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UK Gambling Commission fines Maple International Ventures Ltd, operator of Lottomart.com, £360,000 for serious AML and social responsibility breaches
The Gambling Commission emphasized that effective implementation of robust policies and procedures is essential for all licensed businesses to ensure safer gambling environments. Operators are encouraged to review the public statement issued by Maple International Ventures to assess the effectiveness of their own compliance measures…
BaFin imposes a €3.8M fine on Varengold Bank AG for major AML/CTF deficiencies, including poor risk analysis, weak IT controls, and CDD lapses, especially on Iran-linked transactions
Additionally, from June 2023 to March 2025, the bank systematically failed to report suspicious transactions within the required timeframe. BaFin has mandated Varengold to implement corrective measures and submit regular progress reports. The enforcement actions are final and binding as of September 2, 2025…
EPPO secures a conviction in Croatia over rigged software procurement that defrauded EU and national funds of €272,000
The European Public Prosecutor’s Office (EPPO) secures a conviction in the Croatia case concerning an unlawful software procurement by the Ministry for Regional Development and EU Funds. The verdict, following a plea bargain, finds the owner of a business guilty of manipulating tender procedures to benefit connected firms and causing €272,000 in losses to EU and Croatian finances.
FINTRAC imposes a $1,175,000 administrative monetary penalty on the Saskatchewan Indian Gaming Authority (SIGA) for multiple AML compliance failures
The violations include: Failure to submit four suspicious transaction reports with reasonable grounds to suspect money laundering or terrorist financing; Leaving required details out of three suspicious transaction reports; Failure to maintain up-to-date compliance policies and risk assessments…
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…