Anti-Financial Crime & Financial Crime Compliance
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Financial Crime, Fraud

NEWS: Check fraud rises despite falling use, Nasdaq Verafin finds

Premium December 18, 2025
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NEWS: DeA Capital, €12 billion fund, ordered to replace CEO and board due to AML issues

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NEWS: Swiss bank Lombard and daughter of former Uzbek president accused in money laundering trial

OPINION: How EU navigates current challenges in implementing financial crime regulation is critical to future of European competitiveness

By PAUL O’DONOGHUE, Senior Correspondent

CHECK fraud remains a major threat to financial institutions, even as the use of paper checks declines, according to new data from Nasdaq Verafin.

“In 2025 alone, Nasdaq Verafin caught over $1 billion in check fraud across the check lifecycle,” the company said in a new report. “Criminals continue to exploit blind spots in legacy detection capabilities.”

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NEWS: DeA Capital, €12 billion fund, ordered to replace CEO and board due to AML issues

 Premium

NEWS: Swiss bank Lombard and daughter of former Uzbek president accused in money laundering trial

OPINION: How EU navigates current challenges in implementing financial crime regulation is critical to future of European competitiveness

Regulatory Watch News

  • Europol supports hit against ‘Black Axe’ criminal organisation in Switzerland: 10 arrests

    Europol

    Europol has supported a comprehensive investigation conducted by Swiss authorities in collaboration with German law enforcement against members of the international criminal organisation ‘Black Axe’. On 28 April 2026, house searches were carried out in several Swiss cantons, resulting in a total of 10 arrests, including the Black Axe “Regional Head” for the Southern European region. This operation targeted leaders and members of the Nigerian brotherhood suspected of being active internationally in a wide range of criminal activities.

  • New Jersey Man Sentenced To 42 Months For $9 Million Fraud

    United States Attorney Office -Southern District of New York

    United States Attorney for the Southern District of New York, Jay Clayton, announced today that ARSEN LUSHER was sentenced to 42 months in prison by U.S. District Judge Dale E. Ho for perpetrating a scheme to defraud more than 20 investors of nearly nine million dollars.  On August 18, 2025, LUSHER pled guilty to one count of wire fraud.

    “Today’s 42-month sentence comes at the end of a too common story:  a fast-talking fraudster promising exceptional returns but not giving investors basic information,” said U.S. Attorney Jay Clayton.  “Arsen Lusher lied to victims about the nature of his business to line his own pockets.  When the walls came closing in, Lusher doubled down, creating false documents to try to lull his victims into a false sense of security about their investments.  Lusher’s fraud was brazen, and it cost his victims nearly $9 million.  A good rule of thumb for investors:  no audit, no investment.”

  • FCA Board appoints 2 new members to the Regulatory Decisions Committee

    Financial Conduct Authority

    The Board of the FCA has appointed Jonathan Peddie and Raymond Cox KC as new members of the FCA’s Regulatory Decisions Committee (RDC). The RDC is responsible for taking certain regulatory decisions on behalf of the FCA relating to contested enforcement action. Committee members bring a broad range of professional experience to support fair, independent and evidence-based decision-making.

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