Category: Financial Services

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SRA AML expert warns layers to check the money they may work with

Lawyers’ own AML expert tells his members – ‘Be more thorough on your homework on clients and their funds’

Odessa criticized over high levels of corruption

News outlet backed by US doubles down on Ukrainian city of Odessa; criticises frequent corruption in construction sector and links to Russian influence

Ahmad Ahmad handed 5 year ban by FIFA

Head of African soccer handed five-year football ban and fine over corruption findings, just weeks after announcing re-election campaign

A Trump nominated regulator forces banks to lend to oil and gun companies

Trump-nominated regulator to force banks to lend money to oil and gun businesses

Singapore is looking to adopt the digital dollar

Singapore has eyes on digital currency but will aim it at wholesale business rather than everyday transactions

FATF Head, Marcus Pleyer warns of covid related financial crime

‘Real estate, construction and SMEs’ vulnerable to criminal infiltration during pandemic, warns FATF President

Russian fraud case dropped

Swiss courts to drop fraud case against Russian officials over lack of evidence; frozen assets to be released and investigation to be closed

, Law experts have called for key reforms to re-emphasise the importance of tackling corruption

Legal experts say EU must act ‘without delay’ to ensure the bloc is as ready as possible to fight corruption

Criminals use paypal to launder money from covid-19 relief fund

US money launderers using apps such as Cash App, Venmo, Zelle and PayPal to exploit Covid-19 relief funds

NASDAQ acquires Verafin

AML firm to be acquired by Nasdaq in major multi-billion dollar deal

Head of NCA calls for reform on defensive reporting

British NCA chief calls for reform of SAR system to eliminate the challenges posed by ‘defensive reporting’

Cryptocurrency

Crypto and VASP expert says FATF must rethink its approach to virtual assets; claims current standards are ‘not fit for purpose’

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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.