Category: Financial Services

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Paysera fined for not following AML laws

Online payment company receives €370k fine for ‘significant shortcomings’ in AML practices; plans to appeal on proportionality grounds

Brothers who helped launder $250 million through online payment company, AlertPay, are jailed

FATF chief David Lewis warns that VASPs are behind in using international standards of fighting financial crime

FATF chief warns that VASPs are behind in using international standards of fighting financial crime

WESTERN UNION is going to halt its US money transfers to Cuba under trump administration

Western Union halts all US money transfers to Cuba under new Trump embargo

JPMorgan Nigeria money laundering

JPMorgan agrees to point finger at employees involved in fraudulent transfer for former Nigerian minister

Cainevest Bank Cayman Islands

Prominent Cayman bank Cainvest receives €100k fine for breaches of due diligence

Senior Swedish AML advisor warns of risks in centralising EU financial supervision

Senior Swedish AML advisor warns of risks in centralising EU financial supervision; says financial sectors are ‘complex’

UK eyeing tougher laws to scrutinise foreign investment

UK eyeing tougher laws to scrutinise foreign investment and ensure national security

Global Financial Crime Investigations Surveyr

Fincrime investigators say they are swamped with work, need more tech tools, value anonymity and highlight the need for more specialised training, including insights into criminal trends

AML changes with Brexit says Matthew Redhead

Brexit ‘unlikely to be apocalypse for AML compliance’ in UK but financial services will be tied with more responsibility, conference told

Julius Baer to hand over nearly $80 million to DoJ to settle FIFA corruption case

FATF and IMF in the fight against financial crime

ANALYSIS: The importance of beneficial ownership in markets besieged by a global pandemic: top experts share their insights for 2021

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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.