U.S. Treasury announces largest settlements in history with world’s largest virtual currency exchange Binance for violations of U.S. AML and Sanctions Laws. FinCEN’s settlement agreement assesses a civil money penalty of $3.4 billion, imposes a five-year monitorship, and for Binance exit from the U.S.

FATF issues report on illicit financial flows drawing from cyber-fraud – the research shows funds are being laundered faster than ever across multiple jurisdictions and sectors, leaving a trail of victims. It also analyses how the cyber fraud landscape…

SEC announces Enforcement Results for Fiscal Year 2023 – It filed 784 total enforcement actions in fiscal year 2023, a 3% increase over fiscal year 2022, including 501 original, or “stand-alone,” enforcement actions, an 8 percent increase over the fiscal…

SFO secures conviction of solicitor for tipping off client about money laundering investigation. The latter disclosed confidential details about an investigation and forged a legal document in an attempt to mislead investigators. Solicitors are…

Basel AML Index reveals that the average global ML/TF risk level increased from 5.25 in 2022 to 5.31 in 2023, where 10 is the maximum risk. It draws on 18 indicators in five domains measuring different factors that contribute to high ML/TF risks…

FinCEN issues new rule on Beneficial Ownership information reporting deadline extension for reporting companies created or registered in 2024. This proposed amendment would extend that filing deadline from 30 days to 90 days for entities…