A UK-registered company now sits on the US sanctions list. Cucumber Sweet Waves Ltd is among nine entities blocked by the Office of Foreign Assets Control (OFAC) in a coordinated action against the fuel-smuggling network of Cartel de Jalisco Nueva Generacion (CJNG), issued alongside a supplemental Financial Crimes Enforcement Network (FinCEN) Alert on the laundering typologies that sustain it. For UK institutions, the British nexus is the immediate point of exposure: any coun

The United States Department of the Treasury (Treasury) has expanded its campaign against the Prince Group Transnational Criminal Organization (Prince Group TCO), with the Office of Foreign Assets Control (OFAC) designating nine individuals and 26 entities, while the Financial Crimes Enforcement Network (FinCEN) moved to extend an existing special measure to capture an alleged successor entity. The OFAC designations, made under Executive Order 13581 as amended, target Prince

The Financial Crimes Enforcement Network (FinCEN), acting jointly with the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (the Board), the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA), has issued a notice of proposed rulemaking implementing the customer identification program (CIP) provisions of the Guiding and Establishing National Innovation for US Stablecoins Act (GEN

The US Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has issued an advisory setting out typologies and red flag indicators for financial institutions to detect and report payroll tax fraud, identity theft and money laundering linked to unauthorised employment schemes. The advisory, issued jointly with the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the National Credit Union Administration (

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

FinCEN’s Rapid Response Programme has now helped interdict more than $1.8 billion in stolen funds for US victims of cyber-enabled fraud, underlining the growing importance of rapid cross-border financial intelligence sharing in tackling digital crime. According to FinCEN, more than $268 million has been interdicted since President Trump resumed office. The programme works by enabling FinCEN to share financial intelligence quickly with foreign financial intelligence units and

The Department of Justice has sentenced two US nationals for facilitating a fraudulent remote IT worker scheme that generated more than $5 million in illicit revenue for the Democratic People’s Republic of Korea, underlining the growing national security risk posed by DPRK cyber-enabled revenue operations. Kejia Wang, 42, of Edison, New Jersey, was sentenced to 108 months in prison, while Zhenxing Wang, 39, of New Brunswick, New Jersey, received a 92-month sentence. Both men

FinCEN’s proposed whistleblower rule is a meaningful regulatory development rather than a routine press announcement. Although the statutory framework has been in place since the Anti-Money Laundering Act 2020 and the 2022 improvement legislation, the new Notice of Proposed Rulemaking is the step that begins to turn those powers into a functioning award and protection regime with defined procedures, eligibility rules and adjudication mechanics. The proposal was published in t

FinCEN has sharpened its focus on health care fraud with a new Advisory warning financial institutions about increasingly sophisticated schemes targeting Medicare, Medicaid and other government health care benefit programmes. Released on 30 March 2026, the Treasury measure frames health care fraud not simply as a billing abuse issue, but as a money laundering and national security concern involving organised crime groups and transnational criminal organisations. The Advisory

The Financial Crimes Enforcement Network (FinCEN) has imposed an $80m civil money penalty on broker-dealer Canaccord Genuity LLC for willful violations of the Bank Secrecy Act (BSA), marking the largest enforcement action ever taken against a broker-dealer under the anti-money laundering (AML) framework. According to the U.S Department of the Treasury, Canaccord failed to implement and maintain an effective AML programme, conduct appropriate customer due diligence (CDD), and

The Financial Action Task Force (FATF) has updated its global lists of jurisdictions with strategic deficiencies in anti-money laundering, combating the financing of terrorism and counter-proliferation finance (AML/CFT/CPF), prompting the U.S Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) to alert financial institutions to the changes. Following its February plenary meeting, FATF added Kuwait and Papua New Guinea to its list of jurisdictions under

The US Department of the Treasury has moved to sever Swiss lender MBaer Merchant Bank AG from the US financial system, citing its alleged role in facilitating illicit finance linked to Iran and Russia. In a notice of proposed rulemaking published on 26 February 2026, the Financial Crimes Enforcement Network (FinCEN) set out plans that would prohibit covered US financial institutions from opening or maintaining correspondent accounts for, or on behalf of, MBaer. The proposed a