The latest Financial Action Task Force (FATF) update underscores a rapidly shifting global landscape for anti money laundering, counter terrorist financing, and counter proliferation finance compliance. FinCEN has urged financial institutions to reassess their risk exposure in light of FATF’s revised lists, with particular emphasis on continued countermeasures against Iran and the DPRK. The October FATF plenary removed Burkina Faso, Mozambique, Nigeria, and South Africa from

The indictment of South Florida Congresswoman Sheila Cherfilus McCormick presents a significant financial crime case involving the alleged theft of $5 million in FEMA disaster relief funds. Prosecutors claim the congresswoman and several co defendants engaged in a multi layered scheme involving fraud, money laundering, and illegal campaign contributions, all linked to Covid 19 emergency funding. The allegations highlight the ongoing risks of financial crime within public sect

The return of alleged drug trafficker Zhi Dong Zhang to the United States marks a significant escalation in the Justice Department’s global campaign against high level narcotics syndicates and transnational money laundering networks. Zhang, widely known by multiple aliases including Brother Wang, is accused of directing a sprawling criminal enterprise responsible for moving large volumes of cocaine, methamphetamine, and fentanyl across Mexico and the United States while laund

Four California residents have been sentenced for orchestrating an extensive hospice fraud and money laundering operation that extracted nearly $16 million from Medicare. The case highlights the continuing threat of organised health care fraud in the United States and reinforces the Justice Department’s commitment to pursuing those who exploit vulnerable patients and critical public health programmes. On 18 November 2025, the Justice Department confirmed the most recent sente

The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has taken decisive action to disrupt the financial flows supporting the Sinaloa Cartel by identifying transactions involving ten Mexico-based gambling establishments as being of primary money laundering concern. Published on 13 November 2025, the finding and accompanying Notice of Proposed Rulemaking (NPRM) represents a significant escalation in efforts to sever criminal organisations’ access to

It has been little more than a month since United States President Donald Trump pardoned Changpeng Zhao, the former chief executive of Binance. Zhao, better known as CZ, had pleaded guilty in 2023 to enabling money laundering through the world’s largest cryptocurrency exchange. He served four months in prison, paid a substantial fine, and agreed to step down as CEO. The case was described by the US Department of Justice as a landmark in crypto enforcement. Yet, during an int

The term narco-terrorism, once an academic and counter-terrorism buzzword, has entered the mainstream of United States criminal justice and political discourse. Its resurgence is not coincidental. On 13 May 2025, the Department of Justice (DoJ) unsealed a sweeping indictment against multiple leaders of the Sinaloa Cartel , charging them with narco-terrorism, material support of terrorism, and drug trafficking. This landmark case marks the first time such charges have been app

The European Banking Authority’s (EBA) response to the European Commission’s Call for Advice marks a pivotal step towards establishing the European Union’s new anti-money laundering and countering the financing of terrorism (AML/CFT) regime. Published on 30 October 2025, the EBA’s recommendations aim to ensure that the future Anti-Money Laundering Authority (AMLA) launches on a strong, risk-based foundation. At the heart of the EBA’s advice lies a clear intention to create a

The European Banking Authority (EBA) has published its fifth and final Report on the Functioning of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Colleges , finding that the framework has become an effective tool for improving information exchange and strengthening AML/CFT supervision across the European Union. However, the EBA noted that one of the key objectives of the system remains unfulfilled — the ability to address issues affecting multiple

For more than a decade, challenger banks have styled themselves as the antidote to a stagnant, fee-ridden and tech-deficient banking...

The European Banking Authority (EBA) has today released its annual Report on the convergence of supervisory practices for 2024 across the European Union. The Report highlights the EBA’s sustained efforts to strengthen supervisory alignment among Member States, covering prudential supervision, resolution, consumer protection, digital finance, and—until the end of 2025—anti-money laundering and countering the financing of terrorism (AML/CFT). This year’s Report marks the first

The European Banking Authority (EBA) has published a comprehensive report calling on supervisors across the EU to draw lessons from...