AML | Certain Risk

Exterior shot of a TD Bank branch. "Let's invest in you."

How Poor AML Controls Can Turn Even a Teller into a Prolific Money Launderer

A recent guilty plea by a former TD Bank teller who helped move millions in suspicious funds through the U.S. banking system is an illustration of how easily things can go wrong when frontline staff face few internal anti-money laundering (AML) controls, according to a new report by the American Banker.

Photo of a sign in Venezuela for the oil company PDVSA. — “PDVSA 5 de Julio” by Wilfredor (2009), Wikimedia Commons, licensed under CC BY-SA 3.0. Edited from the original. Source: https://commons.wikimedia.org/wiki/File:PDVSA_5_de_Julio.jpg License: https://creativecommons.org/licenses/by-sa/3.0/

Secret Audio Recording Catches Launderers Discussing How to Hide PDVSA Loot

Secret audio recorded in Madrid in 2017 captures “shadow bankers” laying out a plan to launder millions of dollars tied to corruption at Venezuela’s state oil company, including a proposed bond swap designed to evade anti-money laundering controls

Photo of Deutsche Bank's headquarters in Frankfurt, Germany. — “FRA Deutsche Bank.jpg” — Nordenfan, via Wikimedia Commons — CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/) — Source: https://commons.wikimedia.org/wiki/File:FRA_Deutsche_Bank.jpg

Deutsche Bank Raid Focused on Same Years as Earlier BVI Probe

German authorities raided Deutsche Bank’s headquarters in Frankfurt and a separate office in Berlin as part of a money-laundering investigation linked to Russian billionaire Roman Abramovich.

Banco Santander, Punta Arenas at the south corner of Plaza Muñoz Gamero (also known as Plaza de Armas) at the junction of Avenidas 21 de Mayo and Pantano. — Robert Cutts, “Banco Santander, Punta Arenas” (2015), Flickr, CC BY-SA 2.0, https://www.flickr.com/photos/panr/17020952200/ (edited from the original: cropped and text/graphics added). License: https://creativecommons.org/licenses/by-sa/2.0/

Santander Fined Over €40mn for AML Violations at Digital Unit

Banco Santander has been fined more than €40 million by Spain’s anti-money laundering (AML) watchdog Sepblac for past shortcomings in internal processes at its digital unit.

Groundbreaking ceremony of a new hanger at the Pleasanton Airport in Pleasanton Texas, on May 28, 2025. The Master of Ceremonies is Ernie Gonzalez, Jr., and the speakers include Pleasanton City Manager Johnny Huizar, Pleasanton Airport Director J.J. Roberts, Cope Engineering Vice President Brian M. Cope, P.E., U.S. Department of Agriculture (USDA) Rural Development (RD) Community Programs Director in Texas Michael Canales, U.S. Congressman Henry Cuellar, and Pleasanton Mayor J.R. Gallegos. After speaking they took part in the groundbreaking ceremony. In 2022 U.S. Congressman Henry Cuellar (TX-28) announced $1,061,000 in federal funding for the construction of two additional hangars at the Pleasanton Municipal Airport. The hangars will meet the growing aviation storage demand required by recreational and commercial customers as well as providing storage space for the local Air Life helicopter's support teams. Congressman Henry Cuellar said “Investments into rural communities and local infrastructure projects like these have far-reaching economic impacts and benefits. I applaud the City of Pleasanton and its leadership for taking advantage of the available federal funding opportunities and I look forward to continue working with them.” “We are very excited about this new addition to the city’s airport,” said Pleasanton City Manager Johnny Huizar. “These new airport hangars will fund themselves with revenue generated from aircraft lease fees.” The financed amount was later increased by $656,000 for a current total of $1,717,000. The funds were awarded through the United States Department of Agriculture’s USDA's Community Facilities Direct Loan and Grant Program. More than 100 types of projects are eligible for Community Facilities funding. Eligible applicants include municipalities, public bodies, nonprofit organizations and federally recognized Native American tribes. Projects must be in rural areas. USDA Media by Lance Cheung.

Brother of U.S. Rep. Henry Cuellar Hit with Federal Fraud Charges

A Texas sheriff who is the brother of U.S. Representative Henry Cuellar is facing federal fraud charges following allegations that he ran a fraudulent business using public funds and staff during the Covid-19 pandemic, The Texas Tribune reported.

Jack Zhang, Chief Executive Officer and Co-Founder, Airwallex, Australia speaking in the Start-Ups in Austerity session at the World Economic Forum Annual Meeting 2023 in Davos-Klosters, Switzerland, 20 January. Congress Centre — Jack Zhang, Chief Executive Officer and Co-Founder, Airwallex, Attribution (CC-compliant): “World Economic Forum Annual Meeting” by World Economic Forum (credit: World Economic Forum/Sikarin Fon Thanachaiary), licensed under Creative Commons Attribution–NonCommercial–ShareAlike 2.0 (CC BY-NC-SA 2.0).

Airwallex Faces AML Audit over Concerns of Child Sex Abuse Funding

Australia’s financial intelligence unit has ordered Singapore-based Airwallex to review whether the payments giant has violated the nation’s anti-money laundering (AML) laws.

Photo of Nelson Tanure standing in front of a bookcase. — Marco Antonio Lima Santos (2022-01-26). “Tanure.am4 (1 de 1).png.” Wikimedia Commons. Licensed under CC BY-SA 4.0. Adapted from the original (edits: [briefly describe your changes]). Source: https://commons.wikimedia.org/wiki/File:Tanure.am4_(1_de_1).png License: https://creativecommons.org/licenses/by-sa/4.0/

Brazil Justice Freezes Nelson Tanure’s Assets in Banco Master Investigation

Brazil’s Supreme Court has ordered the assets of veteran entrepreneur Nelson Tanure to be frozen as part of an investigation into failed lender Banco Master SA, according to a January 6th decision seen by Bloomberg.

U.S. Virgin Islands, Department of Justice, Sexual Offender Registry Photograph of Jeffrey Epstein, edited

Senator Seeks Info on $378mn in BNY Wire Transfers Tied to Epstein

Sen. Ron Wyden, the top Democrat on the Senate Finance Committee, is pressing Bank of New York Mellon Corp. for details about $378 million in wire transfers the bank processed involving accounts linked to Jeffrey Epstein, according to a Bloomberg report.

Photograph of The Swedbank office building in Tartu, Estonia, on 18 July 2024. — “Swedbank in Tartu Estonia” by Tony Webster, Flickr (https://www.flickr.com/photos/diversey/54584627298/), licensed under CC BY 2.0 (https://creativecommons.org/licenses/by/2.0/).

U.S. Justice Department Closes Swedbank Case without Enforcement

The U.S. Department of Justice has closed its anti-money laundering (AML) investigation into Swedbank AG without bringing an enforcement action, according to the Swiss lender.

Photo of the CaixaBank building, Barcelona — Jordiferrer, “Torre de CaixaBank” (8 October 2011), Wikimedia Commons, CC BY-SA 3.0. Source: https://commons.wikimedia.org/wiki/File:Torre_de_CaixaBank.jpg License: https://creativecommons.org/licenses/by-sa/3.0/ Edits: cropped and overlaid text/graphics.

Spain’s AML Watchdog Fines CaixaBank €30mn over Real-Estate Deal

CaixaBank has been hit with several fines totaling more than €30 million by Spain’s anti-money laundering watchdog, Sepblac, over a legacy real-estate transaction.