Anti-Financial Crime & Financial Crime Compliance
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INSIGHT: One of the world’s biggest insurance firms has fallen foul of U.S. sanctions – here are the key lessons

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Signage is seen on the MetLife Inc building in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly/File Photo

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NEWS: Zelensky’s ex-top aide arrested on money laundering charges as Ukraine corruption probe widens

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NEWS: Finland Names Kurri as AMLA General Board Representative

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NEWS: Trust offices must report more suspicious transactions, DNB warns

By Sarah Beth Felix, Special Correspondent

ANOTHER Office of Foreign Assets Control (OFAC) penalty issued by U.S. Department of the Treasury. 

While a small amount – only $178,421 – it is an overall reflection that if you have knowledge, you have a burden. The maximum penalty could have been $858 million! Yikes.

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NEWS: Zelensky’s ex-top aide arrested on money laundering charges as Ukraine corruption probe widens

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NEWS: Finland Names Kurri as AMLA General Board Representative

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NEWS: Trust offices must report more suspicious transactions, DNB warns

Regulatory Watch News

  • Cybercrime Squad detectives charge trio alleging using scam money to purchase gold bullion

    Australia Federal Police

    NSW Police Cybercrime Squad detectives, with the assistance of the AFP-led Joint Policing Cybercrime Coordination Centre (JPC3), have charged three people and seized gold bullion following an investigation into an alleged $600,000 email scam under Strike Force Downstream. Strike Force Downstream is an ongoing investigation by State Crime Command’s Cybercrime Squad, investigating matters referred by the JPC3. In May 2026, JPC3 analysts and industry partners – as part of JPC3 Operation Dolos – obtained evidence of a 20-year-old woman allegedly purchasing $100,000 worth of gold bullion on five occasions within a two-week period.

  • FINTRAC imposes an administrative monetary penalty on 13010431 Canada Inc.

    FINTRAC

    FINTRAC announced today that it has imposed an administrative monetary penalty on 13010431 Canada Inc., also operating as Necosmart. Following a compliance examination, this money services business in Edmonton, Alberta, was imposed an administrative monetary penalty of $693,742.50 on March 27, 2026, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.

  • Update to UK Sanctions List: Russia, Iran and Afghanistan Regime

    UK Government

    Today, Thursday 14 May, the UK Government has revoked 1 specification, varied 1 designation, and made 3 amendments to designations imposed under the Russia Sanctions Regime. Revoked Specification:

    Name: IMO Number: Unique ID:
    MILLEROVO IMO 9035541 RUS2605
    Varied Individual:
    Name: Unique ID:
    Yulia GURYEVA-MOTLOKHOV RUS2066
    Amended Individuals:
    Name: Unique ID:
    Pavel Valerevich NIKITIN RUS3515
    Dmitriy Evgenievich SHEVCHENKO RUS3519
    Timofey Vladimirovich VASILIEV RUS3573

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