Tag: Andrea Bowe
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Regulatory Watch News
12 members of money laundering scheme exploiting Ukrainian women arrested in Spain
Europol
An international operation in Spain targeting a money laundering scheme resulted in the arrest of 12 suspects. The disrupted criminal network systematically exploited vulnerable Ukrainian women to open bank accounts, which were used in gaming platforms and to transfer illicit profits. Authorities estimate that the criminal organisation made a profit of EUR 4.75 million using this method. Spanish authorities, in close cooperation with Ukrainian police, led the operation with support from Europol and INTERPOL.
Regulators launch GenA.I. Sandbox++ to foster A.I. innovation across financial services
HKMA
The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and the Mandatory Provident Fund Schemes Authority (MPFA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced today (5 March) the launch of the Generative Artificial Intelligence (GenA.I.) Sandbox++ initiative.
AUSTRAC publishes guidance on use of new compulsory examination powers
Austrac
AUSTRAC has published guidance on its new compulsory examination powers, setting clear expectations for businesses and individuals about when and how the powers will be applied. The new section 172A powers were introduced in 2025 with the passing of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (AML/CTF Amendment Act). Section 172A notices require a person to attend an examination, answer questions and provide documents. AUSTRAC CEO Brendan Thomas said the guidance reflects the agency’s approach to exercising its powers carefully and responsibly.
