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LATEST: Bank of America flags potential new AML fines

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NEWS: FDIC relaunches Office of Supervisory Appeals

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NEWS: UK money mule cases surge 69% in first half of 2026

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NEWS: EU Commission’s delay leaves beneficial ownership registry access in limbo

By PAUL O’DONOGHUE, Senior Correspondent

BANK of America has revealed it faces potential fines amid a U.S. regulatory enforcement action over deficiencies in its anti-money laundering (AML) programme.

In its latest quarterly filing with the U.S. Securities and Exchange Commission (SEC), the bank said it is “continuing to discuss a resolution” with the Office of the Comptroller of the Currency (OCC) regarding a December 2024 consent order.

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Premium

NEWS: FDIC relaunches Office of Supervisory Appeals

 Premium

NEWS: UK money mule cases surge 69% in first half of 2026

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NEWS: EU Commission’s delay leaves beneficial ownership registry access in limbo

Regulatory Watch News

  • EBA publishes draft reporting framework for the 2027 eligibility data collection

    AMLA

    As part of release 4.4 of its reporting framework, the European Banking Authority (EBA) has published a public working draft of the data model and taxonomy that will support the collection of data on eligibility for direct supervision by AMLA.

    The data will be gathered in early 2027 from all obliged entities identified as provisionally eligible in 2026, to confirm whether they still meet the criteria on 31 December 2026, the reference date for the selection exercise.

  • Melbourne drug traffickers using encrypted criminal platform sentenced as part of Operation Kraken

    Australia Federal Police

    Two Melbourne men have been sentenced over their involvement in a drug trafficking ring linked to Italian organised crime. The AFP launched Operation Kraken-Kashyyyk in July, 2024, targeting members of Italian organised crime who were using Ghost, an encrypted communications platform designed specifically for criminal use. The platform has since been dismantled by international law enforcement. Investigators identified the men, now both aged 27 and from Moonee Ponds and Keilor East, as suspected of using the encrypted application to traffic commercial quantities of controlled drugs.

  • Update to UK Sanctions List: Afghanistan Regime

    UK Government

    This e-alert is a re-issue of one published on Friday 31 July, which contained mismatches between the individuals' names and UN IDs. The underlying data and change notice have not been changed.  Today, the UK Government has varied 5 designations under the Afghanistan Sanctions Regime. This reflects the decision to amend these designations made by the UN Security Council Sanctions Committee pursuant to Resolution 1988 (2011) on 30 July. Individuals Varied:

    Name: UN ID: Unique ID:
    Jalaluddin HAQQANI TAi.144 AFG0036
    Noor Mohammad SAQIB TAi.110 AFG0088
    Hamdullah NOMANI TAi.044 AFG0039
    Abdul-Haq WASSIQ TAi.082 AFG0062
    Gul Agha ISHAKZAI TAi.147 AFG0115
     

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