The Latest FinCrime News about Crackdowns
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EFG Bank Facing Luxembourg AML Probe Over Money Laundering Failures
Luxembourg authorities raided EFG Bank to investigate Anti Money Laundering Compliance Failures and potential violations of the 2004 financial law.
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FinCEN Proposes Section 311 Special Measures Against MBaer Merchant Bank
The FinCEN moves to ban MBaer Merchant Bank AG from the dollar system due to MBaer Merchant Bank AG AML Risks and 100 million dollars in illicit Russian and Iranian flows.
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Italy Dismantles Romance Scam-Related Money Laundering Network
The Guardia di Finanza in Italy dismantled a network involved in Transnational Money Laundering Operations in Europe after identifying a 900,000€ romance and investment scams.
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Authorities Dismantle Cocaine Network Linked To The Camorra After Seizing 5 Million Euro Assets
European uthorities dismantle a massive Money Laundering Network linked to Camorra cocaine trafficking, seizing over 5 million euros in assets and luxury real estate.
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Italian Guardia di Finanza Dismantles €5 Billion Chinese Money Laundering-as-a-Service Network
The Ancona Guardia di Finanza dismantled a 5 billion euro money laundering investigation involving 433 shell companies, leading to 1 billion euros in seizure orders and the exposure of a sophisticated international underground bank.
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OFSI Details Systemic Failures in January’s Bank of Scotland 160k£ Penalty
The Bank of Scotland faced a 160,000 pound fine for Russia sanctions breaches. OFSI highlights how failures in Sanctions Screening allowed a designated individual to bypass controls.
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Austrian FMA Bans KuCoin EU From New Business for Compliance Failures
The Austrian FMA has banned KuCoin EU Exchange GmbH from new business due to a lack of suitable officers for the prevention of money laundering.
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Swedbank Faces New Investigation Into Anti-Money Laundering Compliance
Finansinspektionen investigates Swedbank regarding its customer due diligence and anti-money laundering compliance measures from 2023 to 2025 to prevent financial crime.
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ECB Slaps JP Morgan SE with 12 Million Euro Fine for Risk Lapses
The European Central Bank fined J.P. Morgan SE 12.18 million Euros for failing to meet Regulatory Compliance standards regarding risk weighted assets and capital reporting between 2019 and 2024.
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Conviction of US Coal Executive for Money Laundering in $140M Bribery Scheme
Former Corsa Coal executive Charles Hunter Hobson faces up to twenty years in prison following an international bribery and money laundering conviction involving nearly 140 million dollars in corrupt contracts.
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Bank of Ireland UK Fined £3.8M For Missing Confirmation of Payee Deadline
Bank of Ireland UK faces a 3.7 million GBP fine from the PSR for failing to implement Confirmation of Payee on time, exposing 6.9 billion GBP in payments to fraud risks and anti-money laundering vulnerabilities.
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Swedish Regulator Fines SBB 80 Million SEK for Reporting Violations
Swedish regulator Finansinspektionen fines SBB 80 million SEK for Corporate Transparency failures and inflated 2021 profits totaling 3.6 billion SEK.
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FINTRAC Imposes CAD 107k Penalty on Manor Windsor Realty Ltd
FINTRAC has imposed a $107,250 administrative penalty on Manor Windsor Realty Ltd for failures in its Real Estate Compliance Obligations and AML program.
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Louis Vuitton Fined 500,000 Euros for Dutch AML Compliance Failures
Louis Vuitton has been fined 500,000 euros by Dutch prosecutors for failing to prevent a 2 million euro money laundering scheme. The case involved the illicit Daigou trade and significant violations of the Dutch AML Act.
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FINTRAC Fines Century 21 Heritage Group CAD 150k for AML Failures
FINTRAC imposed a CAD 150k penalty on Century 21 Heritage Group Ltd. for failing to file a suspicious transaction report, highlighting critical gaps in real estate anti-money laundering compliance across Ontario.
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Smugglers Face Federal Indictment for Vermont Money Laundering and Human Trafficking
Federal prosecutors unsealed an indictment against two smugglers for a human trafficking and money laundering operation that used the Vermont border to funnel illicit proceeds.
Other News About Crackdowns
EFG Bank Facing Luxembourg AML Probe Over Money Laundering Failures
Luxembourg authorities raided EFG Bank to investigate Anti Money Laundering Compliance Failures and potential violations of the 2004 financial law.
FinCEN Proposes Section 311 Special Measures Against MBaer Merchant Bank
The FinCEN moves to ban MBaer Merchant Bank AG from the dollar system due to MBaer Merchant Bank AG AML Risks and 100 million dollars in illicit Russian and Iranian flows.
Italy Dismantles Romance Scam-Related Money Laundering Network
The Guardia di Finanza in Italy dismantled a network involved in Transnational Money Laundering Operations in Europe after identifying a 900,000€ romance and investment scams.