Category: Financial Services

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Phoenix Thoroughbreds banned from running horses in UK by BHA amid money laundering allegations

EBA demands a single set of AML rules across Europe to tackle money laundering

Two Cyprus law firms’ licences revoked amid money-laundering investigation

Blow to Malta’s finance sector as tax transparency rating downgraded

Lawyers warned of being ‘caught’ in crime operations

Countries on EU ‘blacklist’ seek to save their competitiveness

Visa to answer questions from European Commission over regulation of FinTechs

Switzerland freezes $900 Million linked to Angolan businessman in money laundering probe

German Parliament to launch full inquiry into Wirecard

Trillions estimated to be lost from poorer countries by 2030

Wolfsberg Group issues guidelines for financial institutions on AML

US Department of Justice charges four in global Ponzi scheme

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Treasury Further Dismantles Iranian Financier Zanjani’s Network
US Department of the Treasury
July 24, 2026
WASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designatedfour individuals and nine entities that form key components of Babak Zanjani (Zanjani)’s broader Iranian sanctions evasion network. Zanjani has leveraged a diverse portfolio—including financial services, gold and precious gem production, digital asset trading, and major transportation and infrastructure projects—to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.
FinCEN Issues Alert on Fraud Schemes Targeting Federal Student Aid
FinCEN
July 24, 2026
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government.
New guidance on verifying communications claiming to be from OFSI
OFSI
July 24, 2026
OFSI has published new guidance on how to verify whether communications claiming to be from OFSI are genuine.

The guidance provides information to help individuals verify communications claiming to be from OFSI, including signs that a communication may not be genuine and sets out what to do if you are unsure.