How a Binance Vendor Opened a Backdoor for Iran’s Sanctions Evasion
Binance failed for months to cut ties with a payment-processing vendor despite a series of red flags that pointed to possible sanctions evasion and money laundering involving transfers later linked to Iran.
U.S. Adds Terrorism Charges to Drug Case Linked to FTO-Designated Cartel
Two Chinese pharmaceutical firms and six Chinese nationals are facing charges after prosecutors said they were part of a drug-trafficking network that provided material support to the Cártel del Golfo (CDG), a Mexican criminal syndicate that was designated as a foreign terrorist organization.
FCA Defends Hiring Palantir to Fight Financial Crime
Britain’s Financial Conduct Authority (FCA) defended its decision to award a short-term artificial intelligence contract to Palantir Technologies on Tuesday, telling lawmakers the U.S. firm would not have access to regulatory intelligence as concerns mounted over sensitive data and the growing reach of major technology providers in government.
U.S. Blacklists Network Accused of Diverting Over $100 Million to Hezbollah
The U.S. Treasury Department said on Friday it had imposed sanctions on an international network of 16 people and companies that allegedly diverted more than $100 million to Hezbollah since 2020.
Switzerland Approves Strategy to Fight Dirty Money and Terror Finance
Switzerland has approved its first comprehensive national strategy for fighting money laundering and terrorist financing, the country’s Federal Council announced Friday.
AMLA Launches Initiative to Calibrate Risk Assessments
The EU’s Anti-Money Laundering Authority (AMLA) has launched a data-collection exercise to test and calibrate risk-assessment models that will be used in 2027 to choose up to 40 financial institutions for direct AMLA supervision starting in 2028.
Singapore Warns on Money-Laundering Risks of Variable Capital Companies
Singapore’s financial regulator has warned fund managers that a popular low-tax investment structure introduced to attract offshore capital could be exploited for money laundering.
Binance Flagged ‘Chinese Nexus’ in Web of Illicit Iranian Payments
Binance internal investigators identified VIP accounts they said helped channel more than $1 billion to wallets tied to Iran-linked entities, including one account registered to a 79-year-old Chinese resident and another linked to a suspected Iranian gold smuggler.
OFAC Targets Hamas-Linked Charities, DPRK-Linked IT Worker Schemes
The U.S. Treasury Department on Thursday announced two new sanctions actions targeting financing and revenue-generation networks tied to Hamas and the Democratic People’s Republic of Korea.
Halkbank Granted 90-Day Stay in U.S. Criminal Case Amid DPA Talks
A federal judge in Manhattan on Wednesday granted a 90-day pause in the criminal case against Turkey’s state-run Halkbank, a first step toward a possible dismissal of charges that the bank helped launder billions of dollars in Iranian oil and gas proceeds.