Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Financial Crime

NEWS: Compliance chiefs warn of increasing financial crime risk as online gambling skyrockets in US

Premium August 30, 2022
Premium

NEWS: GVA Capital hit with $216 million OFAC fine for managing funds linked to Russian Oligarch Kerimov

 Premium

NEWS: Latvia’s AML regime praised as ‘outstanding’ as FATF due to update grey list

NEWS: Latest FCPA guidelines ‘narrow’ focus of US law banning overseas bribes

By Elizabeth Hearst for AMLi

Senior compliance executives have warned of the increasing financial crime risks posed by surging online gambling.

The increase follows a 2018 Supreme Court decision to strike down a ban on online sports wagering, with online gambling now skyrocketing across the US.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!

View subscription optionsIf you have an account, log in
Premium

NEWS: GVA Capital hit with $216 million OFAC fine for managing funds linked to Russian Oligarch Kerimov

 Premium

NEWS: Latvia’s AML regime praised as ‘outstanding’ as FATF due to update grey list

NEWS: Latest FCPA guidelines ‘narrow’ focus of US law banning overseas bribes

Regulatory Watch News

  • Counter Terrorism Designations; The U.S. Department of the Treasury’s Office of Foreign Assets Control Assesses a Civil Monetary Penalty against GVA Capital, Ltd.

    OFAC

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has assessed a $215,988,868 civil monetary penalty against GVA Capital Ltd. of San Francisco, California for violations of OFAC's sanctions against Russia and for related reporting obligations. GVA Capital knowingly managed an investment for sanctioned Russian oligarch Suleiman Kerimov while aware of his blocked status. GVA Capital also failed to comply with an OFAC subpoena during OFAC's investigation into this matter. The penalty amount reflects OFAC's determination that GVA Capital's conduct was egregious and not voluntarily self-disclosed.

  • Six Defendants Charged In Multimillion-Dollar Check Theft And Bank Fraud Ring

    United States Attorney Office -Southern District of New York

    “As alleged, the six defendants charged today lined their pockets by stealing checks destined for hard working New Yorkers and others,” said U.S. Attorney Jay Clayton. “Together with our partners at the Postal Inspection Service, we will fight to protect the integrity of the U.S. mail system—a public service upon which millions of Americans rely every day to send items of financial, professional, and personal importance.”

  • FINTRAC imposes an administrative monetary penalty on Hub Capital Inc.

    FINTRAC

      FINTRAC announced today that it has imposed an administrative monetary penalty on Hub Capital Inc. Following a compliance examination in 2023, this independent wealth management firm in Woodbridge, Ontario, considered as a securities dealer, was imposed an administrative monetary penalty of $99,000 on March 21, 2025, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.

Sign Up To Our Newsletter

Contact Us