Tag: Fraud

Regulatory Watch News

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  Millions forfeited by company linked to suspected money laundering and sanctions evasion

  August 31, 2026

  An agricultural company has agreed to forfeit more than $5.2million (£3.84m) following a NCA civil recovery investigation into suspected money laundering and sanctions evasion. ENEX Premium Trading Limited, owned by Azerbaijan National, Nadir Valiyev and registered to St Kitts and Nevis, had transferred significant funds into recently-opened accounts held by ENEX between July and September 2024. In opening the UK accounts, Nadir Valiyev stated that the source of funds was from his personal wealth and retained earnings from previous trading structures, which included UAE registered Burston Trading FZE.

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  MAS Commits S$220 Million to Support Next Phase of FinTech Innovation

  MAS

  August 31, 2026

  Singapore, 31 August 2026… The Monetary Authority of Singapore (MAS) today announced a S$220 million commitment over three years under the renewed Financial Sector Technology and Innovation Scheme (FSTI 4.0) to strengthen Singapore’s FinTech ecosystem and accelerate innovation and technology adoption across the financial sector. FSTI 4.0 builds on a strong foundation of Singapore’s FinTech sector, which is now home to more than 1,800 FinTech firms, employing close to 10,000 professionals across technology, data, artificial intelligence (AI), compliance, cybersecurity and business roles. FinTech investments in Singapore hit S$2.9 billion in 2025.

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  Iran’s Access to UAE Banks Targeted Under Operation Economic Outcast

  US Department of the Treasury

  August 28, 2026

  Banque Misr UAE Processed Suspected Billions for Iranian Regime in Just 2.5 Years WASHINGTON, D.C. —Today, under Operation Economic Outcast, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a rule that would revoke Banque Misr UAE’s correspondent banking access to U.S. financial institutions. “Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime,” said Secretary of the Treasury Scott Bessent. “We also warned that Iran’s enablers cannot continue to enjoy access to the U.S. dollar and the global financial system. Banque Misr UAE decided to find out the hard way, and today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime.”