Category: North America

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NEWS: US sets up ‘KleptoCapture’ task force to identify and seize assets of sanctioned Russians and their companies; will work with EU and Canada

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ANALYSIS: Wolfsberg Group of banks tells FinCEN ‘define’ its AML demands to streamline the US’s battle against dirty money

INSIGHT: Europe and US withdraw threats to exclude Russia from SWIFT payment system should Russia invade Ukraine

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Theranos founder, Elizabeth Holmes, convicted of fraud and conspiracy as Silicon Valley reels from billionaires fall from grace

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PENALTY: CommunityBank of Texas is fined $8M by FinCEN for willful violations of its AML regime

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Former DEA agent who diverted $9M from undercover investigations to himself is jailed for money laundering

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LATEST: ‘Aggressive’ policies promised as full draft of US beneficial ownership law open for feedback

FinCEN

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UNITED STATES: FinCEN promises renewed crackdown on real estate money laundering; warns of corrupt officials funnelling dirty cash in property loans

Illegal logging: one of the worst drivers of environment-based crime

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ENVIRONMENT: FinCEN warns US institutions to ramp up reporting efforts around environmental crimes

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SEC’s corruption penalties jump in 2021; billions in disgorgement and fines recorded

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AML expert and journalistic source handed prison sentence for laundering millions in profits from embezzlement scheme

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Man sought by US government in long-running Odebrecht laundering scandal arrives in US following extradition

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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.
Update to UK Sanctions List: Libya Regime
UK Government
July 24, 2026
Today, Friday 24 July, the UK Government has specified 1 vessel under the Libya Sanctions Regime. This reflects the decision to specify the vessel made by UN Security Council Sanctions Committee pursuant to Resolution 1970 (2011). Specified Vessel:

Name: UN ID: Unique ID:

IMO 9058713 (“AVAX”) Lye.006 LIB0079
Dallas Laboratory, Owners, and Investors Pay $24M to Resolve COVID-19 Testing Fraud Allegations
US Department of Justice
July 23, 2026
Magnolia Diagnostics, a clinical laboratory based in Dallas, Texas, and its owners, John Bains and Kelly Bains, have agreed to pay the United States $19.2 million to resolve allegations that they violated the False Claims Act by billing Medicare for medically unnecessary respiratory pathogen panel testing performed on seniors receiving COVID-19 tests. Magnolia investors will pay an additional $4.8 million to resolve common law claims for unjust enrichment and payment by mistake and claims under the Federal Debt Collection Procedures Act, arising from distributions they received from Magnolia.