FINMA Finalises AML Ordinance Revision, Effective 1 January
FINMA has published the final partial revision of its Anti-Money Laundering Ordinance, with the changes due to take effect on 1 January 2027.
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EPPO Targets Alleged €100 Million Luxury-Car VAT Fraud Network
The European Public Prosecutor’s Office said searches and arrests targeted an alleged cross-border VAT fraud network linked to luxury-car sales. Estimated losses are €100 million.
Read developmentU.S. Sentence Highlights Crypto and Account-Based Laundering Network
A Venezuelan national received a 12-year prison sentence for conspiracy to launder money and agreed to a $1 billion money judgment, the U.S. Department of Justice said. Court documents describe a network using cryptocurrency wallets, exchanges, bank accounts, liquidity providers, and shell companies.
Read developmentGreece Charges 59 in Horiatiko Bakery Tax-Fraud Investigation
Greek authorities charged 59 people in an investigation into alleged tax fraud centered on the Horiatiko bakery chain. The reported accusations include tax evasion, fraud against the state and money laundering. Authorities also reportedly sequestered about €6 million and seized €250,000 in cash.
Read developmentZheng Zhao Extradited to U.S. in Alleged $36.9 Million Crypto Scam Case
The Justice Department says Zheng Zhao was extradited from the Netherlands and arraigned in California on a money-laundering conspiracy charge. The alleged scheme targeted 174 U.S. victims, with more than $36.9 million passing through a Bahamas bank account before conversion to USDT and transfer to a wallet controlled in Cambodia.
Read developmentICIJ Reports A7 Processed $14 Billion in Cash Rubles
ICIJ and Proekt report that internal records show A7 processed at least 283 metric tons of cash rubles, worth more than $14 billion, between November 2024 and July 2025. The investigation traces cash from Moscow markets through A7 and Promsvyazbank into payment routes that often led to China.
Read developmentAIFC Court Restricts Six Crypto Platforms Over Unlicensed Services
The AIFC Court barred six crypto-platform operators from offering unlicensed digital-asset services in the financial centre. After LBank was removed from the order, the injunctions applied to BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase and WEEX; the decision also addressed app-store access restrictions.
Read developmentUK Sets Three-Year AML and Asset Recovery Strategy
The UK Home Office’s 2026–2029 Anti-Money Laundering and Asset Recovery Strategy sets out three-year priorities for tackling money laundering and recovering criminal assets. The government says it is backed by more than £550 million and will add 500 law-enforcement officers and specialists by the end of 2029.
Read developmentTreasury Announces More Than $1.21 Billion in Bank of America Penalties
U.S. Treasury announced more than $1.21 billion in enforcement penalties against Bank of America on October 13, 2026. The actions include a $1.2 billion FinCEN assessment, a $750 million OCC penalty and an $11.6 million OFAC settlement concerning 475 apparent sanctions violations.
Read developmentVietnam Resolution Tightens AML Rules on Beneficial Ownership and Customer Checks
Vietnam’s Resolution No. 66.23/2026/NQ-CP amends AML provisions on beneficial ownership, customer due diligence and risk classification. The Government says the temporary measures support international tax-information exchange commitments and apply until February 28, 2027, or until amended legal documents take effect, whichever comes first.
Read developmentYMCO Leader Pleads Guilty in $10 Million Cybercrime Laundering Case
Oleg Korniev pleaded guilty to five federal offenses tied to Your Mule Cashout. The Justice Department said the network recruited more than 15,000 U.S.-based money mules and laundered at least $10 million stolen from over 750 U.S. bank accounts. Sentencing has not been set.
Read developmentOCC Fines American Express National Bank $350 Million Over AML Failures
The OCC ordered American Express National Bank to cease and desist and assessed a $350 million penalty over BSA/AML program deficiencies. The agency cited control and monitoring failures and approximately $13 billion in suspected trade-based money-laundering activity that the bank failed to sufficiently report.
Read developmentUkraine Sends Alleged Golden Mandarin State-Funds Scheme to Court
Ukraine’s anti-corruption agencies sent a case involving 54.18 million hryvnias in alleged state-funds misappropriation and laundering to court. NABU says investigators allege a former MP organized a scheme involving Golden Mandarin Oil, Kyivenergo and an ECHR claim. Defendants are presumed innocent unless convicted.
Read developmentMontenegro Prosecutors Seek Permanent Confiscation of 54,567 Square Metres of Assets
Montenegro’s Special State Prosecutor’s Office says it has asked the High Court in Podgorica to permanently confiscate at least 54,567 square metres of real estate and two armoured vehicles attributed to a person convicted of criminal-organisation and drug offences.
Read developmentSingaporean pleads guilty over $245m cryptocurrency RICO conspiracy
Malone Lam, 22, pleaded guilty on 8 September 2026 to a RICO conspiracy for organising theft and laundering of over $245 million in cryptocurrency; prosecutors say the ring used social engineering and home break‑ins and spent proceeds on luxury goods and services.
Read developmentMonaco Regulator Fines Julius Baer Wealth Management Monaco €1.5 Million
Monaco’s AMSF imposed a €1.5 million penalty on Julius Baer Wealth Management Monaco over AML/CFT organisational deficiencies and delayed suspicious-activity reports.
Read developmentTreasury Designates Golden Global Bank and Subsidiaries Under Iran EO
OFAC designated Türkiye-based Golden Global Bank and two subsidiaries under E.O. 13902, citing alleged support for Iran’s financial networks and IRGC-Qods Force-linked transactions.
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