AML | Certain Risk

A smiling Scott Bessent sitting between a frowning Marco Rubio and Pete Hegseth.

Treasury Seeks ‘Gatekeeper’ Role in AML Penalties

The Trump administration is moving to give the U.S. Treasury Department’s financial intelligence unit a decisive say over how banks are punished for anti–money-laundering (AML) failures, according to new reporting by The Wall Street Journal.

Football match between Banfield and Platense. Players are on the pitch. — Image credit: Adapted from “The Estadio Florencio Sola during a match between Banfield and Platense (2023)” by Vincenzo.togni, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:The_Estadio_Florencio_Sola_during_a_match_between_Banfield_and_Platense_(2023).jpg, licensed under Creative Commons Attribution 4.0 International (CC BY 4.0). Changes were made.

Argentine Police Raid Football Association and Dozens of Clubs in Dirty-Money Probe

Federal police raided the headquarters of the Argentine Football Association (AFA) and more than 30 soccer clubs as part of an investigation into alleged money laundering involving a key sponsor of the game, CNN said.

Oil painting of a smiling Cesar Duarte Jaquez. — Image credit: Adapted from “César Duarte Jáquez.jpg” by Gobernadores Chihuahua, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:C%C3%A9sar_Duarte_J%C3%A1quez.jpg, licensed under Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA 4.0). Changes were made.

Mexico Ex-Governor Duarte Expected to Face Money Laundering Charges

Mexican federal authorities have taken former Chihuahua governor César Duarte back into custody, preparing to charge him with laundering public funds allegedly diverted while he was in office, according to the Associated Press.

Foreign Secretary David Lammy speaking to the press in from of a sign reading "NCA: National Crime Agency" — Image credit: “2025 07 22 Foreign Secretary David Lammy at NCA, London, with DG Rob Jones (54671721188)” by Foreign, Commonwealth & Development Office, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:2025_07_22_Foreign_Secretary_David_Lammy_at_NCA,_London,_with_DG_Rob_Jones_(54671721188).jpg, licensed under Creative Commons Attribution 4.0 International (CC BY 4.0).

UK to Take on Dirty Money with AI, Facilitator Crackdown

The UK government is taking aim at corrupt bankers, lawyers, and accountants and deploying new tech tools to identify dirty money as part of a new strategy to root out tens of billions in illicit funds entering the country each year.

Western Union Money Transfer sign. — mage credit: Adapted from “Western Union Money Transfer – a conduit for remittances” by Richard Allaway, via Flickr, https://www.flickr.com/photos/16287002@N00/6845522191, licensed under CC BY 2.0 (https://creativecommons.org/licenses/by/2.0/). Changes were made.

In U.S. Migrant Crackdown, a Renewed Focus on Cross-Border Remittances

The United States is tightening its oversight of the tens of billions of dollars resident and undocumented migrants send home each year through Western Union, MoneyGram, and other money services businesses (MSBs), according to a recent U.S. Treasury Department warning.

Man holding a variety of Nigerian banknotes.

Nigeria to Tighten Bank Cash Withdrawal Limits

Nigeria’s central bank has unveiled sweeping new cash withdrawal limits and related rule changes aimed at curbing cash dependence and reducing security and money-laundering risks, according to Reuters.

Exterior plaza of People's Bank of China — Image credit: Adapted from “People's Bank of China 20160428 092840” by David290, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:People%27s_Bank_of_China_20160428_092840.jpg, licensed under Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA 4.0). Changes were made.

China Signals Crypto Crackdown, Flags Stablecoins

China’s central bank has restated its hard line on cryptocurrencies, warning that a renewed wave of speculation is testing regulators and vowing tougher action against illegal activities involving stablecoins, according to Reuters.

UBS office building against blue sky. — Image credit: Adapted from “UBS (54815259662)” by Ajay Suresh, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:UBS_(54815259662).jpg, licensed under CC BY 4.0. Changes were made.

UBS and Credit Suisse Compliance Officer Face Charges Over Mozambique Bonds Scandal

Switzerland’s attorney general has filed criminal charges against UBS and a former Credit Suisse compliance officer, alleging failures to prevent money laundering linked to the long-running Mozambique “tuna bonds” scandal, according to The Wall Street Journal.

FCA to Overhaul Transaction Reporting

The UK’s Financial Conduct Authority (FCA) has launched a consultation to overhaul the country’s transaction reporting regime, promising both stronger tools to combat financial crime and a lighter reporting burden for firms.

Exterior shot of Standard Chartered headquarters in London. — Adapted from: Shkuru Afshar, Standard Chartered headquarters in London – Front view, via Wikimedia Commons, 9 May 2023, CC BY-SA 4.0. Changes were made.

Singapore Court Okays $2.7-Billion Lawsuit Against Standard Chartered for 1MDB Role

A Singapore court has allowed a $2.7-billion lawsuit against Standard Chartered Bank to proceed over its alleged role in the looting of Malaysia’s 1MDB sovereign fund, according to Reuters.