Category: Analysis

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INSIGHT: GDPR revamp the opportunity for EU bank data-sharing to fight financial crime

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INSIGHT: What banks need to know about FinCEN’s new alert on armored car cash smuggling to Mexico

IN FOCUS: We meet Sardine co-founder Soups Ranjan and put the spotlight on his professional life

LATEST: Deal on ‘strike force’ against organized crime, money laundering prevents US- Canada trade war

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INSIGHT: Marshall Islands company hit with US sanctions – here are the key lessons

INSIGHT: Corporate secrecy ‘scourge’ in fight against fincrime, time for fully public BO registers, says Financial Times

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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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INSIGHT: Crypto industry pushes for policy sea change after Trump victory

NEWS: AML Intelligence’s Technology Newsletter gets over 20,000 subscribers in just two weeks

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INSIGHT: Why a beer company’s $860k fine for dealing with North Korea is a crucial lesson on U.S. sanctions

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INSIGHT: Florida’s Axiom Bank hit with AML consent order – here are the key points

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ANALYSIS: The key problems identified in the massive Wells Fargo AML enforcement order

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Executive Vice President of Insurance Brokerage Pleads Guilty in $133M Affordable Care Act Fraud Scheme
US Department of Justice
April 19, 2025
A Florida executive pleaded guilty today for his role in a scheme to submit fraudulent applications to enroll consumers in Affordable Care Act insurance plans (ACA plans) that were fully subsidized by the government. The purpose of the scheme was to obtain millions of dollars in commission payments from the insurance company that operated the ACA plans. The federal government paid at least $133,900,000 in subsidies for fraudulently enrolled individuals.
Man convicted of trying to smuggle £1m in suitcases out of UK
National Crime Agency
April 18, 2025
A man who was stopped at Heathrow Airport with £1m in two suitcases has admitted money laundering following a National Crime Agency investigation. Mazen Al Shaar, 48, was stopped by Border Force officers on Saturday 15 March this year as he was about to fly from Terminal Three to Beirut.
Treasury Targets International Bank of Yemen for Support to the Houthis
OFAC
April 18, 2025
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning Yemen-based International Bank of Yemen Y.S.C. (IBY) for its financial support to Ansarallah, commonly known as the Houthis, which is part of the Iran threat network. As part of this designation, OFAC is also sanctioning key leaders or officials of IBY, Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara. The designation of IBY complements the whole-of-government effort to stop Iran-backed Houthi attacks against commercial shipping in the Red Sea.