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NEWS: Supervisor of US consumer watchdog CFPB warned staff againt aggressive oversight

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INSIGHT: The key compliance lessons from FinCEN’s historic $125m UBS fine

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NEWS: Economic crime in Spain rising sharply, driven by digitalisation, authorities say

Warning from UBS audit on bank's statements

BREAKING: UBS fined record $125m by FinCEN over ‘willful’ AML breaches

By Douglas Gillison

A top supervision examiner at the U.S. Consumer Financial Protection Bureau (CFPB) warned staff they would face “most unpleasant” consequences if they were too aggressive in their oversight of financial firms, according to an internal email.

The threat was emailed on May 13 by Chief Examiner Fatima Batie to many of the agency’s mid-level supervision staff as they were preparing to resume inspections of financial firms following a long hiatus, according to the email and two people familiar with the matter.

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Premium

INSIGHT: The key compliance lessons from FinCEN’s historic $125m UBS fine

 Premium

NEWS: Economic crime in Spain rising sharply, driven by digitalisation, authorities say

Warning from UBS audit on bank's statements

BREAKING: UBS fined record $125m by FinCEN over ‘willful’ AML breaches

Regulatory Watch News

  • 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
     

  • INTERPOL report finds AI linked to more than half of cybercrime in Africa

    Interpol

    LYON, France - Artificial intelligence is enabling 55 per cent of reported cybercrimes across Africa making attacks faster, more scalable, and increasingly difficult for victims and platforms to detect, according to INTERPOL’s African Cyberthreat Assessment Report 2026. With more than 1.1 billion mobile subscribers recorded in 2025, Africa’s digital transformation is expanding rapidly. However, cybercrime legislation is fragmented and AI readiness in law enforcement agencies remains alarmingly low. The 40-page report draws on survey data from 36 African member countries and highlights a defining shift: cyber-criminality has evolved from isolated incidents into an industrialized, borderless ecosystem.

  • FCA finalises rules to cut firms’ transaction reporting costs by over £100m a year

    Financial Conduct Authority

    Transaction reports are critical to the FCA’s ability to detect and investigate market abuse, monitor market functioning and supervise firms effectively. The new rules are designed to ensure the FCA continues to receive accurate, high-quality data while eliminating duplicative or low-value reporting. By removing unnecessary reporting the changes will reduce regulatory burden and support growth and competitiveness. The changes will save firms more than £100m a year. Therese Chambers, joint executive director of enforcement and market oversight, said: 'Transaction reports are the backbone of our market oversight work – they help us catch financial crime, monitor market stability and supervise firms effectively. 'By taking a smarter, streamlined approach to reporting, we're giving firms meaningful cost relief while ensuring we continue to receive the accurate, high-quality data that keeps UK markets clean and competitive.'

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