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

Compliance, Regulatory

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

Premium July 24, 2026

Wise logo in this illustration taken November 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

NEWS: Concerns of Palestinian economic crisis grow as Israeli banks prepare to cut ties

 Premium

NEWS: FCA bans father and son over fraud and misuse of client money

 Premium

EUROPEAN NOTEBOOK: Paris is the place to be for top EU officials — and the hacks chasing them

By CARLO BOFFA, EU Correspondent Wise, the London-listed money transfer group, has been denied a US banking licence by American authorities over poor anti-money laundering controls and changes to trust bank regulation. The Office of the Comptroller of the Currency said in a letter dated July 21 to Wise that the company had failed to…

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

NEWS: Concerns of Palestinian economic crisis grow as Israeli banks prepare to cut ties

 Premium

NEWS: FCA bans father and son over fraud and misuse of client money

 Premium

EUROPEAN NOTEBOOK: Paris is the place to be for top EU officials — and the hacks chasing them

Regulatory Watch News

  • 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.  

  • Update to UK Sanctions List: Libya Regime

    UK Government

    Today, Friday 24 July, the UK Government has specified 1 vessel under the Libya Sanctions Regime. This reflects the decision to specify the vessel made by UN Security Council Sanctions Committee pursuant to Resolution 1970 (2011). Specified Vessel:

    Name: UN ID: Unique ID:
    IMO 9058713 (“AVAX”) Lye.006 LIB0079
     

  • Dallas Laboratory, Owners, and Investors Pay $24M to Resolve COVID-19 Testing Fraud Allegations

    US Department of Justice

    Magnolia Diagnostics, a clinical laboratory based in Dallas, Texas, and its owners, John Bains and Kelly Bains, have agreed to pay the United States $19.2 million to resolve allegations that they violated the False Claims Act by billing Medicare for medically unnecessary respiratory pathogen panel testing performed on seniors receiving COVID-19 tests. Magnolia investors will pay an additional $4.8 million to resolve common law claims for unjust enrichment and payment by mistake and claims under the Federal Debt Collection Procedures Act, arising from distributions they received from Magnolia.

Sign Up To Our Newsletter

Contact Us