AML

The former chairman of the board at Puerto Rico–based Nodus International Bank, pleaded guilty to conspiracy to commit wire fraud for his role in a $13.6-million scheme that contributed to the institution’s 2023 collapse. 

The former executive director of Ronald McDonald House Charities of Marshfield, Wisconsin, has been charged with taking over $100,000 from the nonprofit.

The UK art market is coming under sharper scrutiny from HM Revenue & Customs (HMRC), which has intensified enforcement of anti–money laundering rules.

Canada’s anti–money laundering watchdog has levied a C$19.5 million penalty against crypto exchange KuCoin for violations of the country’s AML rules.

Swiss lawmakers are seeking to dilute key government proposals aimed at combating financial crime, arguing that stricter regulations threaten the country’s dominance in the global wealth management sector, according to Reuters. 

The Federal Reserve terminated a 2019 enforcement action against Sumitomo Mitsui Banking Corp. (SMBC), concluding a six-year period of heightened scrutiny over the institution’s anti-money laundering (AML) practices. 

Mexico’s attorney general has vowed to issue more arrest warrants—potentially targeting government officials—in connection with sprawling fuel theft operations that siphon billions of dollars from the country.

JPMorgan Chase processed more than $1.1 billion in transactions for Jeffrey Epstein over a 15-year period, despite repeated anti-money laundering (AML) red flags raised internally, according to an investigative report by The New York Times. 

Jersey authorities are investigating Russian billionaire Roman Abramovich in connection with suspected money laundering and possible sanctions violations, according to Swiss court judgments issued in May.

The U.S. Securities and Exchange Commission has officially closed its 6-year investigation into Swedbank’s anti-money laundering (AML) efforts without imposing an enforcement action.