Regulus — The global regulatory broadcast network

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US Treasury — press releases Source document ↗

United States US Treasury — press releases Financial Crime ✓ 11 claims 1 hr ago

FinCEN alerts banks to $8bn in suspicious cross-border MSB payments

Treasury Secretary Scott Bessent appeared in St. Cloud, Minnesota, alongside FBI, CMS, FTC and Justice Department officials to announce coordinated anti-fraud action. The substance for compliance teams is two FinCEN products: an alert on cross-border payments routed through U.S. money services businesses, and a notice on the exploitation of charities and nonprofits. Both land against a backdrop of Medicaid fraud prosecutions.

FinCEN issued an alert on cross-border payment risks through U.S.-based money services businesses after institutions reported more than $8 billion in potentially suspicious wire payments from 2021 to 2025.
A separate FinCEN notice addresses the exploitation of charities and nonprofits for terrorist financing, fraud and other illicit activity.
The FBI executed search warrants and arrested four people in a 26-count indictment alleging intended Medicaid fraud over $41 million, with actual losses of $21.65 million.
Officials cited a Minnesota Fraud Task Force backed by more than a thousand subpoenas and 40 warrants.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 12 claims 30 Oct 2026

FinCEN issues alerts on cross-border payment risk and charity exploitation

FinCEN published two separate documents on the same day: an alert on suspicious activity linked to cross-border payments through money services businesses, and a notice on exploitation of charities and nonprofits. Compliance teams handling SAR filing and nonprofit account risk-rating should review both.

FinCEN issued an alert on suspicious activity tied to cross-border payments involving U.S.-based money services businesses on October 30, 2026.
The alert states that MSBs' overseas money transmission relationships may give rise to potential risks to the U.S. financial system, and it lists red flags for illicit activity.
FinCEN separately issued a notice to help financial institutions identify and report suspicious activity involving exploitation of domestic and international charities and nonprofits.
The notice states the U.S. government does not view the nonprofit sector as a whole as presenting a uniform or unacceptably high risk.
FinCEN urged financial institutions to apply a risk-based approach and evaluate nonprofit organizations individually rather than treating the sector uniformly.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 22 claims 29 Oct 2026

Six sentenced over $22m laundering in Cuban migrant smuggling and asylum fraud

The DOJ's Criminal Division sentenced five Cuban nationals and one US citizen for running a smuggling organisation that charged migrants up to $40,000, filed fraudulent ESTA and asylum paperwork, and laundered more than $22 million through shell companies. For financial-crime leads, the file is a clean illustration of how smuggling proceeds are layered through corporate vehicles and cross-border payments.

Between 2021 and 2025 the defendants laundered more than $22 million, using multiple shell companies to conceal the source of smuggling proceeds before distributing funds to themselves.
Vega-Perez was sentenced to four years; Vasconcelos, Escalona-Marrero, Pozo-Dutel and Martinez Gonzalez to two years each; and Treto Santos to 30 months.
Escalona-Marrero was ordered to forfeit $2.9 million, Vasconcelos $150,000 and Treto Santos $95,000.
The network filed hundreds of fraudulent ESTA applications with CBP, falsely stating applicants had not been in Cuba since 2011, and assisted over 1,700 fraudulent asylum claims.
Twelve people were charged in a superseding indictment; two co-defendants, Marianny Lucia Lopez-Torres and Frandy Aragon-Diaz, remain at large.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 11 claims 28 Oct 2026

21 state attorneys general sue FinCEN to restore beneficial ownership reporting

A coalition of 21 Democratic state attorneys general is challenging the rollback of beneficial ownership reporting under the Corporate Transparency Act. The suit asks a federal court in Oregon to vacate FinCEN's August rule, halt the planned deletion of data already filed, and force the agency to resume collection. For compliance teams, it reopens a question many treated as settled.

Twenty-one Democratic state attorneys general filed suit in Oregon to reverse FinCEN's rollback of beneficial ownership reporting.
In August, FinCEN finalized a rule removing the BOI reporting requirement for US companies and persons under the Corporate Transparency Act.
FinCEN also announced plans to delete previously reported information from the BOI database.
The lawsuit asks the court to vacate the rule, retain previously reported BOI, and order the agency to resume collection.
The plaintiffs argue the rule exempts all domestic companies, over 99.9% of the entities originally required to report, and amounts to repealing the act by rulemaking.

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ASEANAPOL Source document ↗

Global ASEANAPOL Financial Crime ✓ 12 claims 27 Oct 2026

ASEANAPOL takes four member states to Korea's national counter-scam bureau

ASEANAPOL has started building operational ties between Southeast Asian police forces and South Korea's dedicated anti-scam agency. For compliance leads tracking transnational fraud enforcement, this short study visit signals where cross-border police cooperation on scams is heading, and which four jurisdictions are moving first.

Police delegations from Brunei Darussalam, Malaysia, Singapore and Thailand visited Korea's National Counter Scam Bureau on 23 October 2026.
The visit ran on the sidelines of the first Annual Forum of the International Investigative Cooperation Alliance (IICA) in Seoul.
Participants received an operational briefing and a tour, covering Korea's approaches to combating transnational scam crime.
The Secretariat framed the exchange as a foundation for a future formal study visit involving all ASEANAPOL member countries.
The Royal Thai Police Liaison Officer to the Korean National Police Agency coordinated local transport and hospitality.

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BIS Press Releases Source document ↗

Malaysia BIS Press Releases Financial Crime ✓ 13 claims 27 Oct 2026

BNM deputy governor cites two enforcement actions in DNFBP compliance address

A Bank Negara Malaysia deputy governor's welcoming remarks to the 2026 DNFBP Compliance Conference set out the central bank's current thinking on gatekeeper risk, citing recent enforcement cases and a 2027 national risk assessment. Compliance officers at law firms, company secretarial providers and other designated non-financial businesses should note the regulator's specific examples.

Bank Negara Malaysia and the Companies Commission of Malaysia took enforcement action against a company secretary for failing to submit suspicious transaction reports relating to foreign nationals suspected of involvement in an international scam syndicate.
A Labuan investment bank was subject to joint enforcement action by Bank Negara Malaysia and the Labuan Financial Services Authority over material deficiencies in customer due diligence and delays in submitting suspicious transaction reports.
A UNODC Transnational Organized Crime Threat Assessment for South-East Asia identifies lawyers and accountants among specialist facilitators operating on a contractual basis for criminal networks.
Bank Negara Malaysia will undertake the next iteration of its National Risk Assessment in 2027 to deepen assessment of money laundering and terrorism financing risks facing DNFBP sectors.
The speech marks 25 years since Malaysia's Anti-Money Laundering Act was enacted in 2001 and follows the recent conclusion of Malaysia's Mutual Evaluation.

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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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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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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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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 ✓ 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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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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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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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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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Financial Crime ✓ 27 claims 20 Oct 2026

US arrests Pulido Vargas over two indictments tied to $2bn Venezuela laundering

The DOJ Criminal Division has announced the arrest of Alvaro Pulido Vargas, who faces a Southern District of Florida initial appearance on October 13 to answer two federal indictments from 2019 and 2021. Both allege laundering of bribery and fraud proceeds tied to Venezuelan government programs through the US financial system. For compliance leads, the case is a study in how US jurisdiction attaches to foreign corruption.

Pulido Vargas makes his initial appearance on October 13 in the Southern District of Florida to face two indictments returned in 2019 and 2021.
The 2021 indictment alleges roughly $1.6 billion in CLAP food and medicine contracts secured through bribes, with approximately $180 million transferred through or to the United States; it carries conspiracy and four money laundering counts, each with a 20-year maximum.
The 2019 indictment alleges laundering of approximately $350 million tied to Venezuela's government-controlled currency exchange, charging conspiracy and seven money laundering counts.
Co-defendant Alex Nain Saab Moran, named in the 2019 case, pleaded guilty to a money laundering scheme on September 15, 2026, per related DOJ content.
DEA Miami, FBI Miami and HSI Miami are investigating, with the prosecution forming part of the Homeland Security Task Force established by Executive Order 14159.

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DOJ Criminal Division Source document ↗

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

Falmouth man pleads guilty to laundering proceeds of $6M Medicare DME fraud scheme

A money laundering conspiracy plea that turns on a straw ownership arrangement and bank secrecy. Anzivino fronted a durable medical equipment company whose true owners billed Medicare for braces nobody ordered. The case is short but detailed on how the laundering actually worked, including the moment a bank balked and the funds moved anyway. Useful for anyone building out nominee-ownership and beneficial-ownership controls.

Anzivino acted as the nominee owner of Advanced Medical Supply Corp. while co-conspirators were the actual beneficial owners and managers.
Advanced submitted more than $6 million in Medicare claims for unneeded, unprescribed knee and back braces, and Medicare paid more than $3 million.
After a New Hampshire bank declined to confirm the recipient companies were legitimate, Anzivino opened an account at another bank and wired $1,494,938.09 across three transactions, each over $10,000.
The government seized approximately $353,768.29 in assets tied to the scheme from Advanced's bank account in 2024.
Anzivino is scheduled to be sentenced on January 21, 2027 and faces a maximum penalty of 10 years in prison.

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Amlcft.Bnm Source document ↗

Malaysia Amlcft.Bnm Financial Crime ✓ 19 claims 19 Oct 2026

BNM issues plain-language AML/CFT guide for Malaysian DNFBPs and non-bank financial institutions

Bank Negara Malaysia has published a condensed AML/CFT/CPF guide aimed at designated non-financial businesses and professions and non-bank financial institutions. It walks these sectors through the main obligations under the AMLA and the dedicated policy document: KYC, sanctions screening, risk profiling, enhanced due diligence, suspicious transaction reporting and record retention, with the maximum penalties attached.

The guide binds DNFBPs and NBFIs including lawyers, accountants, trust companies, company secretaries, dealers in precious metals or stones, registered estate agents, licensed casinos and gaming outlets, moneylenders, pawnbrokers, and leasing and factoring businesses.
Firms must screen clients against the Ministry of Home Affairs (MOHA) and UNSCR sanctions lists covering terrorism, proliferation and other UN regimes, and on a positive name match must not commence business, freeze funds and block transactions.
Client risk profiling must assess four factors: client, product or service, geographical location and delivery channel, with enhanced due diligence applied to higher-risk clients.
Records, including KYC information, ID copies, transaction details and any STR analysis, must be kept for at least six years from termination of the business relationship.
Maximum penalties cited under AMLA sections 13, 14, 16 and 17 range up to a RM1 million fine and up to RM3 million or imprisonment up to five years or both.

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Amlcft.Bnm Source document ↗

Malaysia Amlcft.Bnm Financial Crime ✓ 26 claims 19 Oct 2026

Bank Negara tells reporting institutions to apply FATF June 2026 high-risk list

Bank Negara Malaysia has circulated the FATF's June 2026 statements to all reporting institutions under AMLA, restating the obligations attaching to DPRK, Iran and Myanmar, and updating the increased-monitoring list. The circular reiterates a risk-based approach and warns explicitly against de-risking or blanket exits of customer categories, including NPOs linked to listed jurisdictions.

DPRK and Iran remain subject to FATF calls for countermeasures and enhanced customer due diligence, and institutions must continue applying targeted financial sanctions under the relevant UN resolutions.
Myanmar stays subject to enhanced due diligence, and the FATF will consider countermeasures if no further progress is made by October 2026.
Bosnia and Herzegovina and Iraq were added to the FATF's grey list, while Algeria and Namibia were removed following significant progress.
BNM requires institutions to apply a risk-based approach and avoid de-risking or blanket exits of customer categories such as NPOs linked to listed jurisdictions.
For grey-list jurisdictions the FATF does not call for enhanced due diligence; institutions must assess each jurisdiction case-by-case in their risk assessments.

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Brdr.Hkma Source document ↗

Hong Kong Brdr.Hkma Financial Crime ✓ 17 claims 19 Oct 2026

HKMA tells banks to close gaps on high-end money laundering after thematic review

The HKMA has issued a circular to all Authorized Institutions setting out findings from a thematic review of controls against sophisticated money laundering. It describes two live typologies, five areas needing enhancement, and asks firms to run a gap analysis. For heads of financial crime, it signals where HKMA supervisors will probe next, particularly on retail high-net-worth customers and source-of-wealth corroboration.

The HKMA identified two typologies: syndicates using retail accounts as a gateway to move funds across wealth management and private banking, and criminals using citizenship-by-investment nationalities to open accounts across jurisdictions for cross-border transfers.
Reviewers found retail high-net-worth customers were subject to weaker CDD than private banking clients despite very similar ML/TF risk, and want periodic portfolio monitoring with proportionate additional measures.
Some front-line staff overrelied on customer representations when establishing source of wealth and funds, without challenging reasonableness or seeking corroborating documentation.
Certain transaction monitoring alerts were closed without sufficient justification, including those triggered by opaque cash or cashier's order deposits and transactions with no customer nexus.
AIs are directed to conduct a gap analysis against the five enhancement areas and consider optimising their AML/CFT controls.

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Brdr.Hkma Source document ↗

Hong Kong Brdr.Hkma Financial Crime ✓ 19 claims 19 Oct 2026

HKMA rewrites remote on-boarding rules for individual customers, citing deepfake fraud

The HKMA has updated its expectations for remotely on-boarding individual customers, replacing two earlier circulars. It restates two core principles for identity authentication and matching, warns specifically about deepfake-enabled impersonation and mule accounts, and tells authorized institutions and stored value facility licensees to review their systems against intelligence shared with the Hong Kong Police Force.

The circular supersedes the HKMA's remote on-boarding circulars of 1 February 2019 and 24 May 2021 for individual customers.
The 2020 corporate on-boarding circular and the June 2020 thematic-review feedback circular remain applicable and should be read alongside this letter.
Firms must satisfy two core principles: verifying the genuineness of identity documents and incontrovertibly linking the customer to that identity.
The HKMA cites deepfake technology, AI-driven automation and mule-account networks as escalating ML/TF threats to remote on-boarding.
AIs and SVF licensees are told to conduct a comprehensive review of remote on-boarding solutions, systems and oversight.

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AMF France Source document ↗

AMF France Financial Crime ✓ 21 claims 19 Oct 2026

AMF publishes 2022-2025 review of AML controls, citing 16 sanctions among 46 cases

The AMF has released the lessons from four years of inspections carrying an anti-money-laundering, counter-terrorist-financing and tax-information-exchange component. It sets out where French asset managers and investment advisers keep falling short, from incomplete procedures to weak oversight of delegates, and signals a risk-based enforcement stance as AMLA's European supervision takes shape.

The synthesis covers 46 controls producing follow-up between 1 January 2022 and 31 December 2025, yielding 16 sanction decisions, 16 administrative settlements and 16 remediation letters, with some controls drawing mixed outcomes.
The AMF identifies incomplete or poorly adapted LCB-FT procedures and insufficiently personalised risk mapping that fails to link identified risks to actual vigilance measures.
Inspectors flagged weak oversight of delegates, distributors and third parties conducting customer due diligence, plus gaps in collecting and updating beneficial-owner, source-of-funds and PEP data.
The review stresses shortcomings in suspicious-transaction reporting to TRACFIN and reporting to the AMF, and in meeting automatic tax-information-exchange (EAI) obligations.
The AMF ties the publication to its 2026 supervision priorities, the Impact 2027 strategy and the phased establishment of the EU anti-money-laundering authority AMLA, created in June 2024.

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European Commission — Migration and Home Affairs Source document ↗

European Union European Commission — Migration and Home Affairs Financial Crime ✓ 14 claims 19 Oct 2026

EU signs Additional Protocol to Warsaw Convention on asset recovery and money laundering

The EU has signed the Additional Protocol to the Council of Europe's Warsaw Convention, updating a 2009 framework on laundering, seizure and confiscation. This segment covers what the Protocol adds, why Brussels is pursuing it, and the ratification steps still outstanding before any of it binds authorities or firms.

The EU signed the Additional Protocol to the Warsaw Convention on 14 October 2026 in Strasbourg.
The Protocol strengthens rules on freezing and confiscation, asset management, and police and judicial cooperation.
Georgia, Greece, Hungary, Luxembourg, Monaco, Montenegro, San Marino and the UK also signed the Protocol.
The Protocol was adopted by the Council of Europe Committee of Ministers on 15 May 2026 and is not yet in force.
Conclusion requires a Council decision and the consent of the European Parliament; the 2009 Convention remains unratified.

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Regulus Weekend Edition Source document ↗

Global Regulus Weekend Edition Financial Crime ✓ 20 claims 18 Oct 2026

AMLA roundtable sign-up closes Sunday; ESMA messaging mandate bites 7 December

A look at the deadlines and decisions ahead. The sole hard deadline this week is AMLA's Frankfurt roundtable sign-up, closing Sunday. Beyond it, ESMA's first T+1 compliance date, a pending Fed extension decision on stablecoin rules, and Basel's G-SIB timetable all reward reading each regime backwards from its earliest binding date rather than its headline event.

Expressions of interest for AMLA's Frankfurt simplified-CDD roundtables close 18 October 2026 at 23h59 CEST, with in-person sessions running 9 November to 2 December 2026.
ESMA's first binding T+1 deadline, mandatory electronic allocation and confirmation messaging, falls on 7 December 2026, ahead of EU T+1 settlement on 11 October 2027.
Four US banking groups have asked the Fed to move its 30 November stablecoin comment deadline to 29 January, and that decision is still pending.
Basel's EUR 350 billion G-SIB reporting threshold takes effect from 2027, its EBU cross-border consultation closes 14 January 2027, and annual averaging is deferred to 1 January 2030.
The SRB has scrapped quarterly MREL sign-off with immediate effect.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Financial Crime ✓ 15 claims 18 Oct 2026

ABA names Robertson and Boyer for Distinguished Service Awards in AML/CFT and fraud

The American Bankers Association has announced its Distinguished Service Awards for AML/CFT and fraud management. The recognitions went to two senior financial-crime practitioners for contributions to professional education and industry collaboration. This is a professional-recognition item rather than a rule change, but it signals where the industry's trade body places weight in its financial-crime training and community-building work.

Rebecca Schauer Robertson of Blue Ridge Bank received the ABA Distinguished Service Award for AML/CFT, recognizing a 30-year career in financial services.
Karen Boyer of M&T Bank received the ABA Distinguished Service Award for Fraud Management, cited for work on payment threats, social engineering, scams and account takeover.
Both were honored on October 14, 2026 at the ABA AML and Fraud Conference in Arlington, Virginia.
Robertson served on the founding boards of the Certified AML and Fraud Professional certification and the ABA AML and Fraud School, and helped design the school's curriculum.

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CSSF Luxembourg Source document ↗

European Union CSSF Luxembourg Financial Crime ✓ 10 claims 18 Oct 2026

AMLA calls stakeholders to Frankfurt roundtables on simplified customer due diligence

AMLA is running sectoral roundtables on simplified customer due diligence, and Luxembourg's CSSF is pushing firms to take part. The sessions will shape draft guidelines meant to standardise how simplified CDD is applied across the EU. The window to express interest is short and the meetings are in person only, so this segment covers who should engage and by when.

AMLA will organise sectoral roundtables on simplified customer due diligence, held in person in Frankfurt am Main between 9 November and 2 December 2026.
Expressions of interest must be submitted by 18 October 2026 at 23h59 CEST.
Feedback from the roundtables will inform draft guidelines on proportionate application of simplified CDD across the EU.
The CSSF strongly encourages Luxembourg professionals and their representative bodies to participate.

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SFC Hong Kong Source document ↗

SFC Hong Kong Financial Crime ✓ 12 claims 16 Oct 2026

SFC to hold two AML/CFT webinars for intermediaries on 12-13 November 2026

The SFC has announced a two-session AML/CFT webinar covering regulatory updates, supervisory observations, scam typologies and suspicious transaction reporting feedback. Compliance officers and management with AML/CFT responsibility should note the enrolment deadline and the firm-level cap on attendee numbers before registering.

The SFC will host AML/CFT webinar sessions on 12 and 13 November 2026 via Zoom.
Each firm may submit only one enrolment form, due by 27 October 2026.
Enrolment is capped at a maximum of two representatives per firm.
Places are allocated first-come, first-served, with first nominees prioritised ahead of second nominees.
Attendees completing the whole session can earn 2.5 Continuous Professional Training hours.

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HM Revenue & Customs Source document ↗

United Kingdom HM Revenue & Customs Financial Crime ✓ 17 claims 15 Oct 2026

HMRC to reject agent account applications without approved anti-money laundering supervision

HMRC's guidance on the agent services account now carries two binding changes for tax advisers: a legal requirement to register before interacting with HMRC on clients' behalf, and a rule that applications will be rejected where anti-money laundering supervision has been applied for but not yet approved. This matters to any firm dealing with HMRC on behalf of paying clients.

From 18 May 2026, tax advisers who interact with HMRC on behalf of clients face a legal requirement to register for an agent services account.
From 1 October 2026, HMRC will reject ASA applications where AML supervision has been applied for but not yet approved; approved supervision must be in place first.
Applicants must supply their AML supervisory body name and proof of supervision, and applications are measured against the HMRC Standard for Agents.

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OCC Bulletins Source document ↗

United States OCC Bulletins Financial Crime ✓ 12 claims 15 Oct 2026

US regulators clarify how banks may use mobile driver's licences under CIP Rule

The OCC, FinCEN, Federal Reserve, FDIC and NCUA have jointly issued FAQs on treating verifiable digital credentials, including state-issued mobile driver's licences, under the Customer Identification Program Rule. This segment covers what the guidance addresses, who it binds, and why onboarding and BSA teams should read the underlying document before relying on digital ID at account opening.

Interagency FAQs issued September 8, 2026 by the OCC, FinCEN, Federal Reserve, FDIC and NCUA on verifiable digital credentials under the CIP Rule.
Guidance covers the definition of a VDC, application of the CIP Rule at 31 CFR 1020.220, and amended terminology in previously issued FAQs.
Applies to all national banks, federal savings associations and federal branches and agencies, including community banks with up to $30 billion in assets.

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SFC Hong Kong Source document ↗

SFC Hong Kong Financial Crime ✓ 18 claims 11 Oct 2026

SFC fines Zheng Da $7 million over client-supplied trading systems and AML control gaps

The SFC fined a Hong Kong futures broker and suspended its responsible officer over anti-money-laundering failures tied to client-supplied trading systems connected via API. Worth a few minutes to see how CSS-through-API arrangements and the Manager-In-Charge regime are being enforced, and why carrying on despite peer enforcement aggravated the outcome.

Zheng Da reprimanded and fined $7 million for AML/CFT and other failures between 1 December 2021 and 30 September 2023.
Responsible officer Zhong Hao suspended for seven months, from 28 September 2026 to 27 April 2027.
SFC found no due diligence or testing on customer-supplied systems used by 160 clients, and 176 undetected same-second matched buy/sell orders.

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