On 11 March 2026, the Prudential Regulation Authority (PRA) lifted the restrictions on Revolut's UK banking licence, granting Revolut Bank UK Ltd full authorisation to operate as a bank in its home market. The announcement ended an application process that had begun in January 2021 and had, over the intervening five years, become a case study in the regulatory difficulty of licensing a global-scale neobank. Yet the granting of the licence does not draw a line under Revolut's

The Financial Crimes Enforcement Network (FinCEN) has issued a 60 day notice inviting public comment on the renewal of the Office of Management and Budget control number covering the Registration of Money Services Business (RMSB) framework. Published on 30 April 2026, the notice relates to requirements set out in 31 CFR 1022.380 and the continued use of FinCEN Form 107. The RMSB regime forms a core part of the Bank Secrecy Act compliance architecture in the United States, req

A federal jury has convicted Afghan national Mohammad Sharifullah for his role in a nine-year conspiracy to provide material support and resources to ISIS-K, a designated foreign terrorist organisation. The conviction centres on Sharifullah’s involvement in multiple ISIS-K operations, including the 26 August 2021 Abbey Gate bombing at Hamid Karzai International Airport in Kabul. The attack killed 13 US military service members and approximately 160 civilians during the evacua

When the United Nations Security Council first imposed comprehensive sanctions against North Korea in 2006, the expectation was straightforward. Financial isolation would constrain a rogue state’s capacity to fund weapons proliferation. Two decades on, the US Treasury, the European Union and the UK have built an extensive sanctions architecture spanning asset freezes, trade restrictions, sectoral prohibitions and secondary designation powers. Yet the very sophistication of th

The FCA has intensified its campaign against illegal finfluencers, leading a co-ordinated international week of action involving 17 regulators across major financial centres. The initiative, which began on 20 April 2026, targeted social media personalities and unauthorised firms using online platforms to promote financial products unlawfully and expose consumers to scams. In the UK, the FCA’s action included securing a guilty plea from Geordie Shore’s Aaron Chalmers for illeg

The US Department of Justice (DOJ) has sentenced Queens pharmacy owner Taesung “Terry” Kim to 63 months in prison for conspiring to launder proceeds from a $24.4 million pharmacy fraud scheme. The case is a significant health care fraud enforcement action involving medically unnecessary prescriptions, kickbacks, bribes and the laundering of proceeds through trading companies. According to court documents, Kim co-owned several retail pharmacies in Brooklyn and Queens, New York

The Department for Business and Trade has introduced new Sanctions End-Use Controls (SEUC), marking a significant escalation in the UK’s efforts to prevent the circumvention of trade sanctions. Published on 22 April 2026, the guidance clarifies how exporters must respond where there is a credible risk that goods routed through third countries could ultimately reach sanctioned jurisdictions or individuals. At its core, SEUC creates a targeted licensing mechanism. Unlike tradit

The forthcoming Sanctions EU Exit Miscellaneous Amendments Regulations 2026 introduce a series of targeted but operationally significant changes to the UK sanctions framework. While largely technical in nature, the reforms are clearly designed to streamline compliance obligations, remove inconsistencies and enhance the flexibility of the Office of Financial Sanctions Implementation OFSI. A notable change is the shift from euro denominated thresholds to pound sterling across r

The Financial Conduct Authority (FCA) has escalated its enforcement stance on cryptoassets, launching its first coordinated crackdown on illegal peer to peer crypto trading operations in the UK. Announced on 22 April 2026, the action signals a more assertive regulatory approach to decentralised trading models that fall outside traditional supervisory frameworks. The operation, conducted alongside HM Revenue & Customs (HMRC) and the South West Regional Organised Crime Unit (SW

The US Department of Justice (DOJ) has filed a civil forfeiture complaint seeking to seize a Beverly Hills mansion allegedly purchased and renovated with around $30 million in proceeds from a defence procurement fraud, foreign bribery and money laundering scheme. The complaint, filed in the US District Court for the Central District of California on 22 April 2026, alleges that a Virginia-based defence contractor and others obtained more than $700 million from the US Departmen

A United States cybersecurity professional has pleaded guilty to participating in a ransomware conspiracy, in a case that underscores the growing threat of insider risk within the cyber incident response ecosystem. The Department of Justice confirmed that Angelo Martino, a former ransomware negotiator, conspired with BlackCat ALPHV operators to both facilitate and execute attacks against U.S. organisations in 2023. According to court filings, Martino exploited his position at

The UK government has confirmed its intention to abolish the Payment Systems Regulator (PSR) and consolidate its functions within the Financial Conduct Authority (FCA), marking a significant structural shift in the oversight of payment systems. The consultation outcome, published on 21 April 2026, signals broad industry support for a more unified regulatory framework, but also highlights execution risks that will determine whether the reform delivers meaningful efficiency gai