Anti-Fraud & Financial Crime
Regulatory Intelligence Incorporating 'Fraud Squad'

Compliance, Crypto, Tech, US

NEWS: FinCEN scraps plan to lower cross-border Travel Rule threshold to $250

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Representations of cryptocurrencies in this illustration taken January 24, 2022. REUTERS/Dado Ruvic/Illustration

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COMPLIANCE COUNCIL: EU must fast-track anti-scam code for social media firms, says Regina Doherty MEP

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EUROPEAN NOTEBOOK: AMLA chief heads to Washington to gauge US intentions on standards and sanctions

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NEWS: US targets 41 companies linked to Cambodia’s Prince Group in fresh sanctions

By PAUL O’DONOGHUE, Senior Correspondent

THE US has withdrawn a proposal to lower the cross-border funds transfer reporting threshold from $3,000 to $250.

The decision leaves existing requirements unchanged. It also abandons a five-year-old proposal that would have brought more international payments and crypto transactions within the scope of the US Bank Secrecy Act (BSA).

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Premium

COMPLIANCE COUNCIL: EU must fast-track anti-scam code for social media firms, says Regina Doherty MEP

 Premium

EUROPEAN NOTEBOOK: AMLA chief heads to Washington to gauge US intentions on standards and sanctions

 Premium

NEWS: US targets 41 companies linked to Cambodia’s Prince Group in fresh sanctions

Regulatory Watch News

  • Combating End-to-End Illicit Financial Flows Linked to Scam Compounds: Applying the FATF Toolkit to the Fraud Epidemic

    FATF

    Scam compounds are networked, industrialised and transnational criminal infrastructures that may operate through large physical compounds, smaller or decentralised cells, and specialised service providers connected through common controllers, financial infrastructure and operational dependencies. The FATF’s report, Combating End-to-End Illicit Financial Flows Linked to Scam Compounds has examined scam compounds through a financial flows lens, tracing how criminal proceeds are generated, moved, laundered and reinvested.

  • Germany: Individual arrested over €1.1 million fraud involving subsidies for renovation of historic buildings and suspected arson

    European Public Prosecutor's Office

    (Luxembourg, 6 November 2026) – At the request of the European Public Prosecutor’s Office (EPPO) in Berlin (Germany), an individual was arrested this week on suspicion of fraudulently obtaining over €1.1 million in EU subsidies intended for the renovation of two historic buildings. He is also suspected of deliberately setting fire to one of the buildings in an attempt to conceal the alleged fraud. The arrested suspect was the representative of two non-profit associations based in the German federal state of Saxony-Anhalt. He applied for and received EU subsidies from the European Regional Development Fund (ERDF), totalling €1 126 299, for the renovation of two historic buildings, including energy-efficiency improvements. The buildings were intended for cultural activities, following their renovation.

  • Treasury Targets Global Scam Networks and the Corporate Infrastructure That Enables Them

    OFAC

    WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four individuals and 41 entities that support the business network of Prince Group Transnational Criminal Organization (TCO) previously sanctioned by the United States for its role in cyber-enabled fraud, money laundering, and human trafficking.  Additionally, OFAC designated a Malaysian individual who defrauded U.S. victims by managing a network of Africa-based scammers.

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