United States Surpasses Switzerland as Top Hub for Corrupt Financial Transactions, UK University Report Finds
The United States has overtaken Switzerland as the preferred hub for corrupt financial transactions, according to a new report from the...
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Flexi Group
Aug 212 min read
German Authorities Seize 13 Crypto ATMs in Major AML Operation
German authorities conducted a significant anti-money laundering (AML) operation on Tuesday, seizing 13 crypto ATMs where Bitcoin and...
663 views0 comments
Flexi Group
Aug 203 min read
SEC Fines OTC Link $1.19 Million for AML Failures: Key Takeaways for Financial Firms
The U.S. Securities and Exchange Commission (SEC) recently issued a notice to OTC Link, slapping the company with a $1.19 million fine...
911 views0 comments
Flexi Group
Aug 192 min read
U.K. Financial Firms Face Scrutiny Over Inconsistent Implementation of PEP Guidelines, Warns FCA
The U.K. Financial Conduct Authority (FCA) has raised concerns over the inconsistent application of its guidance on politically exposed...
679 views0 comments
Flexi Group
Aug 142 min read
BVI to Restrict Access to Beneficial Ownership Register with 'Legitimate Interest Test'
The British Virgin Islands (BVI) has announced that access to its beneficial ownership register will be restricted to those who can pass...
1,555 views0 comments
Flexi Group
Aug 132 min read
FATF Urges India to Tighten Scrutiny on Domestic Politicians and Officials' Bank Accounts
The Financial Action Task Force (FATF) has recommended that India enhance its due diligence practices concerning the bank accounts of...
902 views0 comments
Flexi Group
Aug 122 min read
U.S. Federal Reserve Takes Enforcement Action Against Crypto-Friendly Customers Bank for Risk Management Deficiencies
The U.S. Federal Reserve has issued an enforcement action against Customers Bank, a Pennsylvania-based financial institution known for...
687 views0 comments
Flexi Group
Aug 92 min read
UNODC Alarms on Growing Cyber Fraud in Southeast Asia Linked to Gaming Industry
In a recent meeting in Bangkok, the United Nations Office on Drugs and Crime (UNODC) raised alarms about the convergence of...
1,290 views0 comments
Flexi Group
Aug 82 min read
Edward Scicluna Steps Down from Key AML Role Amid Fraud Scandal
Edward Scicluna, Malta’s central bank governor, has suspended himself from his position amid a fraud scandal and has also resigned from a...
974 views0 comments
Flexi Group
Aug 72 min read
Singapore Passes Ground-breaking Anti-Money Laundering Bill to Tighten Financial Oversight
In a significant move to bolster its anti-money laundering (AML) framework, Singapore has enacted the Anti-Money Laundering and Other...
753 views0 comments
Flexi Group
Aug 62 min read
FINTRAC Issues Warning on Laundering Tax Evasion Proceeds Through Real Estate
FINTRAC, Canada’s Financial Intelligence Unit (FIU), has issued a stern warning to financial institutions, emphasizing the importance of...
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Flexi Group
Aug 52 min read
UK Establishes New AML Investigative Cells Funded by Economic Crime Levy
Two of the UK’s leading state corporate entities will create new Anti-Money Laundering (AML) investigative "cells" using dedicated funds...
605 views0 comments
Flexi Group
Aug 21 min read
Malta Central Bank Governor Edward Scicluna Suspends Duties Amid Court Case
Malta Central Bank Governor Edward Scicluna has temporarily suspended himself from his role pending the outcome of a court case related...
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Flexi Group
Aug 13 min read
FINMA Scrutinizes UBS’s Vetting of Risky Credit Suisse Clients Amid Integration Efforts
Switzerland’s financial supervisor, FINMA, has been closely examining how UBS vets high-risk wealthy clients from Credit Suisse as part...
3,844 views0 comments
Flexi Group
Jul 312 min read
Rise in Finance Firms Testing AI for Compliance and Risk Management, Moody's Study Reveals
A growing number of finance firms are exploring the use of AI for compliance and risk management, according to a recent study by Moody's....
643 views0 comments
Flexi Group
Jul 302 min read
Russian Billionaire Petr Aven’s Estate Forfeits £784,000 in Landmark NCA Investigation
In a landmark decision, the estate of Russian billionaire Petr Aven has agreed to forfeit £784,000 following a milestone investigation by...
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Flexi Group
Jul 294 min read
UK Banks Collaborate with NCA in Major Anti-Financial Crime Initiative
In a groundbreaking initiative, seven major UK banks, including Barclays, NatWest, and Lloyds, have begun sharing financial crime data...
19 views0 comments
Flexi Group
Jul 262 min read
Coinbase Fined £3.5 Million by UK’s FCA for Lax Money Laundering Controls
Coinbase, one of the largest cryptocurrency exchanges globally, has been fined £3.5 million ($4.5 million) by the UK's Financial Conduct...
2,243 views0 comments
Flexi Group
Jul 252 min read
MONEYVAL Commends Jersey's AML Efforts, Urges Greater Focus on Practical Enforcement
MONEYVAL has given Jersey a broadly positive review in its latest in-depth assessment, indicating that the British Crown Dependency has...
561 views0 comments
Flexi Group
Jul 242 min read
New Beneficial Ownership Reporting Requirements to Cost U.S. Financial Institutions $200 Million Annually
New beneficial ownership reporting requirements are projected to cost U.S. financial institutions around $200 million per year once fully...
538 views0 comments
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