When traditional banks say no during onboarding or exit, alternative financial pathways become the primary destination for illicit wealth, moving high-risk clients activity into the shadows.

The Australian Transaction Reports and Analysis Centre has implemented a series of expanded safeguards to combat the movement of illicit funds through virtual assets.

AUSTRAC has ordered MHITS Limited to appoint an external auditor following a crackdown on the payment sector. The MHITS Limited AML Compliance Review will focus on transaction monitoring failures.

Debate grows around a UN money laundering legalization proposal that suggests taxing illicit flows to improve transparency and economic visibility while raising major compliance and legal concerns.

The regulatory framework for Virtual Asset Governance in Dubai is now in effect, mandating strict board independence and exchange resilience to ensure market transparency.