Category: Financial Services

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Maltese company N Trust is fined €94K by FIAU over AML concerns when incorporating new companies

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LATEST: UK to force PRs for foreign states to register; Zurich drops its ‘Z’; Swiss freeze $6BN Russian assets; Swedbank’s new AML woes

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NEWS: US CCOs will have to given written pledge on any new compliance programmes enacted after settlements with the Justice Department

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NEWS: European Commissioner for Financial Services says Ukraine war fallout has been a ‘wake-up call’ about importance of payments in times of crisis

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NEWS: Former Goldman Sachs employee faces charges of $2.7M (€2.5M) in bitcoin laundering

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NEWS: FATF says ‘cash is king’ in latest report on migrant smuggling; global financial watchdog warns of new ‘business models’ in industry

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BNY Mellon handed €10M fine by Central Bank of Ireland over 16 regulatory breaches

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NEWS: EBA finds competent authorities co-operation with FIUs ‘often ineffective’ and hampering Europe’s AML abilities

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NEWS: Sanctioned UK-based oligarch claims he’s put billions in assets beyond reach by using family trusts

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NEWS: European Central Bank appoints temporary administrator to Russia linked Cyprus RCB Bank

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EU NOTEBOOK: Why Malta is set to come off FATF ‘grey list’ ; how war is pushing Europe’s BO Register; and German plans to host AMLA look premature

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NEWS: Chief of France’s FIU (TRACFIN) believes EU’s new AML package provides ‘considerable’ improvement

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AMLA finalises common formats for FIU cooperation and reporting to the EPPO
AMLA
July 3, 2026
Better reporting to the EPPO
Two of the standards set a single format for reporting to the EPPO, the body that investigates and prosecutes crimes against the EU's financial interests. One covers how FIUs report the results of their own analyses, the other how AMLA reports joint analyses. A shared, machine-readable template will allow the EPPO to receive complete, comparable information it can process automatically.
MAS Partners Industry to develop Safeguards for AI Agents in Finance
MAS
July 3, 2026
Singapore, 3 July 2026… The Monetary Authority of Singapore (MAS), together with leading financial institutions and FinTechs, today published an industry white paper on developing safeguards for AI agents in Finance. Titled “Safeguards for Agentic Finance at Runtime (SAFR) ”, the paper proposes an industry-developed framework that enables AI agents in financial services to carry out financial tasks safely, securely and reliably. SAFR is developed under MAS’ BuildFin.ai^[1] initiative, which supports the responsible development and deployment of AI solutions in the financial sector.
AUSTRAC finalises enforceable undertaking with Sportsbet
Austrac
July 3, 2026
AUSTRAC has finalised its enforceable undertaking with Sportsbet Pty Ltd (Sportsbet) after the company addressed serious deficiencies in its anti-money laundering and counter-terrorism financing (AML/CTF) controls. AUSTRAC CEO Brendan Thomas said the outcome reinforces AUSTRAC’s expectation that reporting entities take immediate and sustained action to meet their legal obligations. “When AUSTRAC identifies systemic weaknesses in a reporting entity’s AML/CTF controls, we will take enforcement action to ensure those issues are addressed,” he said. “Sportsbet was required to undertake significant remediation to uplift its systems, controls and governance. AUSTRAC is now satisfied those requirements have been met.