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NEWS: North Korea condemns FATF decision to keep country on blacklist

Premium November 6, 2026

North Korean leader Kim Jong Un speaks during a visit to the National Defense University in Pyongyang, North Korea, October 7, 2024, in this photo released by North Korea's official Korean Central News Agency. KCNA via REUTERS/File Photo

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REVEALED: Who AMLA is meeting over next month to discuss simplified due diligence rules

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NEWS: EU expects decision in November on anti-scam code of conduct for social media firms

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COMPLIANCE COUNCIL: Fraud costs Europe €480,000 an hour, EU official says

By Kyu-seok Shim

NORTH Korea has condemned as politically motivated a decision by the Financial Action Task Force to retain it as a high-risk jurisdiction subject to countermeasures.

In a statement carried by state media KCNA, the foreign ministry accused the global financial watchdog of serving the US policy of hostility toward North Korea.

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Premium

REVEALED: Who AMLA is meeting over next month to discuss simplified due diligence rules

 Premium

NEWS: EU expects decision in November on anti-scam code of conduct for social media firms

 Premium

COMPLIANCE COUNCIL: Fraud costs Europe €480,000 an hour, EU official says

Regulatory Watch News

  • 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.

  • FCA to explore quantum computing to tackle financial crime

    Financial Conduct Authority

    A new initiative will bring together firms, quantum technology providers, and national research labs to explore practical applications of quantum computing.
    The FCA will bring together financial services firms, quantum technology providers and national research laboratories to explore how quantum computing could help tackle financial crime. The Quantum Experimentation Group, the first of its kind for a regulator, will initially explore how quantum machine learning could help detect money laundering and fraud. It will launch in the first quarter of 2027. Participants will use an FCA synthetic dataset – artificially generated data – to help overcome a key barrier to testing: access to suitable data.

  • Investigation ‘Javelin’: EPPO targets €100 million VAT carousel fraud linked to luxury cars sales

    European Public Prosecutor's Office

    (Luxembourg, 5 November 2026) – The European Public Prosecutor’s Office (EPPO) in Frankfurt (Germany) and Graz (Austria) have taken action against a criminal network operating cross-border VAT fraud schemes linked to the import and sales of luxury cars, causing estimated losses of €100 million. Under the EPPO-led investigations, code-named ‘Javelin’, searches were carried out yesterday in Austria, Croatia, Czechia, Germany and Poland, supported by over 900 law enforcement agents (tax and police officers). Thirteen individuals were arrested in Germany and Austria. Over 50 suspects are under investigation.

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