NEWS: Assets Managers charged by US DOJ in alleged $1.2BN money laundering scheme

Regulatory Watch News

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  Treasury Cracks Down on Transnational Criminal Organization Behind Cyber Scam Operations Targeting Americans

  OFAC

  September 9, 2026

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Transnational Criminal Organization (TCO) Xinbi Guarantee, a Chinese-language platform used extensively by Chinese cybercriminals that operates a large illicit online marketplace used to support cyber scams, fraud, money laundering, and other criminal activity targeting Americans.  OFAC also designated two entities that support Xinbi Guarantee’s core operations via the provision of digital currency and other financial services.  This action is being taken in coordination with the Department of Justice’s Scam Center Strike Force (SCSF), which today seized infrastructure and digital asset wallets used by Xinbi Guarantee.

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  UK to bring forward new powers to respond to moral emergency in Palestine, and target illegal settlement activity in the West Bank to protect the viability of a two-state solution

  UK Government

  September 9, 2026

  • UK concludes ongoing Israel occupation of  Palestinian  territory  unlawful  and  announces  tough new powers against illegal settlement activity, violence, and extremism to protect two-state solution.
  • New measures will ban imports of goods from illegal settlements and go after individuals and companies that support, facilitate or profit from illegal settlement activity
  • Comes as Foreign Secretary takes action against Iran, and reaffirms government’s commitment to tackling antisemitism.

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  Drug trafficking investigation leads to some of the world’s biggest underground bankers

  Europol

  September 9, 2026

  Some of the world’s biggest underground bankers have been targeted in an international law enforcement operation against a sophisticated financial network suspected of financing drug trafficking and laundering criminal proceeds around the world. The investigation, led by the Spanish National Police (Policía Nacional) and supported by Europol, has resulted in the arrest of 21 suspects for offences including participation in a criminal organisation, drug trafficking and money laundering. An action day carried out in Spain on 22 July 2026 resulted in the arrest of 15 suspects. Spanish authorities also issued 19 international arrest warrants against suspects located outside the country. Six of these warrants have since been executed, resulting in four arrests in the United Arab Emirates, one in Egypt and one in the Netherlands.