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This section includes initiatives by the FCA, ICO, Gambling Commission, SEC, US DoT among others.
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AUSTRAC Intelligence uncovers a gold laundering scheme by a police officer who sold over $1.3M worth of family gold bars to fund a gambling addiction
AUSTRAC intelligence helps crack a gold laundering operation linked to gambling, uncovering that a NSW police officer sold over AUD 1.3 million in family gold bars to fund a gambling addiction—prompting a probe by the Law Enforcement Conduct Commission. AUSTRAC CEO Brendan Thomas highlights that gambling harm can drive individuals to crime, including money laundering, especially within the bullion sector…
FINTRAC fines Canadian National Exhibition Casino $199,000 for failing to meet ML/TF compliance obligations
FINTRAC has imposed a $199,000 administrative monetary penalty on the Canadian National Exhibition Association (CNE Casino) for non-compliance with Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The violations included failure to assess and document the risk of money laundering or terrorist financing, and failure to implement and document a prescribed review….
Luxembourg’s CSSF fines Alipay (Europe) SA €214,000 for AML/CTF breaches, including lapses in suspicious transaction reporting and customer identity verification
Inspectors highlighted shortcomings in transaction monitoring, delayed processing of alerts, missing customer identification documents and insufficient oversight of outsourced compliance functions. Alipay had failed to file suspicious transaction reports in six cases linked to counterfeit goods, the CSSF said, three of which “were closed without notification to the Financial Intelligence Unit, in breach of the…
AUSTRAC fines Revolut Payments $187,800 over late reporting of international funds transfers in breach of AML rules
The financial intelligence agency emphasized that timely reporting is critical for disrupting financial crime. AUSTRAC CEO Brendan Thomas stated that failures to report must have regulatory consequences, even if the reporting entity self-discloses and cooperates…
Swiss OAG fines Bank J. Safra Sarasin CHF 3.5M for failing to prevent around $71M in aggravated ML linked to the Petrobras Lava Jato corruption case between 2011 and 2014
The Swiss private bank was fined CHF 3.5m (~€3.64m) after its accounts channeled $71m in bribes to Petrobras executives between 2011–2014, of which $28.5m was stopped by other banks. The fallout includes a CHF 16m settlement with Petrobras and a former banker sentenced to six months…
FINTRAC fines British Columbia Lottery Corporation $1.075M for AML/CTF breaches, including failing to report suspicious transactions and implement adequate policies for high-risk clients
British Columbia Lottery Corporation was found to have committed the following administrative violations: Failure to report suspicious transactions; Failure to develop and apply policies and procedures for high-risk clients; Failure to take special measures for high-risk clients…
Dutch Central Bank (DNB) fines Neobank Bunq €2.6M for serious deficiencies in its AML controls during the period under review, from Jan 2021 to May 2022
The penalty followed multiple warnings over several years and was based on four cases between January 2021 and May 2022, where Bunq failed to adequately investigate suspicious transactions or maintain proper customer monitoring. Despite previous interventions, Bunq did not implement lasting improvements, prompting DNB to impose the fine…
FCA fines Sigma Broking Ltd £1,087,300 for systemic transaction reporting failures, after submitting over 924K incomplete or inaccurate MiFIR reports over nearly 5 years
Despite FCA warnings in May 2023, Sigma’s inadequate systems and controls remained unaddressed until an internal review in early 2024 revealed the full scale of errors. This is Sigma’s second enforcement action for similar breaches, following a £531,600 fine and director bans in 2022. The FCA stressed that accurate transaction reporting is critical to detecting market abuse…
US DOJ charges five senior United Cartels leaders, a designated Foreign Terrorist Organisation, for trafficking drugs to fund violence and corruption
The indictment names Juan José Farías Álvarez (“El Abuelo”), Alfonso Fernández Magallón (“Poncho”), Luis Enrique Barragán Chávez (“Wicho/R5”), Edgar Orozco Cabadas (“El Kamoni”), and Nicolás Sierra Santana (“El Gordo”) as masterminds behind multi-ton drug conspiracies funneling illicit proceeds to arm mercenaries, bribe officials, and sustain cartel dominance across Michoacán and major U.S. distribution hubs.
US DoJ seizes $2.8M+ in cryptocurrency, $70K in cash, and a luxury vehicle from a prominent ransomware operator involved in global cyber extortion
The seized assets belonged to a cryptocurrency wallet linked to Ianis Aleksandrovich Antropenko, who is indicted for deploying Zeppelin ransomware and laundering illicit proceeds through the now-defunct mixing service ChipMixer, alongside structured cash transactions Department of Justice. These actions underscore the DOJ’s strategic focus on dismantling the financial channels of cybercriminals, leveraging advanced asset-tracing tools to recover proceeds of ransomware, disrupt laundering networks, and support victim restitution efforts…
OFSI fines Markom Management Ltd £300K for breaching Russia-related sanctions by authorising a prohibited £416,590 payment to a designated person under asset freeze restrictions
The breach, linked to inadequate compliance controls, highlights OFSI’s stricter enforcement stance—even on mid-sized firms and single transactions—amid growing regulatory pressure to uphold the UK’s Russia sanctions regime. This case reinforces the message that businesses of all sizes must strengthen sanctions governance, implement robust internal checks, and act cautiously…
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.