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US DOJ arrests five fugitives in California wanted by Germany for orchestrating a €300 million credit-card fraud network linked to German payment processors
The DOJ, acting on a German request and assisted by the U.S. Marshals Service, apprehended four U.S. citizens and one Canadian national in the Central District of California, enabling Mexico’s extradition of the fugitives for prosecution. Department of Justice The alleged fraud scheme involved fictitious merchant websites, recurring charges kept below €50 to avoid detection, and the creation of a shadow financial system through collusion with German payment service providers.
US DoJ secures the conviction of a former Corning scientist for economic espionage and trade-secret theft involving military-grade fiber-laser technology intended for use in China
Between 2002 and 2007, Ji Wang worked on an $11.4 million  Defense Advanced Research Projects Agency (DARPA) project to develop high-powered optical-fiber lasers with military applications, and he later stole proprietary manufacturing files with the intent to commercialise the technology in China. The jury found him guilty of two counts of economic espionage, one count of theft of trade secrets, and attempted versions of both charges, underscoring the U.S. government’s focus on prosecuting illicit transfer of critical dual-use technology.
UK Gambling Commission fines NetBet £650K and orders an audit after major AML and social-responsibility failings, including weak risk checks and and inaccurate reporting
Following a licence review covering November 2023 to July 2024, the Commission found that NetBet’s anti-money-laundering risk assessment omitted key risk factors, allowed customers to gamble disproportionately to their income, and failed to identify indicators of harm in a timely manner. The operator also submitted inaccurate regulatory data and as part of the settlement will pay the sum to socially responsible causes and commission an independent audit to enforce improvements…
FINTRAC fines Xeltox Enterprises CAD $176.9M for widespread AML violations, including failure to report suspicious and large virtual-currency transactions linked to high-risk and illicit activities
The Company failed to submit 1,068 suspicious transaction reports and 1,518 large virtual currency transaction reports, neglected to maintain written compliance policies, conduct risk assessments, notify FINTRAC of changes in prescribed information, and comply with a ministerial directive. FINTRAC stated that many unreported transactions were linked to serious criminal activity, including child exploitation…
UK Gambling Commission fines Platinum Gaming £10M for major AML and social-responsibility breaches, citing weak controls and failure to act on high-risk, high-loss players
The Commission’s investigation found that Platinum Gaming’s policies and controls inadequately identified and intervened when players lost thousands within hours or days of registration, repeatedly breached loss limits, and displayed high-velocity gambling behaviour without appropriate customer interaction. Gambling Commission It also uncovered anti-money-laundering weaknesses including a risk assessment that failed to consider customers whose accounts had been blocked previously for money-laundering concerns…
FINTRAC imposes a $601,139.80 penalty on First Nations Bank of Canada for multiple AML compliance failures, including missed suspicious reports, inadequate policies, and poor monitoring
The bank did not report suspicious transactions in 31% of the case files reviewed, where there were reasonable grounds to suspect that transactions were related to ML/TF. It failed to develop and apply written compliance policies and procedures that were kept up to date and approved by a senior officer…
FinCEN issues final rule blocking Cambodia-based Huione Group from the U.S. financial system for facilitating North Korean cyberheist proceeds and Southeast Asian virtual currency scams
The action reflects FinCEN’s determination that Huione Group lacks adequate anti-money laundering controls and has facilitated illicit financial activity linked to cybercrime and North Korean networks. By imposing a Section 311 special measure, the action enhances U.S. AML safeguards, underscores the risks posed by inadequately supervised foreign financial institutions, and reinforces the importance of correspondent banking vigilance…
OFSI to move to a single list for UK sanctions designations from 28 Jan 2026, consolidating previous lists, introducing a new Unique ID and, expanding file formats to streamline compliance
This change aims to simplify sanctions compliance and reduce duplication of effort. Businesses and organizations that rely on the OFSI Consolidated List for sanctions screening must transition to using the UKSL by the specified date. Notably, the UKSL will introduce a new identifier, the ‘Unique ID,’ replacing the ‘OFSI Group ID’ previously used for financial sanctions designations. While the UKSL will continue to support the historic ‘OFSI Group ID’ for pre-28 January 2026 designations, all new designations will only have the ‘Unique ID’ and ‘Sanction…
FINTRAC fines DMCL Chartered Professional Accountants $72,750 for multiple violations of AML regulations, including failing to implement compliance policies, assess risks, and review its program
These violations included failing to develop and apply written compliance policies and procedures, not assessing and documenting the risk of money laundering or terrorist activity financing, and not instituting and documenting the prescribed review of its compliance program every two years. The penalty has been paid in full, and the case is now closed….
FINTRAC fines KuCoin (Seychelles-based Peken Global Ltd) CAD19.5M for failing to register, report large virtual currency transactions, and file SARs under Canada’s AML/CTF laws
The company failed to register with FINTRAC, did not report large virtual currency transactions over CAD 10,000 with required details, and neglected to file suspicious transaction reports despite reasonable grounds to suspect links to money laundering or terrorist financing. FINTRAC highlighted the case as part of its broader compliance efforts…
FINTRAC imposes CAD264,000 fine on Spence Diamonds Ltd. for AML/CTF compliance failures, including missing STRs, policies, risk assessments, staff training, and reviews
The violations include failing to file suspicious transaction reports, lacking updated written compliance policies and procedures, not conducting or documenting a risk assessment, failing to maintain a compliance training program, and not performing required reviews…
HMRC levies a £158,679 fine against DYS44 Art Gallery Ltd for multiple compliance failures, including inadequate risk assessments, lack of staff training, and poor due diligence procedures
Based in London, the gallery was fined for wide-ranging procedural failures, including “[not] carrying out risk assessments, having the correct policies, controls and procedures, appropriate staff training, conducting due diligence, timing verification, and record keeping”…