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EPPO seizes ten bank accounts across the Dominican Republic and Peru and secured judicial cooperation from Uruguay in a probe into a €25 million VAT carousel fraud spanning the EU and Latin America
The European Public Prosecutor’s Office in Madrid, through mutual legal assistance, froze six bank accounts in the Dominican Republic and four in Peru, and obtained information from Uruguay, as part of an expansive investigation into a €25 million VAT fraud ring exploiting intra-EU trade exemptions via a network of shell companies spanning Spain, other EU Member States, and Latin America. This operation underscores EPPO’s capacity to disrupt cross-border tax evasion and money laundering schemes by coordinating asset seizures and intelligence-sharing with non-EU jurisdictions.
AUSTRAC sues Mounties for serious AML failures, including poor risk controls and monitoring of $140m in high-risk pokies transactions
AUSTRAC alleges Mounties lacked foundational AML/CTF safeguards, including an adequate risk assessment and tailored staff training. It also states the club outsourced much of its compliance program to a third party (Betsafe) without sufficient oversight—creating a compliance “set and forget” gap.
US DoJ convicts fraudsters behind a $13M crypto Ponzi scam that duped investors with fake AI trading and a bogus regulator – spotlighting growing digital‑asset fraud threats
Vincent Anthony Mazzotta Jr., also known by aliases such as “Vincent Midnight” and “Director Vinchenzo,” admitted guilt on 28 July 2025 to laundering proceeds from a $13 million Ponzi scheme that used fake crypto trading platforms to lure investors. He also pleaded guilty to conspiracy to obstruct justice by destroying evidence and misleading investigators as part of efforts to conceal the fraudulent operation…
FCA fines Barclays £42M for serious financial crime lapses, including poor due diligence on Stunt & Co and unauthorised client funds at WealthTek, enabling fraud and ML
The majority of the penalty, £39.3 million, pertains to Barclays’ relationship with Stunt & Co, a gold bullion firm linked to Fowler Oldfield, a company involved in a major money laundering operation. Despite receiving £46.8 million from Fowler Oldfield, Barclays failed to conduct adequate due diligence or ongoing monitoring, even after law enforcement alerts and police raids on both firms…
NCA and key UK partners strike off 11,500+ fraudulent companies from the Companies House register in a major crackdown on fraud and ML, through disqualifications, agent closures and criminal referrals
The operation uncovered widespread abuse of company formation services, including thousands of firms registered at single addresses and links to organised crime. Actions included disqualifying individuals, shutting down high‑risk formation agents, and issuing criminal referrals. The initiative supports broader Companies House reforms aimed at strengthening identity verification and giving the Registrar new powers…
U.S DoJ announces guilty plea of a California man for orchestrating a $16M Medicare hospice fraud and ML scheme, using fake companies and stolen identities to bill for unnecessary services
Between 2019 and 2023, Esparza and co-conspirators used false documents and foreign nationals’ identities to open accounts and launder over $4.6 million in illicit proceeds, including $90,000 to buy a car. Several co-defendants have also pleaded guilty, receiving prison terms of up to 12 years and possible deportation….
CBUAE fines UAE bank AED 3M for AML/CFT failings uncovered during an examination that exposed critical compliance gaps and internal control breaches
The penalty forms part of CBUAE’s broader enforcement strategy, which includes recent fines against exchange houses and foreign bank branches, and reflects its ongoing efforts to strengthen transparency and accountability in the UAE’s banking system…
NYDFS with five other state regulators, secure a $4.2M settlement from Wise US for significant AML/CFT control failures
The coordinated enforcement highlights the commitment of state regulators to uphold stringent standards for money transmitters, ensuring consumer protection and the integrity of the financial system. This action reflects growing regulatory scrutiny on AML compliance in the money transmission sector and reinforces collaboration across states to safeguard the U.S. financial industry…
FCA fines Monzo £21.1M for systemic failures in AFC controls, exposing weaknesses in onboarding, risk assessment, and TM, onboarding 34,000+ high-risk customers without proper checks
Notably, some customers registered with implausible addresses like Buckingham Palace and 10 Downing Street. Although Monzo has since overhauled its anti-financial crime systems, the hefty fine underlines the FCA’s intensified scrutiny of banks’ compliance frameworks amid rising financial crime risks…
MAS imposes S$27.45M in penalties on 9 FIs for breaches linked to a major 2023 ML case involving over S$3Bn in illicit assets – marking its 2nd-largest AML/CFT enforcement action after the 1MDB case
MAS penalised 6 banks—Credit Suisse (S$5.8 million), UOB, UBS, UOB Kay Hian, Citibank, and LGT Bank—along with asset and trust firms Julius Baer, Blue Ocean Invest, and Trident Trust. Investigations began in early 2023 and concluded in early 2025, uncovering weaknesses in customer risk assessments, source‑of‑wealth checks…
FCA prosecutes 2 individuals for orchestrating a £1.5M cryptocurrency investment fraud that deceived 65+ victims through fake firms CCX Capital and Astaria Group LLP
Operating between 2017 and 2019, the duo lured victims via cold calls and fraudulent websites, claiming to offer legitimate crypto investments. Bedi was sentenced to 5 years and 4 months, while Mavanga received 6 years and 6 months, including time for tampering with evidence. The FCA hailed the convictions as a strong deterrent to financial criminals and confirmed that confiscation proceedings are ongoing to recover the stolen funds…
FCA convicts two individuals for insider dealing and laundering nearly £1M in illicit gains, exploiting confidential market data and moving the proceeds through international transfers
Redinel Korfuzi was sentenced to 4 years and 6 months in prison for insider dealing and money laundering after misusing confidential information obtained through his role at an investment bank to generate nearly £1.5 million in illicit profits. His sister, Oerta Korfuzi, received a suspended 2-year sentence for her role in laundering the proceeds, with the FCA highlighting the case as a clear demonstration of its commitment to tackling market abuse…