Regulus — The global regulatory broadcast network

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United States DOJ Criminal Division Financial Crime ✓ 12 claims 26 Oct 2026

DOJ indicts CJNG regional commander on cocaine, meth trafficking and firearm charges

A grand jury in the District of Columbia has indicted a man described as a regional commander of the Cartel de Jalisco Nueva Generacion, a group the State Department designated a foreign terrorist organization in February 2025. The case, brought under the Homeland Security Task Force initiative, illustrates how US prosecutors are now charging cartel leadership structures rather than only couriers or distributors.

A federal grand jury in the District of Columbia indicted Ivan Cazarin Molina, 42, on Oct. 22, 2026.
DOJ alleges he was a regional commander for CJNG in Veracruz, Mexico, known as "Tanque."
The charged conspiracy covers cocaine and methamphetamine distribution for importation into the US from 2005 through 2025.
If convicted, he faces a minimum of 40 years and a maximum of two consecutive life prison terms.
He was arrested by Mexican law enforcement on Oct. 5, 2026, in Jalisco, Mexico.

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FCA Source document ↗

United Kingdom FCA Financial Crime ✓ 17 claims 26 Oct 2026

FCA says defence SMEs face banking friction and delay, not exclusion

The FCA has published findings on whether small defence-sector businesses can access everyday banking services. The piece matters to compliance teams at banks and other firms serving this sector because it sets out the regulator's read on where risk-based onboarding is falling short, without creating new rules.

The FCA engaged with firms and found they can and do serve defence SMEs, with some investing in specialist teams and governance processes.
The regulator identified friction and delay, including long onboarding processes and repeated requests for information, rather than widespread exclusion.
The FCA states there is no regulatory barrier preventing firms from supporting lawful defence businesses, and firms retain their own commercial risk appetite.
Many firms told the FCA they lack a clear picture of their defence customers or the outcomes those customers experience through the firm's processes.
The work introduces no new rules or requirements but reinforces that firms should take risk-based, proportionate decisions on individual customers, including SMEs.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 13 claims 26 Oct 2026

Former Eminem studio employee pleads guilty to criminal copyright infringement

A Justice Department release details the guilty plea of a former employee of musician Marshall Mathers who copied and sold unreleased studio recordings. The case illustrates how insider access to proprietary digital assets, not just financial data, falls within federal computer crime and intellectual property enforcement.

Joseph Strange, 48, of Holly, Michigan, pleaded guilty to criminal infringement of copyright in the Eastern District of Michigan.
Court documents say Strange sold and transmitted 10 or more unauthorized music files between July and August 2024 for approximately $50,000.
Streaming provider data showed the infringing files had been accessed more than eight million times as of November 2025.
The government estimates the infringement amount of the stolen files at at least $750,000.
Strange is scheduled to be sentenced on Jan. 27, 2027, and faces a maximum penalty of five years in prison.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 26 Oct 2026

Virginia senator indicted over alleged marijuana enterprise and bribery scheme

The Justice Department has indicted a sitting Virginia state senator and six co-defendants, alleging she led a family-run marijuana distribution and money laundering operation while using her legislative position to shield it from scrutiny. This item sets out what the indictment alleges, who is charged, and the scale and duration of the conduct described.

An eight-count indictment charges seven defendants, including Senator Lillie Louise Lucas, 82, of Portsmouth, Virginia.
FBI Director Kash Patel described the alleged scheme as spanning five years and worth an estimated $4.5 million.
The indictment alleges acquisition and distribution of 100 kilograms or more of marijuana and supervision of laundering proceeds.
Lucas allegedly paid $750,000 in August 2022 for a 100% stake in a shell holding company tied to a co-conspirator's expected recreational marijuana license.
On May 6, FBI agents executed search warrants at The Cannabis Outlet and The CBD Shoppe, recovering marijuana and firearms at both locations.

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NCSC UK Source document ↗

United Kingdom NCSC UK Financial Crime ✓ 12 claims 26 Oct 2026

NCSC issues alert after ASOS customer data accessed in cyber incident

The NCSC has published an alert on a cyber incident affecting ASOS, after customers received an unauthorised push notification. The retailer says personal data was accessed but believes payment and password data were not. This briefing covers what ASOS has disclosed, who the NCSC says is affected, and the recommended steps for individuals.

ASOS customers received an unauthorised push notification from the company on Tuesday 6 October.
ASOS has said names and contact details of customers have been accessed in the incident.
ASOS has said it does not believe payment card information or account passwords were affected.
The NCSC advises all ASOS customers to assume they are affected, even if they did not receive the notification.
The NCSC lists six recommended actions: confirm you're affected, watch for scams, update vulnerable passwords, review account activity, recover compromised accounts, and check for wider exposure.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 26 Oct 2026

Former US official pleads guilty to $194 million fraud using fake spy program

A federal employee with top-level security clearance has admitted to one of the larger insider fraud cases against the US government in recent memory, using a fictitious classified program to extract funds later converted into gold and luxury assets. This briefing covers the plea, the forfeiture terms and what remains unresolved as sentencing approaches.

Rush fraudulently obtained approximately $193,590,400 in US government funds by creating fictitious government authorities, including a fabricated Special Access Program.
An FBI search of Rush's residence on May 19, 2026 recovered 298 gold bars, approximately $2,106,550 in cash and €104,795.
The gold bars had cost the government approximately $46 million to acquire, and Rush directed approximately $145 million in wire transfers toward luxury purchases.
Under the plea agreement, Rush will forfeit the gold bars, cash, fraudulently obtained properties, 30 watches and two 2026 BMW Alpina vehicles, one valued at approximately $172,000.
Rush is scheduled for sentencing on January 28, 2027 and faces a maximum of 20 years in prison, three years of supervised release, forfeiture, restitution and a fine.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 25 claims 26 Oct 2026

DOJ denaturalizes two citizens for concealing passport fraud and money laundering

The Justice Department announced two denaturalization judgments entered in October 2026, stripping citizenship from a Nigerian-born woman who used a stolen identity for passport fraud and a Cuban-born woman who concealed a money laundering conspiracy. The releases detail the underlying fraud, prior criminal convictions, and the civil litigation timeline that led to consent judgments revoking naturalization in both cases.

A California federal court revoked Vivian Chike Obichere's citizenship on Oct. 13 after finding she illegally procured it.
Obichere used the identity of a U.S. citizen, 'C.C.O.', to fraudulently obtain a passport in 1992 and renewed it in 2002 and again attempted renewal in 2012.
She was convicted in 2015 of False Statement in Application and Use of Passport in the Northern District of California.
A Florida federal court revoked Milagros Marileisis Acosta Torres's citizenship on Oct. 14 over a concealed money laundering conspiracy.
Acosta Torres was convicted in 2020, sentenced to six months in prison, and ordered to pay nearly $150,000 in restitution.

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Regulus Weekend Edition Source document ↗

United States Regulus Weekend Edition Financial Crime ✓ 20 claims 25 Oct 2026

Licensed bank sat at the chokepoint of a $36.9m crypto laundering chain

US enforcement did the week's financial crime work. A money laundering extradition located the laundering failure at a regulated bank's conversion desk, a telemedicine owner was sentenced for a $46.2m Medicare scheme built on overlapping ownership, and the FTC asked a court to hold Martin Shkreli in contempt of a lifetime industry ban. Three cases, three distinct control failures worth studying.

Zheng Zhao faces up to 20 years on a money laundering conspiracy charge after more than $36.9m from 174 US victims was routed through a Deltec Bank account and converted to Tether, with eight co-conspirators already pleaded guilty, two sentenced to 51 and 46 months for unlicensed money transmission.
Christopher Harwood was sentenced to 20 years for a $46.2m Medicare fraud and ordered to pay $17,942,402 in restitution and $10,431,463 in forfeiture, having owned both the telemedicine front end that generated orders and the DME companies that billed them.
The FTC and seven states filed on 13 October 2026 to hold Martin Shkreli in civil contempt of his 2022 lifetime pharmaceutical ban, alleging trading in at least 60 pharmaceutical stocks since his May 2022 release.
The Shkreli motion seeks a fine equal to trading profits plus prejudgment interest with no offset for losses, a coercive construction aimed at compliance rather than net enrichment.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 21 claims 25 Oct 2026

Chinese national extradited to US over $36.9m Cambodia-based crypto scam

The Justice Department has brought a Chinese national from the Netherlands to a Los Angeles courtroom over a cryptocurrency investment fraud run from scam centers in Cambodia. The case maps a specific laundering route: US bank accounts to Deltec Bank in the Bahamas, conversion into Tether, and onward transfer to wallets in Cambodia. It shows how the DOJ is pursuing the financial plumbing behind pig-butchering schemes.

Zheng Zhao, 44, was arraigned in the Central District of California after extradition from the Netherlands and faces a maximum of 20 years if convicted.
More than $36.9 million in victim funds moved from US accounts to a single Deltec Bank account in the Bahamas, was converted to Tether, and transferred to a wallet controlled in Cambodia.
The government identified 174 US victims of the fraudulent digital asset investment scheme.
Eight co-conspirators have pleaded guilty, including ShengSheng He and Jingliang Su, sentenced to 51 and 46 months respectively for conspiracy to operate an unlicensed money transmitting business.
Zhao was charged in August 2025 with conspiracy to commit money laundering as part of the Criminal Division's Cyber-Enabled Scam Initiative.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 23 Oct 2026

Telemedicine owner gets 20 years for $46.2M Medicare fraud scheme

A DOJ sentencing release detailing a six-year Medicare fraud conspiracy run through a telemedicine company and affiliated durable medical equipment suppliers. Relevant for compliance teams at telehealth, DME and laboratory businesses monitoring enforcement patterns in the health care fraud space and the penalties now being imposed.

Harwood was sentenced to 20 years in prison for organizing a $46.2 million Medicare fraud conspiracy spanning more than six years.
He was ordered to pay $17,942,402 in restitution to Medicare and $10,431,463 in forfeiture.
Doctors paid by Harwood signed orders for orthotic braces and genetic tests without Medicare-compliant telemedicine visits or real patient relationships.
Harwood sold the signed doctors' orders to DME supply companies, laboratories and marketers, and used his own DME companies to bill Medicare directly.
Harwood pleaded guilty in March 2026 to conspiracy to commit health care fraud and wire fraud.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 14 claims 23 Oct 2026

Google to verify US financial services ads using ABA bank registry

Google is expanding its Financial Services Verification program to the US and Canada, using an American Bankers Association registry to confirm advertisers are legitimate banks. The move follows years of ABA pressure on platforms to curb impersonation scams, and sets a new gatekeeping step banks will need to clear before running ads.

Google will expand its Financial Services Verification program to the US and Canadian markets starting early next year.
The verification program is currently operating in 42 countries, according to Google's blog post.
Financial services firms will need to seek verification through the program before advertising on Google.
Google will use an American Bankers Association registry to verify authorized banks before ads run in the US.
Google is working with the Canadian Bankers Association on a parallel verification arrangement for Canada.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 15 claims 23 Oct 2026

DOJ charges 14 in DPRK IT worker scheme that hit over 70 US firms

DOJ and FBI announced coordinated action against a North Korean remote IT worker fraud network, including a 14-defendant indictment in Ohio and a multi-week device seizure operation in Texas. The release details how the scheme used stolen identities and US-based facilitators to place DPRK workers inside American companies, and lists email indicators firms can use to screen hires.

The indictment charges 14 defendants, including US nationals Michael James Bostelle and Juan Cecilio Pena Carrillo, with wire fraud, money laundering and identity theft.
The scheme ran from 2019 to around July 2025 and generated approximately $3 million in revenue believed sent to sanctioned DPRK-controlled accounts.
More than 70 US companies were affected across Ohio, sixteen additional states and the District of Columbia, in sectors including health care, communications and manufacturing.
Between September 21 and 25, the FBI conducted Operation Lonestar Roundup, searching over 40 Texas residences and seizing approximately 187 laptops and KVM devices.
DOJ listed eleven specific email addresses used in the scheme and encouraged employers to add them to their detection indicators.

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IC3 — FBI Internet Crime Complaint Center Source document ↗

United States IC3 — FBI Internet Crime Complaint Center Financial Crime ✓ 23 claims 23 Oct 2026

FBI updates guidance on North Korean IT worker threat as facilitator use expands

The FBI's Internet Crime Complaint Center has refreshed its public and private sector guidance on North Korean remote IT workers who infiltrate western companies using stolen identities. The alert documents a shift toward paid facilitators, subcontracting to third-party foreign nationals, extortion and threats of physical violence, and urges firms to adopt a layered "identity in depth" detection approach rather than relying on single indicators.

North Korean ITWs collect salaries, steal data and extort victims under government direction, with the North Korean government receiving an estimated 85-90% of the revenue the actors generate.
ITWs pay facilitators to appear on camera, sit interviews, verify fraudulent identities, ship packages, complete urinalysis or fingerprint submissions, and host employment devices in "laptop farms".
The FBI has observed ITWs make death threats against former managers and families, and threaten to leak corporate data unless paid large lump sums.
ITWs target positions requiring U.S. government security clearances, cleared defense contractors, and active-duty military members asked to host laptops.
The FBI urges an "identity in depth" approach of layered access controls and continuous verification, warning that sole reliance on ban lists is unreliable and can block identity-theft victims.

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FCA Publications Source document ↗

United Kingdom FCA Publications Financial Crime ✓ 16 claims 23 Oct 2026

FCA consults on Financial Crime Guide updates covering AI, crypto and sanctions

The FCA has opened CP26/38, a consultation on updates to its Financial Crime Guide intended to keep firms' systems and controls aligned with emerging risks. It spans seven areas, from fraud and sanctions to the incoming cryptoasset regime. Anyone supervised for financial crime under the MLRs should read the proposals and respond before the December deadline.

The consultation opened 23 October 2026 and closes for responses on 24 December 2026.
Proposed changes span seven areas including fraud, sanctions, proliferation financing, data security and money laundering.
Crypto-related updates are intended to reflect the new cryptoasset regime arriving from October 2027.
The FCA will publish feedback and the final Financial Crime Guide text in a Policy Statement.
The FCA is exploring publishing standalone guidance without prior consultation where it is not required, to be consolidated into the Guide later.

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FCA Source document ↗

United Kingdom FCA Financial Crime ✓ 16 claims 23 Oct 2026

FCA restricts six Annex 1 lenders over money laundering control concerns

The FCA has placed restrictions on six unregulated lenders registered as Annex 1 firms after raising concerns about their anti-money laundering controls during application assessments. The action sits within a wider review of roughly 900 registered firms. This segment covers who is affected, what the restrictions require, and the due diligence reminder the FCA directed at regulated firms dealing with the sector.

The FCA imposed voluntary restrictions on six Annex 1 firms after concerns about their AML controls surfaced during application assessments.
Restrictions limit new customers and new business, constrain payments from existing customers, and require independent AML reviews or, for Kingscrown Finance Ltd, an orderly wind-down of its loan book.
The FCA is assessing responses to an information request sent to around 900 registered Annex 1 firms to identify and disrupt financial crime risks.
The FCA reminded regulated firms that an Annex 1 firm's registration does not replace their own due diligence, including confirming registration status and conducting independent checks.

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Federal Register — State Department Source document ↗

United States Federal Register — State Department Financial Crime ✓ 16 claims 23 Oct 2026

US adds two ICC-linked individuals and the Court itself to OFAC blocking list

The State Department has published a notice placing two named individuals and the International Criminal Court on OFAC's Specially Designated Nationals and Blocked Persons List under the Executive Order 14203 sanctions programme targeting the ICC. This item sets out who was designated, on what date, under which criterion, and what the blocking means for any firm with exposure to funds or property connected to those persons.

Tomoko Akane (DOB 28 Jun 1956, nationality Japan) and Abdoulaye Seye (DOB 09 May 1967, nationality Senegal) were added to the SDN List as of 18 August 2026, both located in The Hague.
The International Criminal Court, address Oude Waalsdorperweg 10, The Hague, was added to the SDN List as of 9 October 2026.
All three designations cite section 1(a)(ii)(A) of Executive Order 14203, covering direct engagement in an ICC effort to act against a protected person without the consent of that person's country of nationality.
All property and interests in property of the designated persons subject to U.S. jurisdiction are blocked.
Enquiries are directed to Samuel Parker, Deputy Assistant Secretary, Division for Counter Threat Finance and Sanctions, at iccsanctions@state.gov.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 15 claims 23 Oct 2026

Sinaloa Cartel transporter pleads guilty to meth and marijuana trafficking

A DOJ press release details the guilty plea of a Mexican national who worked as a distributor and transporter for Sinaloa Cartel-affiliated traffickers. The case, brought under the Homeland Security Task Force initiative, illustrates federal prosecutors' continued focus on mid-level cartel logistics networks and the financial channels that support them.

Hernandez Ochoa pleaded guilty to conspiracy to distribute 500 grams or more of methamphetamine and 1,000 kilograms or more of marijuana for importation into the United States.
Court documents say he worked from 2015 to 2017 as a distributor and transporter using private planes, human couriers, tunnels, semi-trailer trucks and hidden vehicle compartments.
He also coordinated transportation of cash for drug purchases and its repatriation from the U.S. after sale.
Sentencing is scheduled for Feb. 2, 2027, and he faces a maximum penalty of life in prison.
The Justice Department's Office of International Affairs assisted in his extradition, with cooperation from the Government of Mexico.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 19 claims 23 Oct 2026

New Jersey brothers plead guilty to stealing $2.6 million in fake tax refunds

A DOJ guilty plea announcement details how two brothers used false Form 1041 trust filings to extract over $2.6 million combined in fraudulent IRS refund checks, then obstructed collection efforts with false nonresident filings. The case is part of DOJ's first National Tax Enforcement Surge, giving compliance and financial crime teams a window into current enforcement priorities.

Ronald Chrichlow and Gordon Chrichlow pleaded guilty to theft of government funds after claiming false refunds of $978,126 and $1,643,172 on 2022 Form 1041 filings.
The IRS issued Treasury checks for both amounts in March 2023, and Gordon Chrichlow used proceeds to buy a Porsche Taycan for approximately $117,364 and a house for approximately $686,258.
After an IRS revenue officer was assigned in August 2023, the brothers filed false Form 1040-NR returns falsely claiming nonresident status and treaty-based tax exemption.
Ronald Chrichlow earned $960,000 between 2021 and 2024 but did not file returns from 2022 to 2024, and separately claimed a false $93,228 refund for 2021.
Gordon Chrichlow failed to file returns from 2021 through 2024 despite earning more than $1.4 million in gross income in those years.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 14 claims 23 Oct 2026

Four Texans indicted over trust tax shelter tied to $200 million IRS loss

The indictment covers one case within DOJ's first National Tax Enforcement Surge, a nationwide push spanning early September to October 14. It details a promoted trust scheme, alleged obstruction of IRS audits, personal tax evasion and a separate fraudulent securities solicitation tied to one defendant, with charges carrying penalties up to 20 years per count on the most serious counts.

The indictment alleges the trust scheme sheltered more than $1.5 billion in client income, causing an estimated $200 million tax loss to the IRS.
Clients allegedly paid fees often exceeding $100,000 and were encouraged to backdate trusts and file amended returns claiming refunds.
Weickgenant is charged with corrupt interference with the IRS, including instructing clients not to speak with investigators and not to comply with a court order enforcing an IRS summons.
MacDonald is separately charged with wire fraud and transactions with criminally derived property over an alleged $2 million investor solicitation while under an SEC injunction barring unregistered securities sales.
The case is one of 76 defendants charged nationwide under DOJ's first National Tax Enforcement Surge, covering an estimated $490 million in intended and estimated federal revenue loss.

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ADGM Abu Dhabi — announcements Source document ↗

United Arab Emirates ADGM Abu Dhabi — announcements Financial Crime ✓ 12 claims 23 Oct 2026

UAE central bank AML unit and ADGM's FSRA sign AML/CFT cooperation MOU

The Central Bank of the UAE's Anti-Money Laundering and Suspicious Cases Unit and the FSRA of Abu Dhabi Global Market have signed a memorandum of understanding to cooperate on AML/CFT. The agreement commits both to regular discussions and coordinated training. For firms operating in ADGM, it signals tighter domestic coordination between the free-zone regulator and the federal AML authority.

The AMLSCU at the Central Bank of the UAE and the FSRA of ADGM signed an AML/CFT cooperation MOU on 2 May 2016.
Both parties committed to regular discussions on issues of mutual interest and to coordinating AML/CFT training and technical assistance.
The FSRA regulates financial institutions and DNFBPs in ADGM for compliance with UAE AML/CFT laws and ADGM AML/CFT regulations and rules.
The MOU was signed by Abdulrahim Mohammed Al Awadhi of the AMLSCU and Richard Teng, Chief Executive Officer of the FSRA.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 22 Oct 2026

DOJ and HHS open six-month False Claims Act self-disclosure pilot for healthcare firms

The Justice Department's Civil Division and HHS have launched a six-month pilot giving healthcare companies a defined route to resolve potential False Claims Act violations by disclosing them voluntarily. The programme fixes the repayment multiplier at 1.25 to 1.6 and offers a coordinated civil release from FCA and certain HHS administrative liability. This briefing sets out who qualifies, what a disclosure must contain, and the deadline.

The six-month FCA SDPP accepts self-disclosure submissions through April 22, 2027, and late or incomplete filings will not be reviewed.
Self-disclosing companies must repay the government with a 1.25 to 1.6 multiplier, varying by timeliness, scope, senior-leadership involvement, financial benefit and successor liability.
Participants must describe all relevant conduct, produce sufficient documents and set out remedial actions taken, submitting electronically to FCA-SDPP@usdoj.gov.
Qualifying companies receive a coordinated civil release from liability under the federal False Claims Act and certain HHS administrative authorities.
The pilot covers potential civil violations only; potential criminal conduct must be disclosed to DOJ's National Fraud Enforcement Division.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 26 claims 22 Oct 2026

DOJ charges 15 in Los Angeles health care fraud takedown over $1.8bn in claims

The Justice Department's new National Fraud Enforcement Division unveiled a coordinated Los Angeles takedown spanning sober home, hospice, atherectomy, genetic testing and pharmacy fraud. For compliance leads at insurers and providers, the sweep shows how data analytics now drives case selection and how kickback-driven patient recruitment remains the common thread across schemes totalling over $1.8 billion in fraudulent claims.

Nathan Young, David Young, Honey Phipps and Cody Phipps are charged over a scheme that billed private insurers more than $1.6 billion for sham substance abuse treatment, with co-defendant Nicholas Moore pleading guilty to assisting $199 million in fraudulent claims.
Dr. Harold Tabaie and Hany Malek face a $135 million Medicare scheme for unnecessary atherectomies, a case DOJ says was identified through data analytics showing Tabaie as an extreme national billing outlier from 2016 through 2023.
Three separate hospice schemes, charged against Geoffrey Jimenez, Dr. Richard Keech and Armani Raffi, allegedly billed Medicare over $138 million for patients who were not terminally ill, with non-death discharge rates far above the national average.
Christina Mareik was indicted over a nearly $270 million Medi-Cal pharmacy scheme exploiting the suspension of prior-authorization requirements, with approximately $269,130,000 billed and at least approximately $178,746,000 paid.
Doctors Hassan Badday and Robby Ayoub are charged with accepting per-patient kickbacks from a marketer for ApolloMDx laboratory in exchange for authorizing medically unnecessary genetic testing orders.

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US Federal Trade Commission — press releases Source document ↗

United States US Federal Trade Commission — press releases Financial Crime ✓ 19 claims 22 Oct 2026

FTC sues GovAssist and owner Scott Zuckerman over passport impersonation scheme

The FTC has filed suit against GovAssist LLC, Entry LLC and individual Scott Zuckerman, alleging they impersonated the US government to lure travellers seeking passport services. The case tests the agency's Impersonation Rule and reaches a defendant already operating under a prior FTC order. For compliance teams at advertisers and platforms, it maps how the FTC frames paid-search impersonation as an FTC Act violation.

The FTC alleges GovAssist, Entry and Zuckerman impersonated the US State Department through paid Google search ads since at least October 2023.
The complaint cites violations of the FTC Act, the Impersonation Rule and the Gramm-Leach-Bliley Act.
Defendants advertised services starting at $89 while the lowest actual price was $119 plus a $29 shipping fee, totalling $148 as stated by the FTC.
Individual defendant Scott Zuckerman ran the scheme while under a prior FTC order in the unrelated Support King LLC stalkerware case.
The Commission authorised the complaint on a 2-0 vote; it was filed in the US District Court for the District of Puerto Rico.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 19 claims 22 Oct 2026

OFAC clears 125 names in sanctions overhaul, issues first PAIPA licenses

The ABA's fortnightly digest of OFAC and State Department sanctions activity through Oct. 19 covers a 125-name delisting, the first general licenses under the Protecting American Intellectual Property Act, fresh Russia, Iran and Cuba measures, an ICC-related settlement, cartel designations and Venezuela earthquake-relief authorization. Screening and wind-down obligations run in several directions at once.

On Oct. 5, OFAC removed 125 individuals and entities from its sanctions lists and updated 22 list entries to improve compliance screening.
On Oct. 19, OFAC issued PAIPA General License 1 and General License 2 and added entities to its non-SDN menu-based sanctions list.
OFAC reached a $175,015 settlement with Pegasus Worldwide Logistics over potential sanctions and reporting violations, and issued four ICC-related general licenses.
On Oct. 15, State designated Cuba's BANCO INTERNACIONAL DE COMERCIO S.A. (BICSA) under E.O. 14404 and OFAC issued Russia- and Iran-related general licenses.
OFAC issued Venezuela-related General License 60A authorizing transactions related to earthquake relief efforts and amended FAQ 1263.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 17 claims 22 Oct 2026

Smuggler sentenced to five years for northern border human smuggling ring

A DOJ press release details the sentencing of Edgar Sanchez-Solis, a leader of an alien smuggling organization that moved migrants across the US-Canada border. The case, part of Operation Take Back America and Joint Task Force Alpha, outlines the scheme's structure, a 2023 vehicle chase, and co-defendants awaiting sentencing.

Edgar Sanchez-Solis, 27, was sentenced to five years in prison for conspiracy to commit alien smuggling and five counts of alien smuggling for commercial advantage and private financial gain.
The smuggling organization operated between December 2022 and April 2025 and smuggled hundreds of aliens from Mexico and Central and South America across the Canadian border into the United States.
In May 2023, a van carrying smuggled aliens led US Border Patrol on a vehicle chase that ended when officers used a tire deflation device.
Three co-defendants, Ignacio Diaz-Perez, Samuel Diaz-Perez, and Salvador Diaz-Diaz, pleaded guilty to related conspiracy and smuggling counts and are expected to be sentenced on November 23.
Joint Task Force Alpha's work to date has resulted in more than 486 domestic and international arrests and more than 486 US convictions, according to the release.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 17 claims 22 Oct 2026

San Diego man pleads guilty to evading over $6.7 million in taxes

The Justice Department announced a guilty plea in a tax evasion case involving an unreported income scheme tied to the sale of purported federal tax credits. The item covers the scale of unreported income, how proceeds were concealed and spent, and the sentencing timeline, relevant to compliance teams tracking enforcement trends in tax-related fraud.

Peter L. Roper's businesses received nearly $19 million in income between 2010 and 2021 that was never reported to the IRS.
Roper owed more than $6.7 million in federal income taxes on that unreported income.
He spent $187,432.34 on a 2015 McLaren 650S Spider and $277,698.50 on a 2021 Aston Martin DBX using business funds.
Roper concealed assets by titling them in the names of others and pleaded guilty to one count of tax evasion.
Sentencing is scheduled for Jan. 8, with a maximum penalty of five years in prison.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 14 claims 22 Oct 2026

ISIS-inspired inmate gets 50 years for stabbing attack on prison guards

A Justice Department press release details the sentencing of Abdulrahman El Bahnasawy for a 2020 assault on two corrections officers at USP Allenwood while he was already incarcerated for plotting ISIS attacks in New York City. The release covers the sentence, the underlying conduct, and prior proceedings.

Bahnasawy, 28, was sentenced to 50 years for the Dec. 7, 2020 attack on two corrections officers at USP Allenwood.
The 50-year term runs consecutive to the 40-year sentence he is already serving for plotting a 2016 ISIS attack in New York City.
Bahnasawy pleaded guilty in November 2025 to assault, assault with intent to commit murder, possession of contraband, and providing material support to ISIS.
One of the two attacked corrections officers lost his right eye as a result of the assault.
A note reading 'This is a terrorist attack for the Islamic State' was found in Bahnasawy's sock after he was restrained.

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Federal Register — State Department Source document ↗

United States Federal Register — State Department Financial Crime ✓ 12 claims 22 Oct 2026

State Department waives child soldier arms restrictions for eight countries

The Child Soldiers Prevention Act bars certain US military assistance and arms sales to governments that recruit child soldiers unless the President certifies progress and waives the restriction. This notice records the annual national-interest determination covering eight countries and sets out exactly which categories of assistance each waiver unlocks.

The waiver for the Central African Republic covers IMET assistance, excess defense articles and DCS licenses only.
The DRC waiver is limited to IMET, peacekeeping operations assistance and DCS licenses.
Ethiopia, Nigeria and Yemen receive full waivers of the section 404(a) prohibition with no stated limitation.
Somalia's waiver is restricted to peacekeeping operations assistance and support under 10 U.S.C. 331 and 10 U.S.C. 333.
The Russian Federation receives a waiver solely for DCS licenses connected to the International Space Station.

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National Crime Agency UK Source document ↗

United Kingdom National Crime Agency UK Financial Crime ✓ 16 claims 22 Oct 2026

'Lord of Fraud' Hugh Rodley admits child sexual abuse offences after NCA inquiry

The National Crime Agency reports that Hugh James Rodley, previously jailed over two large-scale frauds, has admitted making and possessing indecent images of children. The case sits outside conventional financial-crime reporting, but it concerns a figure whose fraud convictions are well known to the sector and illustrates how NCA arrests on one matter can surface entirely separate offending.

Rodley admitted six counts of making indecent images or videos of children and one count of possession at Cheltenham Magistrates' Court on 22 October.
A laptop seized after his 4 December arrest held 198 indecent images, 19 at category A, 12 at category B and 167 at category C, with at least 806 related searches.
After a second arrest on 27 January, officers found an iPhone containing 295 indecent images used almost immediately after he was bailed.
Rodley was previously jailed for eight years in 2009 over an attempt to steal £229m from a Japanese bank and for seven years in 2012 for defrauding more than 700 pensioners of £6m.
He returns to Cheltenham for sentencing on 22 November.

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Washington State DFI Source document ↗

United States Washington State DFI Financial Crime ✓ 15 claims 22 Oct 2026

Washington DFI files Statement of Charges against Digital Access and Christina Habhab

The Washington State Department of Financial Institutions has entered a Statement of Charges naming Digital Access, LLC and an associated individual under the Uniform Money Services Act. The published record carries only the case identifier, the respondents, the date and the governing act, so this briefing reports what the filing states and no more.

The DFI entered a Statement of Charges, case number C-26-4362-26-SC01, on 15 October 2026.
The respondents are Digital Access, LLC (NMLS #2185177) and Christina C. Habhab (NMLS #2301318).
The action is brought under the Uniform Money Services Act.
The full order is published as a linked PDF, C-26-4362-26-SC01-Digital-Access-LLC-et-al_web.pdf.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 14 claims 22 Oct 2026

Fraud now costs US financial firms $5.47 for every $1 lost, LexisNexis finds

Two industry studies quantify what fraud is costing US banks and financial services firms. LexisNexis puts the multiplier on each dollar of fraud at $5.47, up from $4 in 2021, while PYMNTS.com finds institutions now spend more than $2 to prevent every $1 that gets through. The data points to mobile channels, AI-generated techniques and a sharp divergence between large banks and fintechs.

LexisNexis finds every $1 of fraud costs US financial services firms $5.47, up from $4 in 2021.
Websites and mobile apps accounted for nearly 70% of fraud losses, and 96% of institutions reported more fraud targeting mobile channels.
Institutions estimated AI-generated techniques contributed to 19% of fraud losses in the US.
PYMNTS.com put losses per institution at $1.92 million in 2026, up 8% from $1.78 million in 2024, with prevention spend rising to $4.35 million.
Nonbank fintech firms saw fraud losses rise from $800,000 to $2.84 million per institution, while large banks cut losses by nearly half.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 12 claims 22 Oct 2026

FinCEN alerts banks to Iranian abuse of Shi'a religious charity networks

FinCEN has issued an alert to help financial institutions identify and report what it says is potential Iranian exploitation of religious charity networks, including khums payments from the global Shi'a community. It lists red flags and lands alongside fresh sanctions on a Cuban bank, both part of a campaign to isolate Iran financially.

FinCEN issued the alert on October 15, 2026 to help institutions identify and report potential Iranian abuse of religious charity networks.
The alert warns that Iran seeks to co-opt khums payments from the global Shi'a community to fund its activities.
It sets out several red flags that may indicate activity tied to Iran's abuse of religious charity networks.
The alert was issued alongside new sanctions on Cuba-based Banco Internacional de Comercio for allegedly supplying services to Iran, both part of Operation Economic Outcast.

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Govinfo Source document ↗

United States Govinfo Financial Crime ✓ 15 claims 22 Oct 2026

US Senate passes bill requiring dating apps to warn users of banned fraudsters

The Senate passed the Romance Scam Prevention Act by unanimous consent, a measure that would require online dating service providers to notify users when they have been communicating with an account banned for fraud. Senator Blackburn, presenting the bill, tied it to roughly $1.3 billion in annual losses from online romance scams, overwhelmingly borne by older Americans. For platform operators it introduces a statutory disclosure duty.

The Senate passed H.R. 2481, the Romance Scam Prevention Act, by unanimous consent on 23 September 2026.
The bill requires online dating service providers to provide fraud ban notifications to users.
Senator Blackburn said Americans lose roughly $1.3 billion each year to online romance scams, with senior citizens overwhelmingly the victims.
Blackburn described the scams as run by transnational criminal organisations that traffic workers into fraud dens and increasingly use AI to deceive consumers.
Representative Valadao was credited as sponsor of the House legislation.

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Brdr.Hkma Source document ↗

Hong Kong Brdr.Hkma Financial Crime ✓ 21 claims 22 Oct 2026

HKMA tells banks to harden account-opening controls against staff bribery

The Hong Kong Monetary Authority has written to all Authorized Institutions after recent cases in which criminal syndicates bribed bank staff to circumvent money-laundering controls during account opening. The 22 October 2026 circular reminds banks of the controls it expects and flags detailed industry guidance now in development with the Hong Kong Association of Banks and the ICAC.

Recent cases involved criminal syndicates bribing AI staff to bypass AML/CFT controls and open money mule accounts during account opening.
AIs should apply segregation of duties and the four-eyes principle, and distribute applications to checking staff on a rotating basis so one person does not handle multiple applications from the same customer or third party.
Third-party agents introducing or assisting clients must trigger enhanced controls including thorough due diligence, rigorous approval scrutiny and robust management oversight.
AIs should review account-opening controls for bribery vulnerabilities through a gap analysis, with clear senior-management responsibility assigned.
The Hong Kong Association of Banks, with HKMA and ICAC support, is developing detailed guidance on preventing staff bribery and corruption.

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CSSF Luxembourg Source document ↗

CSSF Luxembourg Financial Crime ✓ 14 claims 22 Oct 2026

CSSF warns of fraudsters impersonating Luxembourg firm Fortuna Holding

The CSSF has published a warning that unknown persons are impersonating the Luxembourg company Fortuna Holding S.a r.l. and conducting fraudulent activity in its name. The notice sets out the specific website, email domain and phone number being used by the impersonators, and confirms the genuine company is unconnected to the activity.

The CSSF warns that unknown persons are impersonating Fortuna Holding S.a r.l., which it classifies as identity theft and illicit activities.
The impersonators use the website www.fortunaholding.net, email addresses on the fortunaholding.biz domain, and the phone number +44 7441476008.
The CSSF confirms the genuine company at 5, Rue Charles Darwin, L-1433 Luxembourg is not related to the activities described.
The warning was published on 22 October 2026.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 15 claims 21 Oct 2026

Las Vegas tax preparer sentenced to 38 months over $5m refund fraud scheme

A DOJ sentencing release details a multi-year tax refund fraud scheme run through a family-owned Las Vegas tax preparation business. The case shows how false credits and borrowed preparer identifiers were used to inflate client refunds, with proceeds diverted to the preparers themselves, offering a compliance reference point on preparer-level fraud controls.

Ivan Odiaga was sentenced to 38 months in prison for conspiring to defraud the United States.
From 2017 through 2021, Odiaga and his mother, Iris Hondermann, prepared tax returns seeking more than $5 million in refunds clients were not entitled to receive.
The pair diverted more than $1.1 million in fraudulent refunds to bank accounts one or both of them controlled.
In 2020 and 2021, Odiaga prepared some returns using another tax preparer's PTIN without permission.
Hondermann pleaded guilty on Aug. 5 to one count of conspiring to defraud the United States.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 10 claims 21 Oct 2026

Courier for Chinese money laundering network gets nine years, $23m forfeiture

A DOJ press release details the sentencing of Shu Jun Zhen for her role as a bulk cash courier in a Chinese money laundering organization tied to drug trafficking proceeds. The case, brought under the Homeland Security Task Force initiative, illustrates how such networks move cartel money through shell accounts and dual identities.

Shu Jun Zhen, 31, was sentenced to nine years in prison and ordered to forfeit nearly $23 million.
The CMLO she worked for laundered over $92 million in illicit funds in less than two years, according to prosecutors.
Zhen personally picked up and deposited approximately $23 million in illicit bulk cash using real and fake identities.
She pleaded guilty in July 2025 to three counts, including money laundering conspiracy and a monetary transaction count involving property over $10,000.
Approximately $670,000 in U.S. currency and 12 firearms were seized from a drug trafficking organization that used the CMLO's services.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 25 claims 21 Oct 2026

DOJ fraud surge charges 40-plus defendants over nearly $42m in SNAP benefit fraud

The Justice Department's National Fraud Enforcement Division announced its first coordinated surge against SNAP and USDA program fraud, bringing actions against more than 40 defendants between September 1 and October 21, 2026. The cases centre on compromised EBT cards, stolen identities and authorised retailers trafficking benefits. For anyone tracking payments fraud and identity-theft typologies, the charging documents map how these schemes are run and monetised.

The surge ran from September 1 to October 21, 2026, producing actions against more than 40 defendants whose schemes caused nearly $45 million in intended losses, nearly $42 million of it against SNAP.
The largest case, United States v. Yaseen and Kanaan in the Southern District of Ohio, alleges $29.7 million in intended loss from thousands of fraudulent EBT transactions run through approved Chicago retail food stores using stolen state account data.
In the Oregon conspiracy, Ana Patricia Escalante was sentenced to 27 months and ordered to pay $2.4 million in restitution; 12 of 17 defendants have been sentenced to a combined 157 months.
Mark Frisbie pleaded guilty in the Middle District of Florida to false crop-insurance claims and agreed to pay $1,506,992.26 in restitution to the Farm Service Agency.
Schemes relied on skimming devices, stolen identities covering more than 650 victims in one Michigan case, and retailers exchanging cash and non-eligible goods for benefits at discounted rates.

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CFTC Enforcement Source document ↗

United States CFTC Enforcement Financial Crime ✓ 18 claims 21 Oct 2026

CFTC wins $9.2m default judgment against Louisiana man over forex fraud scheme

A federal court in Louisiana has entered a default judgment closing out a CFTC retail forex fraud case that already produced a criminal conviction. The segment covers what the court found, the penalty and bans imposed, and how the civil judgment sits alongside the nine-year prison sentence DePetrillo is already serving. Short, but a clean illustration of parallel civil and criminal resolution.

The court ordered a $9,211,492 civil monetary penalty against DePetrillo, Meteor LLC and NOLA FX Capital Management LLC.
The court found the defendants misappropriated more than $3 million through false solicitations, false account statements and Ponzi-like payments to existing participants.
The default judgment imposes permanent trading and registration bans and resolves all claims in the CFTC's 2024 complaint.
In the related criminal case, DePetrillo was sentenced on July 23, 2025 to nine years in prison and ordered to pay $6,748,412 in restitution.

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Federal Register — FinCEN Source document ↗

United States Federal Register — FinCEN Financial Crime ✓ 18 claims 21 Oct 2026

FinCEN withdraws 2023 finding that crypto mixing is a primary money laundering concern

FinCEN has withdrawn both its finding and the proposed rule that would have branded international convertible virtual currency mixing a class of transactions of primary money laundering concern. The reversal kills a reporting and recordkeeping regime that compliance teams had been preparing for since October 2023, and signals how the current Treasury weighs financial privacy against illicit finance risk on public blockchains.

FinCEN is withdrawing its finding and the proposed rule published at 88 FR 72701 (October 23, 2023) as of October 6, 2026.
The proposed rule would have imposed special measure one, requiring covered financial institutions to report and keep records on suspected CVC mixing, including wallet addresses, transaction hashes, IP addresses and customer identity data.
The withdrawal is informed by comments that the expansive definition of CVC mixing could chill legitimate activity and impose a large reporting burden.
FinCEN cites the July 2025 President's Working Group report under Executive Order 14178, which supports lawful users transacting privately on public blockchains.
FinCEN states it will continue to monitor CVC mixers for money laundering, terrorist financing or other illicit finance activity and may act in future.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 20 claims 21 Oct 2026

Fraudster pleads guilty to scheme stealing benefits from thousands of US veterans

A US citizen who operated from the Philippines has pleaded guilty to exploiting stolen personal data of servicemembers and veterans to drain bank accounts and benefits. The case, part of the Criminal Division's Cyber-Enabled Scam Initiative, illustrates how an insider data theft inside a US Army records office fed a cross-border fraud and money-mule network.

Boling pleaded guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering, each carrying a maximum of 20 years.
The stolen data originated with Fredrick Brown, a civilian Army medical records administrator in South Korea who photographed PII of thousands of military-affiliated individuals.
Boling was deported from the Philippines to the US in May 2026 and is scheduled for sentencing on January 14, 2027.
Co-conspirators Brown and Trorice Crawford were sentenced to 151 and 46 months; Jongmin Seok and Allan Albert Kerr remain fugitives.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 18 claims 20 Oct 2026

Maryland lab owner convicted of $18.7M Medicare respiratory-testing fraud at nursing homes

A federal jury in Maryland has convicted Annapolis laboratory owner Patrick Britton-Harr of billing Medicare for respiratory pathogen panel tests that nursing home residents did not need, physicians did not order, and in many cases were never performed. The case shows how pandemic-era COVID-19 testing access was leveraged into a separate, high-value billing stream, and how the conduct was proven at trial.

The jury convicted Britton-Harr on five counts of health care fraud and one count of transactional money laundering, each carrying a maximum of 10 years in prison.
Through Provista Health he billed Medicare $18.7 million for RPP testing in roughly six months, of which Medicare paid more than $7.2 million.
Physicians never ordered the RPP tests, and several testified they had never ordered one for any patient in their entire careers.
He billed for tests after closing his Arizona laboratory and for tests on nursing home residents who were already deceased.
Britton-Harr was previously convicted in a separate investment fraud scheme, according to the FBI.

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CISA Advisories Source document ↗

United States CISA Advisories Financial Crime ✓ 29 claims 20 Oct 2026

CISA and FBI Issue Joint Advisory on SafePay Ransomware After 600 Victims

This joint advisory from FBI, CISA, USSS and European law enforcement partners sets out the tactics, techniques and indicators of compromise used by SafePay ransomware actors, who have hit at least 600 victims across four continents. Security and incident response teams should use this to update detection rules and patch the specific CVEs named.

SafePay threat actors have affected at least 600 separate victims across multiple critical infrastructure sectors since August 2024.
The advisory names five CVEs exploited for initial access, including CVE-2024-40711 and CVE-2024-40766 affecting edge device products.
SafePay uses a hybrid ChaCha20 stream cipher and RSA public-key encryption scheme, appending encrypted files with the .SafePay extension.
Indicators of compromise listed were observed between November 2024 and August 2026, including IP addresses, malicious files and SHA-1 and SHA-256 hash values.
Authoring agencies include the FBI, CISA, USSS, Germany's Landeskriminalamt Rheinland-Pfalz, and two UK agencies, based on investigations as recently as August 2026.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 20 claims 20 Oct 2026

DOJ launches WHIP program paying whistleblowers up to $30,000 for fraud tips

The Justice Department and its National Fraud Enforcement Division have created the Fraud Whistleblower Incentive Program (WHIP), paying tipsters $10,000 to $30,000 at the charging stage for information on health care and government benefit fraud. This segment covers who it binds, which agencies' programs it targets, how it stacks with existing reward schemes, and the structural novelty of paying before a case is resolved.

WHIP pays whistleblowers $10,000 to $30,000 for information leading to criminal fraud charges, with awards made at DOJ's sole discretion after charges are filed.
The program pays at the charging stage rather than after final resolution, forfeiture and appeals, which DOJ says gives tipsters greater certainty and speed.
It covers federal health care offenses and fraud on programs run by USDA, Labor, HHS, HUD, Education, Veterans Affairs, the Department of War and the SBA, prioritizing hospice, home health, day care and special services fraud.
The Department of the Treasury is committing $25 million to the program, and reports can be filed at america.gov/fraud.
Participants remain eligible for additional awards through other schemes, including the Criminal Division's Corporate Whistleblower Awards Pilot Program.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 22 claims 20 Oct 2026

Illinois lab COO charged over $66.2M COVID testing fraud on HRSA uninsured program

A federal grand jury in the Northern District of Illinois has indicted the co-owner of a Hillside clinical laboratory over a scheme to bill the HRSA Uninsured Program for COVID-19 PCR tests that were never run. The case turns on a staffing-vendor arrangement that supplied patient identities and specimens, many of them fictitious, and shows how pandemic-era federal reimbursement programs are now feeding criminal prosecutions.

Rajesh Patel, 52, of Schaumburg, Illinois, faces five counts of wire fraud, each carrying a maximum of 20 years in prison.
The laboratory submitted approximately $66.2 million in fraudulent claims to the HRSA Uninsured Program and was paid approximately $44.1 million.
Patel allegedly created fake negative results for at least 380,000 PCR tests between May 2021 and April 2022 that the laboratory never performed.
A March 2021 agreement saw the laboratory pay Meridian Medical Staffing Inc. tens of millions for specimens and patient information, many for patients who never existed.
DOJ says Patel personally obtained approximately $28 million in proceeds from the scheme.

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Federal Reserve Source document ↗

United States Federal Reserve Financial Crime ✓ 9 claims 20 Oct 2026

Federal Reserve takes enforcement action against American Express over AML failures

The Federal Reserve Board announced an enforcement action against American Express Company on October 8, 2026, over failures to detect and report suspicious activity tied to money laundering and deficiencies in how its enterprise-wide AML program was implemented. The OCC issued a separate action against the firm's national bank. This briefing covers what the release states and what it leaves unresolved.

The Federal Reserve Board announced an enforcement action against American Express Company on October 8, 2026.
The action addresses, among other things, the firm's failure to sufficiently detect and report certain suspicious activity related to money laundering.
The Board identified significant deficiencies in how the firm's enterprise-wide anti-money laundering program was implemented, in particular at its subsidiary national bank.
The Office of the Comptroller of the Currency issued a separate enforcement action against the national bank.
The Board stated its action will help ensure the firm operates in compliance with all U.S. laws and regulations.

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OCC Bulletins Source document ↗

United States OCC Bulletins Financial Crime ✓ 14 claims 20 Oct 2026

OCC fines American Express unit $350 million over decade of BSA/AML program failures

The OCC has penalised American Express National Bank $350 million and issued a cease-and-desist order for BSA/AML compliance deficiencies, finding the bank failed to tailor its risk assessment to its dominant card business and missed around $13 billion of suspected trade-based money laundering over the past decade. The Federal Reserve acted concurrently against affiliated entities.

The OCC assessed a $350 million civil money penalty and a cease-and-desist order against American Express National Bank on October 8, 2026.
The bank failed to timely identify, evaluate and sufficiently report approximately $13 billion of suspected trade-based money laundering over the past decade.
The OCC found the risk assessment focused on narrow deposit products and insufficiently on dominant credit and charge card products.
Cited deficiencies included inadequate resources and expertise, systemic internal control gaps, weak independent testing and weak BSA/AML training.
The Federal Reserve issued a concurrent cease-and-desist order against American Express Company and American Express Travel Related Services Company, Inc.

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OCC Bulletins Source document ↗

United States OCC Bulletins Financial Crime ✓ 24 claims 20 Oct 2026

OCC orders Amex bank to rebuild AML program after $13bn suspected laundering flow

The OCC has entered a consent cease-and-desist order against American Express National Bank, finding its anti-money-laundering program was not reasonably designed across risk assessment, customer due diligence, suspicious activity monitoring and training. The order details roughly $13 billion in suspected trade-based money laundering processed over about eleven years, some of it through accounts tied to bank insiders, and imposes a sequence of remediation obligations the board must now deliver.

The Comptroller found the bank processed approximately $13 billion in suspected trade-based money laundering from roughly June 2014 to May 2025, in some instances through accounts associated with bank insiders.
The order cites violations of 12 C.F.R. 21.21, 21.11, and 31 C.F.R. 1020.210(a)(2)(v) and 1020.220(a)(2), with the bank neither admitting nor denying the findings.
The board must appoint a compliance committee within 15 days and submit an action plan within 90 days, and the bank must engage an independent SAR look-back consultant to assess unreported and deficient filings.
The OCC found the bank's risk assessment focused on its narrow deposit products rather than its dominant credit and charge card business, and that internal audit and staffing were inadequate.
The OCC released the bank only from cease-and-desist liability for the described violations and expressly reserved the right to assess civil money penalties or pursue institution-affiliated parties.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 16 claims 20 Oct 2026

DOJ charges 16 non-citizens with illegal voting across North Carolina, New York, Idaho

The Justice Department announced criminal charges against 16 non-citizens in three federal districts for illegal voting, false claims of U.S. citizenship and related election crimes. For compliance and government affairs teams, the item signals the pace and breadth of a coordinated federal enforcement push on non-citizen voting now visible across multiple states in the same week.

Ten non-citizens were charged in the Eastern District of North Carolina for illegally voting in the 2024 elections, most facing counts of both falsely claiming citizenship to vote and voting by an alien.
Five non-citizens were arrested in the Northern District of New York for voter fraud, each charged with voting by an alien in a federal election.
Canadian national Taralynn Bosco, 48, was charged in the District of Idaho with illegal voting by an alien in the 2022 general election.
Several North Carolina defendants are alleged to have voted across multiple cycles, with one record of general-election voting cited back to 1998.
The release carries number 26-1214 and states all defendants are presumed innocent until proven guilty.

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OCC Bulletins Source document ↗

United States OCC Bulletins Financial Crime ✓ 17 claims 20 Oct 2026

OCC fines Bank of America $750 million for BSA failures, its largest penalty ever

The OCC has assessed its largest-ever civil money penalty against Bank of America, N.A., for continued Bank Secrecy Act failures nearly two years after the bank agreed to fix them. The action is coordinated with a FinCEN fine and turns on unmonitored transactions, late suspicious activity reports and a failure to escalate potential money laundering. It matters to anyone managing a BSA/AML program under an existing consent order.

The OCC assessed a $750 million civil money penalty against Bank of America, N.A., which it describes as the largest in OCC history.
The bank remains under a December 2024 cease-and-desist order and, more than a year later, still failed to escalate potentially suspicious activity to investigators.
FinCEN is assessing a separate $1.2 billion fine that credits the OCC's $750 million penalty and requires remedial action.
Cited failures include deficient transaction monitoring across trillions of dollars, late SARs with indicia of money laundering, and processing of potential trade-based money laundering.
The OCC found the BSA Officer and staff lacked sufficient skills and the audit function failed to identify long-standing concerns examiners later uncovered.

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