was given a penalty of HK$8.5 million, which included a public reprimand, which was the highest […]

In 2025, Morgan Stanley, one of the most successful global financial institutions, with a significant operation in the wealth management and investment banking sector, faces a thorough regulatory inquiry over its ease of anti-money laundering (AML) compliance. Financial Industry Regulatory Authority (FINRA), the self-regulatory organization of the US financial system, has launched an investigation into […]

The European Union is entering a fresh period of a fight against money laundering (AML) regulation reform catapulted by years of scandals and holes in enforcement. The EU hopes that with the introduction of the European Anti-Money Laundering Authority (AMLA) in 2025, a harmonized rulebook in operation now, sanctions in coordination and oversight in one […]

In July 2025 the Central Bank of the United Arab Emirates (CBUAE) fined one of the local banks AED 3 million (which is approximately 817,000 US dollars) because of numerous violations of the United Arab Emirates anti-money laundering (AML) and counter-terrorism financing (CFT) laws. This enforcement action is the latest in a string of high-profile […]

The government of New Zealand came out in a forceful crackdown on illegal money with a 5,000 NZD (roughly 3,000 USD) limit imposed on international money transfer in the middle of the year 2025. The limit is included in the overall review of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) system of the […]

In July, 2025 Monetary Authority of Singapore (MAS) levied a total of S27.45 million (US21.5 million) in fines against 9 financial institutions that categorically violated anti-money laundering (AML) regulatory laws. This was the second-largest regulatory fine in the history of the city-state that followed only those associated with the 1MDB scandal.It followed a far-reaching investigation […]

The Greek farmers bribery affair has driven the European Union to the point of discrediting its processes of allocating funds, as well as executing its political and agricultural subsidy systems and mechanisms. With revelations of a conspiracy of systematic fraud, top level political corruption and intricate money laundering, as well as systemic weaknesses in the […]

The European Union is highly affected by money laundering, which disputes the integrity of the economy as well as the confidence of the people. According to the European Commission estimate, illicit financial flows comprise approximately 1 percent of the EU GDP or approximately 140 billion Euros every year. These numbers testify to the bottoms of […]

The Central Bank of the United Arab Emirates (CBUAE) has recently taken a significant regulatory action by revoking the license of Sundus Exchange, a money exchange firm operating in the UAE, and imposing a financial penalty of AED 10 million (approximately USD 2.72 million). This enforcement follows investigations that revealed serious violations of anti-money laundering […]

The recent guilty plea of Charles Uchenna Nwadavid, a Nigerian national accused of laundering $2.5 million in cryptocurrency stolen from U.S. victims, has once again spotlighted the complex intersection of cryptocurrency, international crime, and online fraud. This case, unfolding in Boston federal court, reveals how digital currencies and peer-to-peer platforms have become tools for sophisticated […]

A recent money laundering probe in Spain has uncovered a chilling child trafficking racket that reportedly trafficked at least 30 babies over three years. This case highlights the complex and often hidden connections between financial crimes and human trafficking networks. The investigation not only exposed the trafficking of infants but also revealed the sophisticated financial […]

Republic of Moldova stands at a historic juncture toward combating money laundering (ML) and terrorist financing (TF) in 2025. The latest Council of Europe MONEYVAL report also appreciated the major action Moldova has taken by improving the suggestions made in its Financial Action Task Force (FATF) in areas like customer due diligence, politically exposed persons, […]

The recent ruling by Malaysia High Court, acquitting the former Prime Minister Najib Razak of money laundering charges, which surrounds the scandal of the 1Malaysia Development Berhad (1MDB), revives the discussion concerning the degree to which the country is serious with combating corruption. Although it is not a proper acquittal as one should be found […]

Swiss bank Pictet, one of the world’s oldest and most prestigious private banks, has been fined $2.5 million for failing to adequately prevent money laundering activities. This penalty, imposed by Swiss financial regulators, underscores the growing scrutiny on global financial institutions to uphold stringent anti-money laundering (AML) standards. The case highlights persistent vulnerabilities in compliance […]

In recent years, Myanmar has witnessed a significant rise in online financial fraud, a phenomenon that poses serious risks not only to the country’s financial sector but also to its broader economic stability and security. Recognizing the growing threat, Myanmar has intensified its efforts to combat money laundering activities linked to these fraudulent schemes. This […]

The recent indictment of Iurii Gugnin, founder and CEO of the U.S.-based cryptocurrency payment firms Evita Pay and Evita Investments, marks a significant development in the ongoing global struggle against illicit finance, sanctions evasion, and the misuse of digital assets. Gugnin faces 22 criminal counts, including wire and bank fraud, money laundering, violating U.S. sanctions […]

The recent arrest of Sergio Velazquez, former police chief of Hialeah, Florida, on multiple charges including money laundering, organized fraud, and grand theft, has sent shockwaves through the community and law enforcement circles. This case highlights not only alleged criminal conduct by a high-ranking public official but also raises critical questions about oversight, accountability, and […]