Anti-Financial Crime & Financial Crime Compliance
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Asia-Pacific, Compliance, Crypto

India’s financial watchdog probes Binance over potential laundering through betting app

Premium August 3, 2021
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NEWS: Prosecutors in Germany investigate three bankers over financing of brothel

NEWS: LATEST: FATF, AMLA and FCA among top voices in AFC confirmed for IAFCS2026 

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NEWS: French FIU Tracfin seeks new intelligence chief

By Kavya Kothiyal for AMLi

One of the world’s largest crypto exchange platforms has come under fire from India’s financial watchdog in relation to potential breaches of anti-money laundering rules.

Binance Holdings Ltd. Is now under investigation by the country’s Enforcement Directorate for its connection to betting apps run by Chinese operators.

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NEWS: Prosecutors in Germany investigate three bankers over financing of brothel

NEWS: LATEST: FATF, AMLA and FCA among top voices in AFC confirmed for IAFCS2026 

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NEWS: French FIU Tracfin seeks new intelligence chief

Regulatory Watch News

  • Wise Europe SA: Bafin sets fine

    BaFin

    The German financial regulator BaFin has imposed fines totaling €16,000 on Wise Europe SA. This is due to the company's failure to submit reports to BaFin's account comparison platform and its breaches of disclosure obligations. The Brussels-based institution had neglected for an extended period to report its account model, offered to consumers in Germany, to BaFin's account comparison platform.

  • FCA bans trio behind £35.5m scheme designed to bypass visa rules

    Financial Conduct Authority

    The FCA has decided to ban 3 former senior figures at Dolfin Financial (UK) Limited (Dolfin) after finding they ran a scheme that helped clients bypass UK visa rules. Former chief executive Denisz Nagy has been fined £324,800 and former finance director Sanjay Maraj £122,000 for their roles in the scheme. Both have been banned from working in financial services. The FCA has also decided to ban Dolfin co-founder, Roman Joukovski, from working in financial services. Between 2016 and 2019, most clients using the scheme paid a fee of £400,000 instead of investing £2m of their own money in UK companies, as required under the Home Office investor visa rules. The FCA found the scheme was deliberately designed to create the false impression that the visa requirements had been met.

  • AUSTRAC warns of scammers impersonating agency and staff

    Austrac

    AUSTRAC is warning the public to remain vigilant after discovering cases where scammers impersonated the agency and its staff in an attempt to steal money and sensitive information. AUSTRAC CEO Brendan Thomas said scammers are using emails, phone calls and messages that appear legitimate to pressure victims into making urgent payments or disclosing personal details. “AUSTRAC does not contact members of the public unexpectedly demanding payment,” Mr Thomas said.

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