The US Treasury Department has issued stark warnings to banks in the United Arab Emirates, Hong Kong, China, and Oman for facilitating Iran’s sanctions circumvention via financial transfers, urging asset freezes and enhanced compliance. In response, Iran reportedly advises its citizens to use banks in Spain, Russia, China, and Turkey amid escalating geopolitical tensions. U.S. Treasury Issues Urgent Sanctions Warning The United States Department of the Treasury has delivered

The Central Bank of Libya has issued a warning over the continued failure to adopt the draft law on combating money laundering, saying the delay could expose the financial system to growing risks and weaken efforts to fight illicit finance. The bank discussed the issue during a meeting focused on the dangers created by the absence of an updated legal framework, according to reporting from local media. The warning reflects a broader concern that gaps in AML legislation can lea

Kathmandu, Nepal – Nepal Police have arrested high‑profile businessman Deepak Bhatta, widely described as a “power broker” with close ties to senior political and bureaucratic figures, in connection with a widening money‑laundering investigation. The move, carried out by the Central Investigation Bureau (CIB) and followed by a 10‑day court‑ordered remand, signals a significant escalation in Nepal’s efforts to crack down on financial crime and politically connected business el

Crypto will be regulated in the UK from October 2027. The FCA is finalising the wider cryptoasset regime, with rules to be published this summer. Parliament has now confirmed which cryptoasset activities will fall within the scope of regulation. Building on that, the FCA is consulting on new guidance to help firms understand how they might be affected by the regulatory regime for cryptoassets. The FCA is seeking feedback on its interpretation of the following regulated crypto

Campaign 1 - Low SMR reporting by foreign bank branches in Australia  AUSTRAC CEO Brendan Thomas said the foreign bank branches campaign found an entrenched view among many branches that their businesses are low risk for money laundering.  “Although some parts of these businesses may constitute lower levels of risk, many of them have exposure to higher risks areas as well,” Mr Thomas said.  This includes providing services to foreign politically exposed persons (PEPs) and rel

Federal prosecutors have indicted ten executives and employees from four cryptocurrency market-making firms in a coordinated international operation targeting widespread fraud. The charges, unsealed in Oakland, California, focus on schemes to artificially boost trading volumes and prices through wash trading and pump-and-dump tactics. Three defendants appeared in court after extradition from Singapore, marking a significant escalation in U.S. enforcement against crypto market

Four federal financial regulatory agencies have issued a joint notice seeking public comments on a proposed rule to overhaul anti-money laundering (AML) and countering the financing of terrorism (CFT) programs for supervised institutions. This initiative aligns with FinCEN’s concurrent proposal, stemming largely from the Anti-Money Laundering Act of 2020 (AML Act). The move aims to foster effective, risk-based compliance frameworks amid evolving illicit finance threats. Backg

Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control issued a joint proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposed rule, which implements the GENIUS Act’s anti-money laundering and sanctions compliance program requirements, encourages innovation in payment stablecoins while providing an appropriately tail