The United Kingdom is preparing to spend 500 million pounds and hire hundreds of new financial crime specialists as it shifts its anti-money-laundering strategy from pursuing individual offenders toward disrupting the increasingly technology-enabled financial networks that allow illicit money to move. The U.K. government on...
The New York State Department of Financial Services (DFS) secured a $50 million penalty from Swedbank AB and its New York branch in a case in which the regulator alleged that the bank withheld information from investigators. The settlement resolves a DFS investigation into Swedbank’s compliance with...
Wise is facing an investigation in Europe related to possible criminal usage of its services. The money transfer company confirmed the investigation in a statement issued Monday (June 1), following a report from the The Bureau of Investigative Journalism that the Public Prosecutor’s office in Belgium...
Australia’s financial crime watchdog says AI is making money launderers’ jobs easier. In a report issued Tuesday (May 12), the Australian Transaction Reports and Analysis Center (AUSTRAC) said the country’s money laundering, terrorism and proliferation financing (PF) risks are becoming more complicated and interwoven due to technology, globalization and...
November 22, 2023
Cryptocurrency exchanges play a vital role in the digital asset ecosystem. They facilitate the buying, selling, trading, transferring, and storing of both individual and institutional holdings of the more than 20,000 crypto tokens in circulation. The role they play, however, is rarely without governmental scrutiny and increasingly legal consequences. From the U.S. Securities Exchange Commission […]
March 14, 2023
The year 2022 was one of the most tumultuous in the cryptocurrency industry’s brief history. It was a record year for another reason, too, as illicit crypto transactions hit a...
July 06, 2022
Where consumers once had to wait for payments to post, they now expect their money to move instantly between accounts. Maximum money mobility is the new imperative of a digital-first...
March 23, 2022
Digital identities are becoming more prevalent as awareness of their security and convenience grows, and they are expanding into new use cases like anti-money laundering (AML). This crime has ballooned...
September 22, 2026
Some of the world’s largest banks have reportedly handled billions of dollars for a Kremlin-backed FinTech that used forgery to enter the international financial system. An investigation by the Financial Times (FT) published Monday (Sept. 21) found that A7, a company established as an alternative to western payment systems, used “old-fashioned money laundering” to move […]
July 27, 2026
The New York State Department of Financial Services (DFS) secured a $50 million penalty from Swedbank AB and its New York branch in a case in which the regulator alleged that the...
June 01, 2026
Wise is facing an investigation in Europe related to possible criminal usage of its services. The money transfer company confirmed the investigation in a statement issued Monday (June 1), following a...
May 12, 2026
Australia’s financial crime watchdog says AI is making money launderers’ jobs easier. In a report issued Tuesday (May 12), the Australian Transaction Reports and Analysis Center (AUSTRAC) said the country’s money laundering, terrorism and...
