The Latest FinCrime News about Crackdowns
New Fines Drive Change as UAE Central Bank Targets Foreign Banks AML Failures
UAE Central Bank fines highlight stricter AML enforcement, signaling tougher compliance expectations for foreign banks operating in the region.
Canadian Crystal Currency Exchange Hit With FINTRAC Penalty
FINTRAC penalty highlights critical gaps in AML compliance among Canadian money services businesses and the urgent need for robust regulatory programs.
Jail Sentence for Tim Leissner in Goldman Sachs 1MDB Case
Tim Leissner, a former Goldman Sachs executive, received a two-year jail sentence for his central role in the 1MDB scandal. The case marks a historic moment for the bank and highlights global efforts to hold financial leaders accountable for money laundering and compliance failures.
BPMB and HSBC hit with regulatory penalties for AML lapses in Malaysia
Fines against BPMB and HSBC Malaysia highlight significant weaknesses in AML compliance frameworks, as Bank Negara Malaysia identified failures in customer due diligence, sanctions screening, and beneficial ownership checks, underscoring the risks of regulatory penalties.
How Money Laundering and Fraud Unravelled a Canada Drug Network
Money laundering and fraud investigation in Regina exposes how criminal enterprises use businesses to disguise illicit funds, highlighting FINTRAC’s vital role.
Money Laundering as the Heart of the Robbinhood Ransomware Operation
Money laundering fueled the Robbinhood ransomware’s success, leveraging cryptocurrency mixing and chain-hopping to conceal illicit gains.
How Spain’s UDEF Builds Strong Cases Again Money Laundering Networks Linked to Drug Trafficking
Money laundering networks linked to drug trafficking face relentless pursuit from Spain’s UDEF, which uses advanced tactics to trace and seize criminal assets.
Former Credit Suisse VP and 2 MDs Banned for Life From Working in any UK Regulated Financial Service Activity
FCA ban on Detelina Subeva, Andrew Pearse, and Surjan Singh highlights failures in Credit Suisse AML and offers global lessons for financial crime compliance.
Edmond de Rothschild Europe Slammed with €25 Million Money Laundering Fine
Landmark €25 million fine for money laundering at Edmond de Rothschild Europe highlights Luxembourg’s commitment to stronger compliance.
UAE’s Landmark USD 54M AML Enforcement Delivers Unmistakable Regulatory Impact
Record AED 200 million penalty highlights UAE anti-money laundering enforcement and advances a cutting-edge AML/CFT framework.
Spain Dismantles $21M Sino-Syrian Money Laundering Operation Linked to Migrant Trafficking
A large-scale money laundering network linked to migrant trafficking is dismantled in Spain, marking a significant law enforcement victory.
Jaw-Dropping Wynn $5.5M AML Fine Sends Shockwaves Through Vegas
Wynn Las Vegas absorbed a $5.5 million AML fine amid a trio of Strip penalties, spotlighting evolving compliance pressures under the Nevada Gaming Control Board.
UKGC Delivers Strong Warning With Spreadex £2m AML Penalty
Spreadex faces a £2,022,000 AML penalty and mandatory audit after systemic AML and social responsibility failures exposed by the Gambling Commission (UKGC).
Massive Europol €4.5 Million Money Laundering as a Service Bust Sparks Concerns
Criminal networks are hiring turnkey money laundering as a service solutions to hide illicit proceeds, underscoring urgent regulatory and enforcement challenges.
Julius Baer Hit With $5 Million Fine in Damaging Money Laundering Case
Julius Baer faces renewed scrutiny as a fresh money laundering scandal results in a significant $5 million penalty and regulatory challenges.
23 Convicted in €2.9B VAT Fraud as Part of EPPO’s Operation Admiral
Portugal’s first convictions in the Admiral investigation recovered €80 million and set a precedent against massive cross-border VAT fraud.
