NEWS: IRS-CI Chief says CTRs helped trace $92m in drug money ‘funneled through shell companies’

Regulatory Watch News

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  Explainer: What is the Commission on Narcotic Drugs?

  UNODC

  March 5, 2026

  Globally, the number of people who used drugs rose to 316 million in 2023, a historic high.  The UN Office on Drugs and Crime’s (UNODC) 2025 World Drug Report shows that a new era of global instability has intensified challenges in addressing the world drug problem, empowering organized crime groups and underscoring the need to strengthen responses, cross-border cooperation and judicial action that targets key actors driving these networks. The Commission on Narcotic Drugs (CND), the United Nations’ central drug policy-making body, is meeting from 9-13 March 2026 to take stock of progress made in the implementation of international drug policy commitments.

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  12 members of money laundering scheme exploiting Ukrainian women arrested in Spain

  Europol

  March 5, 2026

  An international operation in Spain targeting a money laundering scheme resulted in the arrest of 12 suspects. The disrupted criminal network systematically exploited vulnerable Ukrainian women to open bank accounts, which were used in gaming platforms and to transfer illicit profits. Authorities estimate that the criminal organisation made a profit of EUR 4.75 million using this method. Spanish authorities, in close cooperation with Ukrainian police, led the operation with support from Europol and INTERPOL.

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  Regulators launch GenA.I. Sandbox++ to foster A.I. innovation across financial services

  HKMA

  March 5, 2026

  The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and the Mandatory Provident Fund Schemes Authority (MPFA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced today (5 March) the launch of the Generative Artificial Intelligence (GenA.I.) Sandbox++ initiative.