EBA’s ACTING AML CHIEF INTERVIEWED: How cryptos are still poorly understood across EU; why risk-based approach is difficult to get right; where tech helps – and doesn’t; the rollout of 300 ‘AML Colleges’; and the future of anti-financial crime in Europe

Regulatory Watch News

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  Treasury Proposes Rule to Implement the GENIUS Act’s Requirements to Counter Illicit Finance

  FinCEN

  April 8, 2026

  Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control issued a joint proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposed rule, which implements the GENIUS Act’s anti-money laundering and sanctions compliance program requirements, encourages innovation in payment stablecoins while providing an appropriately tailored regime to mitigate potential illicit finance risks. The proposed rule would subject permitted payment stablecoin issuers (PPSIs) to requirements applicable to financial institutions relating to prevention of money laundering and impose obligations specified in the GENIUS Act. Consistent with FinCEN’s efforts to modernize Bank Secrecy Act requirements, the proposed obligations are designed to be fit for purpose, assist law enforcement, and minimize unnecessary burden. The proposed rule would require PPSIs to adopt and maintain an effective sanctions compliance program as required by the GENIUS Act.

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  Republic of Moldova: New GRECO report evaluates progress in anti-corruption measures for the central government and law enforcement

  GRECO

  April 8, 2026

  GRECO has today made public its Fifth Round Compliance Report on the Republic of Moldova, setting out an assessment of the progress made by the country in implementing GRECO’s recommendations to prevent corruption and promote integrity in central government (top executive functions) and law enforcement agencies. The report was adopted by GRECO at its 102nd Plenary Meeting, held in Strasbourg from 23 to 27 March 2026.

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  Former police officer admits involvement in fraudulent ‘crash for cash’ scam

  The Crown Prosecution Service

  April 8, 2026

  An ex-police officer who fled the UK before being extradited has pleaded guilty to his part in a scam where fraudulent personal injury claims were made after deliberate vehicle crashes.

  While working as a Met Police officer, Kuldip Singh, 42, was part of a group which organised pre-arranged collisions with vehicles and then made fraudulent claims for compensation from insurance companies.

  The ‘crash for cash’ scam saw the group receive thousands of pounds in personal injury and vehicle damage compensation.