Illicit Finance | Certain Risk

Physical representation of the crypto coin, Tether.

Tether to Launch New Stablecoin for U.S. Market

Tether, the issuer of the world’s largest stablecoin USDT, announced plans to launch a new U.S.-based stablecoin called USAT.

Georgian Defense Minister Juansher Burchuladze — Juansher Burchuladze at a bilateral exchange at the Pentagon, Washington, D.C., February 9, 2023 (cropped, edited). Photo by U.S. Department of Defense / DVIDS. Licensed under Creative Commons BY 4.0. Source: Wikimedia Commons

Georgia’s Ex-Defense Minister Detained for Money Laundering, Abuse of Office

Georgia’s ex‑Defense Minister Juansher Burchuladze has been arrested on charges of money laundering and abuse of power, OCCRP said.

Yvette Cooper speaking at a press conference — Day 1: Home Secretary Yvette Cooper at Home Office (Photo by UK Home Office, 2024) [Photograph]. Licensed under CC BY 2.0. Wikimedia Commons. Source: Wikimedia Commons

UK Sanctions Target Russia’s Shadow Fleet and Weapons Programs

The United Kingdom imposed a new package of 100 sanctions aimed at curbing Russia’s ability to finance and sustain its war against Ukraine.

Swiss Parliament foregrounded against the Swiss flag.

Citing Competition, Swiss Lawmakers Push Back on Proposed AML Law

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.

US Senator John Thune behind a podium at a press conference. — John Thune. Photo by the U.S. Senate, taken in 2024. Licensed under CC BY 2.0. Source: Wikimedia Commons

GOP Senators Signal Greater Support for New Russia Sanctions

Republican lawmakers are intensifying calls for President Donald Trump to impose sweeping sanctions on Moscow following the recent incursion of Russian drones into Polish airspace.

Vladimir Putin taking with Xi Jinping — Ministry of Foreign Affairs of the Russian Federation, Xi Jinping and Vladimir Putin walking at Zhongnanhai (2025), 21 May 2025. Licensed under CC BY 4.0. Source: Wikimedia Commons.

EU Weighs Sanctions on Chinese Refineries Linked to Russia

The European Commission is preparing to target several independent Chinese refineries in its forthcoming sanctions package against Russia, Reuters reported, citing unnamed EU officials.

Sumitomo Mitsui Banking Corporation office tower. — J o. Photograph of the SMBC Kobe Office Building. 20 Nov. 2009. Wikimedia Commons, CC BY‑SA 3.0. Edited version.

Fed Terminates AML Order against SMBC

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.

Pemex gas station — Case, D. (2015, July 20). Pemex station near Basilica of Our Lady of Guadalupe Basilica, Mexico City [Photograph]. Wikimedia Commons. Licensed under CC BY‑SA 3.0. Source: Wikimedia Commons, edited

Mexico Launches Crackdown on Cross-Border Fuel Theft

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 Ignored Years of Epstein Red Flags: NYT

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 probes Roman Abramovich for suspected money laundering, sanctions breaches

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.