Tag: Sense Bank

Regulatory Watch News

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  Illegal Activities of an Art Studio in Minsk Suppressed Involving Tax Evasion and «Enveloped» Salary Payments

  EAG

  August 25, 2026

  The regional office of the Financial Investigation Department of the State Control Committee of the Republic of Belarus has identified and suppressed illegal activities of an art studio providing architectural design and interior design services for real estate projects located both in the Republic of Belarus and abroad. It has been established that during the period from 2022 to 2025, the company failed to fully reflect in its accounting records the funds received from the provision of architectural and design services. In total, more than 15 million belarusian rubles was concealed from taxation. These funds were used by the owners of the art studio for personal purposes, including the acquisition of high-value real estate in Belarus and abroad, as well as luxury vehicles.

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  AML Handbook Updates

  Isle of Man Financial Services Authority

  August 25, 2026

  The Isle of Man Financial Services Authority (the Authority) has made some updates to its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook (the Handbook).   Revisions include, but are not limited to:  

  • Updated guidance on De-risking.
  • Guidance added around Complex Structures
  • Guidance added around High-Net Worth Individuals
  • Additional guidance added around Source of Funds and Source of Wealth
  • Additional guidance added around ECDD
  • Additional guidance added around Commercially Exposed Persons
  • New chapter created for Sanctions Compliance guidance

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  58 arrests in global effort to dismantle West African organized crime groups

  Interpol

  August 25, 2026

  LYON, France – An eight-month operation targeting West African organized crime groups has led to 58 arrests and the identification of 263 suspects. Operation Jackal IV (November 2025 – June 2026) aimed to disrupt money laundering, identify high-value targets, seize assets, and support arrests and prosecution. The operation, which brought together 22 countries from six continents, is a response to the escalating global threat posed by West African criminal networks – such as the Black Axe and other similar groups. These groups are responsible for a significant share of the world's cyber-enabled financial fraud, typically through romance scams, cryptocurrency and investment scams or business email compromise fraud, as well as other serious and violent crimes.