Anti-Financial Crime & Financial Crime Compliance
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Tag: Fraud

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    • Regulatory Watch News

    • Alibaba Group and AUS Merchant Services Agree to Pay $600 Million to Resolve Allegations that they Failed to Prevent Illegal Sales of Pharmaceuticals, Pharmaceutical Equipment, and Other Illegal Products

      US Department of Justice

      Alibaba Group Holding Limited (Alibaba) — one of China’s largest companies — and its U.S.-based payment processor, AUS Merchant Services Inc. (AUS, and formerly known as Alipay US), have entered a non-prosecution agreement to pay $600 million to resolve the Justice Department’s allegations that they violated the Federal Food, Drug, and Cosmetic Act (FDCA) by failing to prevent merchants from selling and importing illegal pharmaceuticals, controlled substances, listed chemicals, and pill presses into the United States through the Alibaba.com and AliExpress.com e‑commerce platforms.

    • Treasury Sanctions Brazilian Criminal Network Exploiting U.S. Financial System to Launder Drug Proceeds

      OFAC

      WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two Brazilian nationals, three Brazilian companies, and one Portuguese company for their links to Latin America’s largest criminal gang, Brazil-based Primeiro Comando da Capital (PCC). PCC represents a significant threat to U.S. national security, as its operatives throughout the United States, particularly in Florida, launder drug proceeds and contribute to a cycle of criminality.

    • UK takes over Presidency of Financial Action Task Force (2026–2028)

      FATF

      Giles Thomson began his term as President of the Financial Action Task Force (FATF) on 1 July 2026. He succeeded Ms. Elisa de Anda Madrazo of Mexico. He served as FATF Vice-President from July 2025 - June 2026 and has been replaced by Vivek Aggarwal, from India, as Vice-President. Giles Thomson serves as Director for Economic Crime and Sanctions in His Majesty's Treasury. He is responsible for the UK's AML/CTF policy and the Office for Financial Sanctions Implementation.

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