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The Straits Times: Singapore fine banks US$27M over AML failings exposed by a US$3Bn laundering case, prompting stricter risk and monitoring controls across the sector

by Jyotsna Bucktowar | Jul 5, 2025

The Monetary Authority of Singapore identified significant shortcomings in how banks conducted customer risk assessments, verified sources of wealth, and monitored suspicious transactions, which collectively allowed illicit funds to flow undetected through at least 16...

Byline Times: A UK parliamentary report reveals a £350Bn yearly loss to corruption, tax evasion, and economic crime – fueling urgent demands for tougher enforcement

by Jyotsna Bucktowar | Jul 4, 2025

A recent UK parliamentary report has brought to light the staggering annual loss of £350 billion due to corruption, tax evasion, and economic crime, underscoring a critical drain on the nation’s economy. The report highlights systemic weaknesses, particularly within...

Gambling Insider: Isle of Man GSC fines SK IOM £70K for AML/CFT breaches, including weak MLRO oversight, poor TM, missing AML reports, and insufficient compliance testing

by Jyotsna Bucktowar | Jul 4, 2025

The fine, originally set at £100,000, was reduced by 30% in recognition of the operator’s early cooperation with the investigation and proactive remediation efforts. Key issues included inadequate resourcing and expertise of the MLRO and AML/CTF Compliance Officer,...

Royston Crow: Charity ML alert – a new scam targets small UK charities with the ‘overpayment’ trick

by Jyotsna Bucktowar | Jul 3, 2025

In this scheme, fraudsters pose as donors and make an apparently generous donation—typically around £5,000—only to “accidentally” send a much larger amount. They then contact the charity claiming an error and request the surplus to be returned. In doing so, the...

Euro News: EP challenges the EU Commission’s revised AML blacklist, opposing the removal of jurisdictions like the UAE, Panama, and Gibraltar due to sanctions and regulatory concerns

by Jyotsna Bucktowar | Jul 1, 2025

The ongoing disagreement between the European Parliament and the European Commission over the EU’s updated anti-money laundering (AML) blacklist highlights significant challenges in aligning regulatory approaches with geopolitical and enforcement priorities. While the...
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Recent Posts

  • UK Govt and MAS Singapore pledge joint crackdown on FC, focusing on digital finance risks, AI misuse, cross-border fraud, ESG integrity, tokenisation oversight, and global disclosure alignment
  • INTERPOL’s Crime Trend update reveals scam centres have become global crime hubs, spreading beyond Southeast Asia to 66 countries, driven by human trafficking, crypto fraud, and AI-driven scams
  • FinCEN launches “COMMAND” Exchange series to disrupt illicit financial networks tied to drug and human trafficking, starting in cartel-prone U.S.–Mexico border hubs McAllen and El Paso
  • FATF’s latest VASPs report exposes major gaps in virtual asset compliance, rising stablecoins misuse and weak cross-border supervision, calling for urgent global enforcement and coordinated action
  • Europol’s latest podcast warns that AI is accelerating organised crime via deepfakes, cyberattacks, and disinformation, urging law enforcement to adopt AI-powered tools

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