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Fines & Enforcements

This section includes initiatives by the FCA, ICO, Gambling Commission, SEC, US DoT among others.

Financial Conduct Authority (FCA)
Information Commissioner’s Office (ICO)
Gambling Commission
U.S Department of the Treasury – Penalties and Enforcement Information
U.S. Securities and Exchange Commission (SEC)

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U.S. DOJ charges four alleged members of a Bronx criminal enterprise over a $12M Medicaid fraud and money laundering scheme

August 20, 2026

Prosecutors allege that the “War Room” fabricated transport records for Medicaid patients travelling to methadone clinics, including by using GPS-spoofing technology to create false pickup and drop-off data. Patients were allegedly paid kickbacks in cash and drugs for use of their information, while collusive transportation companies submitted fraudulent reimbursement claims; the defendants are also accused of laundering the resulting proceeds. Three participating transportation companies alone submitted more than $12 million in unmatched Medicaid claims.

FCA fines and bans former SVS Securities CEO over governance and conflict-of-interest failures, weak due diligence and commission-driven practices that exposed pension customers to significant risks

August 19, 2026

The FCA fined Demetrios Hadjigeorgiou £56,400 and prohibited him from holding senior management positions after finding that he failed to exercise adequate care and diligence while running SVS Securities. The firm invested client funds, including pension savings, in high-risk products while receiving significant issuer payments, and customers selling certain bonds suffered a 10% reduction in value that generated £359,800 for SVS without being…

U.S. DOJ sentences a Mexican national for a multimillion-dollar trade-based ML scheme that moved drug proceeds from the US to Mexico through the black-market peso exchange system

August 19, 2026

Gabriel Arturo Castillo was sentenced to 48 months after participating in a black-market peso exchange that converted US drug proceeds into value for Mexican cartels without physically transporting the money across the border. The scheme used drug cash to fund purchases of US goods, including perfume, which were exported to Mexico; Mexican businesses then paid equivalent peso amounts to the drug-trafficking organisations…

U.S. DOJ sentences Chinese national to 15 years and orders $25M forfeiture for role in ML organisation that moved more than $92M in illicit funds, including drug proceeds linked to Mexican cartels

August 18, 2026

Prosecutors said the defendant participated in a Chinese money-laundering organisation that handled more than $92 million in illicit proceeds, including funds generated through drug trafficking into the United States. The court also ordered $25 million in forfeiture, underlining the scale of the network and the financial penalties attached to the conviction…

Swiss court fines Lombard Odier CHF3M over AML control failures linked to Uzbekistan corruption case, underscoring the need for stronger PEP due diligence and risk controls

July 28, 2026

The court found deficiencies in the bank’s AML controls, while a former employee was convicted of aggravated money laundering and received a suspended 24-month prison sentence. The court also ordered the confiscation of more than CHF400 million in assets linked to the case. It highlights continued regulatory expectations for private banks to maintain robust client risk assessments, source of wealth/source…

A U.S. court sentenced a Ukrainian-Israeli national to 4 years’ imprisonment for orchestrating a US$3M fake brokerage scheme that defrauded investors and laundered illicit funds

July 28, 2026

Yaroslav Shilkloper and his co-conspirators provided victims with a digital platform displaying fabricated investment performance while diverting their money through accounts in Ukraine, Georgia, Hungary, Israel, the Czech Republic and elsewhere. He was also ordered to pay a $250,000 fine and $1.43 million in restitution, while separate forfeiture proceedings in Georgia have already returned $2.8 million to victims…

US Department of Justice secures guilty plea from sanctioned cartel associate who arranged more than $500,000 in tuition payments through a Florida school despite being barred from the US financial system

July 28, 2026

Wendy Dalaithy Amaral Arevalo, the former wife and current partner of a Los Cuinis cartel leader, admitted entering contracts with IMG Academy and arranging payments for her child’s attendance after OFAC designated her in 2015. The prosecution follows OFAC’s February 2026 settlement with the school and demonstrates how apparently routine educational payments can expose legitimate institutions to sanctions risks.

Gambling Commission orders Evolution Malta Holding Limited to pay a £4.75M regulatory settlement over failures in AML controls, risk assessments and third-party oversight

July 23, 2026
The investigation found that Evolution’s games were made available through unlicensed operators accessible to Great Britain consumers, highlighting weaknesses in its ability to identify and manage risks across its wider business ecosystem. The enforcement action reinforces the importance of robust AML governance, effective customer due diligence and stronger oversight of third-party relationships to prevent…

EPPO secures ten convictions in a €100 million cross-border VAT fraud scheme involving plastics trading and networks of companies used to conceal taxable transactions

July 22, 2026

The convictions were obtained by EPPO’s Turin office in proceedings before the Tribunal of Nola and form part of the prosecutor’s continuing action against complex missing-trader and carousel fraud. The case illustrates how apparently legitimate commodity trading and corporate structures can be used to move transactions across borders, obscure responsibility and cause substantial losses to national and EU revenues.

U.S. DOJ charges 2 Chinese nationals for allegedly laundering $43M in cyber investment fraud proceeds through a network of shell companies and overseas accounts

July 22, 2026

Between 2020 and 2022, the pair allegedly coordinated a network of over a dozen people who opened 140 bank accounts under approximately 45 shell companies to disguise and transfer illicit funds, including moving proceeds to accounts in China. The alleged scams involved criminals using social media and messaging platforms to build trust with victims…

DNB fines CCV €406,125 for lacking a systematic integrity risk assessment, highlighting the importance of robust risk identification, governance and AML/CFT controls for payment institutions

July 21, 2026

De Nederlandsche Bank disclosed the enforcement decision after the completion of objection and appellate proceedings concerning CCV Group’s systematic integrity risk analysis. Although the original penalty dates from 2020, the case illustrates the regulator’s expectation that firms use risk assessments as active tools for identifying and controlling financial-crime exposure rather than treating them as static compliance documents…

US DoJ charges two alleged members of a Chinese money-laundering network with using 140 bank accounts and around 45 shell companies to move at least $43 million in cyber-investment fraud proceeds abroad

July 16, 2026

The defendants allegedly managed a New York-based network of more than a dozen people who opened accounts in the names of shell companies before transferring victims’ funds to China-based associates. The underlying scams began through social media and messaging services, where fraudsters cultivated relationships, displayed fabricated investment returns and encouraged victims to send progressively larger payments.

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