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

Compliance, Compliance News, EU, Regulatory

NEWS: Latvian gambling firm Laimz fined 5% of turnover over customer screening issues

Premium June 20, 2025

The entrance of the European Court of Justice is pictured in Luxembourg, January 26, 2017. Picture taken January 26, 2017. REUTERS/Francois Lenoir/

Premium

NEWS: US Treasury urges banks to flag student aid fraud

NEWS: US hits network of Iranian financier Zanjani with more sanctions

 Premium

NEWS: OCC denies Wise US banking licence, citing AML deficiencies

By PAUL O’DONOGHUE, Senior Correspondent

LAIMZ, a Latvian gambling company, has been fined 5% of its annual turnover due to an ineffective customer screening system.

The Court of Justice of the European Union found the firm failed to carry out due diligence on a customer considered to be a ‘close associate’ of a politically exposed person (PEP).

AML Intelligence
Subscribe now to have unlimited access

With our membership 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: US Treasury urges banks to flag student aid fraud

NEWS: US hits network of Iranian financier Zanjani with more sanctions

 Premium

NEWS: OCC denies Wise US banking licence, citing AML deficiencies

Regulatory Watch News

  • Treasury Further Dismantles Iranian Financier Zanjani’s Network

    US Department of the Treasury

    WASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designatedfour individuals and nine entities that form key components of Babak Zanjani (Zanjani)’s broader Iranian sanctions evasion network.  Zanjani has leveraged a diverse portfolio—including financial services, gold and precious gem production, digital asset trading, and major transportation and infrastructure projects—to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.

  • FinCEN Issues Alert on Fraud Schemes Targeting Federal Student Aid

    FinCEN

    Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government.

  • New guidance on verifying communications claiming to be from OFSI

    OFSI

    OFSI has published new guidance on how to verify whether communications claiming to be from OFSI are genuine. 

    The guidance provides information to help individuals verify communications claiming to be from OFSI, including signs that a communication may not be genuine and sets out what to do if you are unsure.  

Sign Up To Our Newsletter

Contact Us