Year: 2026

Taiwan and Singapore Add to Growing Action Against Alleged Cambodian Crime Group

Fraud
The Taipei District Prosecutors Office announced Wednesday that it has indicted 62 individuals and 13 companies and seized more than $170 million in assets linked to Prince Group, heightening global action against the Cambodia-based conglomerate accused of running extensive online fraud operations. Included among the three principal defendants in the Taiwanese charges is Chen Zhi, the chairman of Prince Group who was extradited from Cambodia to Beijing earlier this year Chen Zhi’s legal representatives did not respond to a request for comment before publication. The Prince Group has said allegations made by U.S. and U.K. authorities are “baseless and appear…

Tunisia Jails Ex Prime Minister and Billionaire in Major Corruption Ruling

Corruption, Prosecutions
A Tunisian court has handed prison sentences to former Prime Minister Youssef Chahed, businessman Marouan Mabrouk—the son-in-law of former President Zine El Abidine Ben Ali—and several other former ministers on corruption charges. Chahed, who served as prime minister between 2016 and 2020, was sentenced Monday to six years in prison, along with former ministers including the foreign minister, finance minister, state property minister, human rights minister, and information and communications technology minister, the state-run TAP news agency reported Tuesday, citing a judicial source. The court also ordered each defendant to pay a fine of 800 million dinars (about $276 million).…

U.K. Lifts Sanctions on British Financier Tied to Russia’s Shadow Fleet

Sanctions
The U.K. government this week lifted sanctions against a British financier who purchased ships that later became part of Russia’s so-called shadow fleet, following his public warning that others should avoid any business dealings that could support Moscow. John Michael Ormerod, 75, was added to the U.K. sanctions list in May 2025 after acquiring dozens of second-hand tankers that Lukoil, Russia’s second-largest oil producer, used to transport billions of dollars’ worth of oil. In a February statement, Ormerod said the designation — a rare case of a Western government sanctioning one of its own citizens — had a “devastating impact”…

Report Describes Crypto’s $350 Billion Shadow War

Sanctions
Crime syndicates and hostile states — specifically Russia, North Korea and Iran — are increasingly turning to cryptocurrency to launder money and evade sanctions, according to a new report that estimates $350 billion has been laundered globally between 2005 and 2025. The study, Confronting the Illicit-Finance Hydra in Crypto Markets: Protecting Retail Investors and Disrupting Hostile Government Exploitation, examined 164 documented money-laundering cases over the past two decades. It found that cryptocurrency has enabled designated individuals, terrorist groups and entire countries to sidestep sanctions and “process billions of dollars, either voluntarily or involuntarily.” In an interview with Organized Crime and…

Jailed Istanbul Mayor İmamoğlu Faces Mass Corruption Trial

Corruption, Prosecutions
The imprisoned former mayor of Istanbul, Ekrem İmamoğlu, appeared in court on Monday to face sweeping corruption and organized crime charges in a mass trial that rights groups say is politically motivated and could result in a prison sentence of more than 2,000 years. İmamoğlu, a leading rival of President Recep Tayyip Erdoğan, is being tried alongside more than 400 co-defendants, most of them officials or associates tied to the Istanbul Metropolitan Municipality, which he has led since 2019. Prosecutors accuse him of heading a criminal organization that allegedly used municipal contracts, bribery and rigged tenders to generate money and…

Sanctioned Alleged Member of ‘Criminal’ Conglomerate Bought $17 Million in London Properties

Sanctions
An alleged member of Prince Group — the Cambodia-based conglomerate the U.S. calls a “transnational criminal organization” — owns at least $17-million worth of London properties, company and land records show. Yang Jian was named in a sanctions notice last year in a list of 146 U.S. Department of the Treasury targets for alleged online fraud and human trafficking by the Prince Group. Records show that Yang Jian purchased a dozen house units and at least 17 car parking spaces in an adjoining garage through a U.K. company he established with his Cypriot passport in December 2021. Conveyancing documents filed…

AI Accelerates UK Fraud Cases to a Record 444,000 in 2025

Fraud
Fraud in the United Kingdom surged to unprecedented levels in 2025, with reported cases hitting a record 444,000, according to new data released Thursday by the fraud prevention service Cifas. In its annual Fraudscape report, the agency noted that an average of more than 1,200 fraud cases were recorded daily. Identity fraud remained the most prevalent threat, accounting for 54 percent of all filings, followed by misuse of facility, which represented 24 percent of cases. The agency cautioned that fraud has become an industrialized, cross-border threat, with criminal syndicates now “mimicking the size and structure of large corporations,” according to…

German Prosecutors Target Providers of Software Used to Steal Millions in Online Trading Scams

Fraud
In a sign that prosecutors in Germany’s Bamberg region are ramping up efforts to fight cybercrime, a court has begun hearing its second case involving a person accused of providing software allegedly designed to facilitate fake investment scams. While legal action has most often targeted people running cyberfraud operations, Bavaria’s Bamberg Regional Court this month began another trial of someone who ran a company that allegedly enabled scammers. Opening arguments began on March 2 in the trial of a man identified only as “Shay B.” To protect privacy, full names are typically not disclosed to media in German trials. He…

France’s Ex-President Sarkozy Appeals Conviction in Libya Corruption Case

Corruption, Prosecutions
Anti-corruption watchdogs are closely monitoring the historic appeals trial of former French President Nicolas Sarkozy this week, pointing to his conviction for soliciting illegal campaign cash from the Libyan dictator Muammar Gaddafi as a stark reminder that top-level political graft is never a victimless crime. The 71-year-old former president is challenging a September ruling that sentenced him to five years in prison, a 100,000-euro (about $117,000) fine and a five-year ban from public office. He was acquitted on several other counts due to insufficient evidence, and ultimately spent only 20 days behind bars before an appeals court ordered his release.…

Philippine Vice President Faces Impeachment Over Corruption and Assassination Threats

Corruption, Prosecutions
Philippine lawmakers on Wednesday opened formal impeachment hearings against Vice President Sara Duterte, initiating a high-stakes political showdown fueled by accusations of massive corruption and extraordinary threats to assassinate President Ferdinand Marcos Jr. The proceedings represent a stunning rupture between the country’s two top leaders. Duterte, 47, faces a litany of severe charges, most notably the alleged embezzlement of 612.5 million pesos (about $10.19 million) in confidential government funds during her first 18 months in power. According to reporting by OCCRP’s media partner in the Philippines, Rappler, the sweeping complaints transmitted to the House of Representatives include financial fraud, corruption…

A Billion-Dollar Casino Scheme and a Murder in Cambodia Expose Taiwan’s Underworld

Financial Crime
In a stark illustration of the sprawling scale and violent stakes of Taiwan’s criminal underworld, authorities announced the indictment of 10 individuals in a $1.03 billion money laundering scheme on the same day a notorious gambling fugitive was assassinated in Cambodia. The twin developments highlight how Taiwanese illicit financial networks routinely exploit regional borders to wash illegal proceeds and evade justice across Southeast Asia. According to a statement from the Yunlin District Prosecutors Office, a sophisticated criminal syndicate successfully laundered more than NT$33 billion ($1.03 billion) in illegal gambling profits by exploiting credit card loopholes on the gaming floors of Macau,…

Arrest made in multi-million pound waste packaging fraud case

Fraud, Money Laundering
An individual in Birmingham has been arrested as part of an investigation into waste plastic packaging fraud and money laundering, the Environment Agency has announced today (Thursday 26 March 2026). In a dawn operation taking place yesterday (Wednesday 25 March 2026), officers from the Environment Agency worked with West Midlands Police to arrest a 49 year old man for conspiracy to defraud and money laundering. The arrest relates to a complex investigation which involves fraud within the Packaging Producer Responsibility (PPR) regime. This is a system that allows exporters and reprocessors, accredited by the Environment Agency, to sell credits for…

INTERPOL report warns of increasingly sophisticated global financial fraud threat

Financial Crime
Financial fraud is now one of the world’s most severe and rapidly evolving transnational crimes, with significant economic and human consequences.The 2026 INTERPOL Global Financial Fraud Threat Assessment warns that with increased global criminal collaboration, fraud is no longer a peripheral threat, it is at the centre of polycriminality, intersecting with organized crime, human trafficking and cybercrime.Key findings include:AI-enhanced fraud is 4.5 times more profitable than traditional methods. “Agentic AI” systems can autonomously plan and execute complete fraud campaigns – from reconnaissance to ransom demands.Sextortion is now being systematically integrated into scams such as romance and investment fraud often using…

Major operation targets one of Scotland’s most violent crime networks

Organised Crime
One of Scotland’s most violent organised crime networks has been hit in an international operation across Spain, Türkiye, and the United Kingdom, with coordination from Europol and Eurojust. On 27 March 2026, authorities arrested 13 suspects linked to a network suspected of moving hundreds of kilograms of cocaine into Scotland and laundering millions in criminal profits. The action day brought together authorities from Spain and the United Kingdom, with Europol deployed on the ground to support the enforcement phase. Authorities from the United Arab Emirates and Türkiye also contributed to the operation.Open in modalMajor operation targets one of Scotland’s most…

New sanctions to crackdown on large-scale fraud

Fraud
The Isle of Man has brought in new sanctions as part of an international crackdown on a criminal network linked to large-scale online fraud and human trafficking, the government has said.The Treasury said measures were in line with the UK and formed part of a wider operation involving the US and other international agencies.It said the sanctions aimed to target individuals and organisations linked to purpose-built “scam compounds” in south east Asia, where trafficked people were forced to carry out online fraud.Home Affairs Minister Jane Poole-Wilson said: “Working with our international partners is essential in tackling serious criminal groups.”She said:…

Star’s former CEO and lawyer broke Corporations Act, Chinese money laundering case judgement find

Money Laundering
Star’s former top boss and its legal counsel both breached their director’s duties during the casino’s scandalous Chinese money laundering era, the Federal Court has found. In a seething judgement, Justice Michael Lee found only partly in favour of the corporate regulator ASIC, which bought the case against a group of Star executives and directors in 2022. ASIC’s case was filed after news of the explosive money laundering scandal broke at Australia’s second biggest casino. The culture of senior management was “dysfunctional” and “unethical”, Justice Lee noted in his remarks. He added that it fell to investigative journalism and a…

Action against EUR 306 million money laundering network

Money Laundering
Following investigations into a criminal group suspected of laundering at least EUR 306 million of illicit profits from drug trafficking and other crimes, 13 people have been arrested in France and Romania. Investigations coordinated through a joint investigation team at Eurojust revealed that the group had been operating in France and Romania between 2018 and 2024. Consisting of dozens of members operating from Romania and France, the criminal group is suspected of having laundered illicit profits from crimes such as drug trafficking. They set up a sophisticated international operation involving multiple legal entities in France, which they took over and…

Europe’s anti-money laundering body set to be fully operational in 2028

Money Laundering, Regulation
BRUSSELS, Feb 4 (Reuters) – The European Union’s new agency formed to fight dirty money said on Wednesday it was on track to be fully operational in 2028, as it set out its plan to tackle emerging illicit finance risks including crypto and “novel payment channels”.The Anti-Money Laundering Authority (AMLA) is being established in Frankfurt, creating the first Europe-wide body to fight illegal financial flows.Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.From 2028, AMLA will directly supervise 40 EU financial institutions judged to present the biggest risk. AMLA…

8 African economies facing heightened global scrutiny over money laundering controls in February 2026

Money Laundering
Eight African countries are under ‘increased monitoring’ by the Financial Action Task Force (FATF), known as the grey list.Grey listing does not impose sanctions but signals to global financial institutions that enhanced scrutiny is required.Each grey-listed country, including Algeria, Angola, Cameroon, Côte d’Ivoire, DRC, Kenya, Namibia, and South Sudan, is undertaking specific reforms to strengthen regulatory frameworks.For emerging African economies, exiting the grey list is seen as a significant milestone signaling stronger regulation. When it places a country under increased monitoring, it means the jurisdiction has identified strategic weaknesses in its financial crime prevention systems and has formally committed to…

MONEYVAL calls on Guernsey to step up efforts against money laundering

Money Laundering
The Council of Europe’s anti-money laundering body, MONEYVAL, has published a report urging Guernsey to improve the investigation, prosecution and conviction of money laundering offences whilst also highlighting Guernsey’s good understanding of the risks of money laundering/terrorist financing and its highly effective application of targeted financial sanctions. The report commended Guernsey’s Financial Intelligence Unit for producing high-quality analytical products and strategic analysis, while acknowledging the limited extent to which they are used by law enforcement authorities to initiate investigations. The quality of suspicious activity reports also remains a concern. Guernsey is expected to report back to MONEYVAL, under MONEYVAL’s regular…

Reporter’s Notebook: How to Investigate Shadow Fleets

Sanctions
In the world of maritime trade, some ships play a dangerous game of hide-and-seek. They rapidly change flags, shift ownership, and even cut their tracking systems mid-voyage. These “dark fleet” tactics are often employed by vessels involved in nefarious activities such as sanctions evasion, arms trafficking or illegal fishing. At first sight, the trail of such ships can appear hard to follow. Yet the evidence is often still there, scattered across open sources. With perseverance, it can be possible to uncover more information about who is behind these shadowy vessels. As an example, we’ll walk you through some of the…

Cash rules everything in the age of money laundering

Money Laundering
For years, investigative journalists have salivated over that old heuristic “follow the money”. Deep Throat’s instruction to Robert Redford’s Bob Woodward in All the President’s Men, delivered in a shadowy car park, has become the North Star for uncovering financial crime and corruption. In his alarming new book, Everybody Loves Our Dollars, Oliver Bullough makes a compelling case that we’ve been looking in the wrong direction. To truly understand the global money-laundering industry, he argues, you need to think a lot bigger. Criminals today have sophisticated ways of making money disappear, “like a wizard in the Harry Potter books” –…

Understanding the hidden links between human trafficking and corruption

Corruption, Human Trafficking
Around the world, traffickers rely on public officials and private actors who collude, accept bribes or simply look the other way. This hidden alliance allows organized crime to flourish, victims to remain trapped and justice to be obstructed.To understand how these two crimes are connected, we uncover the hidden role corruption plays in enabling human trafficking: What is the link between corruption and human trafficking? Human trafficking involves the exploitation of people through forced labour, sexual exploitation, organ removal, or coerced criminality. Corruption enables traffickers to operate at scale, providing them with documents, protection and silence. Without corruption, trafficking networks…

US Bars Palau Senate Leader Over Alleged China Ties

Bribery
The U.S. barred the president of Palau’s Senate from entering the country over allegations he accepted bribes to promote the interests of China’s government and criminal figures. The U.S. State Department has barred the president of Palau’s Senate from traveling to the United States over allegations that he accepted bribes to advance the interests of China’s government and Chinese criminal figures, according to a department statement. The travel ban announced Tuesday targets Hokkons Baules, the president of Palau’s Senate, and Anderson Jibas, a former mayor from Marshall Islands. “Baules abused his public position by accepting bribes in exchange for providing…

Korea’s Financial Intelligence Unit Sets 2026 Anti-Money Laundering Priorities

Money Laundering
Key Takeaways Freezing Criminal Funds, Faster: KoFIU wants the authority to freeze accounts tied to serious livelihood crimes without waiting for court orders, aiming to cut off criminal proceeds before they disappear.Cross-Border Crime Moves to Center Stage: International criminal groups would be added to prohibited transaction lists, alongside deeper coordination with foreign counterparts and FATF-led initiatives.Crypto Oversight Tightens Again: The travel rule would extend to lower-value transactions, with closer scrutiny of transfers involving personal wallets and overseas exchanges.AML Accountability Shifts Upward: Financial institutions would need to place clear AML responsibility on a senior executive, backed by mandatory evaluations and clearer…

Chinese Crypto Scam Fugitive With St. Kitts Passport Owns Dubai Property

Money Laundering, Regulation
Daren Li, who has fled a 20-year sentence for for his alleged role in stealing and laundering $73 million in Cambodia-based cryptocurrency scams, rents out a villa in Dubai Daren Li, a Chinese and Saint Kitts and Nevis national on the run from a 20-year United States prison sentence for his role in a large Cambodia-based cryptocurrency scam operation owns property in Dubai, real estate records show. Tenancy contract data shows that under his Saint Kitts passport, Li owns a five bedroom residential villa in Wadi Al Safa 7, a gated community in Dubai’s suburbs. As of last year, this…

AMLA Lays Out Its 2026–2028 Game Plan as Europe’s New AML Regulator Moves Toward Full Operations

Regulation
Key Takeaways AMLA Moves From Setup to Delivery: The 2026–2028 Single Programming Document marks AMLA’s transition from institutional build-out to operational supervision at EU level.Three Pillars Will Shape EU AML Oversight: AMLA’s priorities center on completing the Single Rulebook, driving supervisory convergence, and strengthening cooperation among Financial Intelligence Units.2026 Is the Inflection Point: The Authority will focus on turning mandates into practice through direct supervision, FIU framework implementation, and the foundations for indirect oversight.Early Signals for the Market: By prioritising clarity on areas such as customer due diligence and supervisory consistency, the SPD gives firms advance notice of where expectations…

Corruption Threatens Democracies Worldwide, Transparency International Warns

Corruption
Transparency International’s 2025 Corruption Perceptions Index shows a world where democratic institutions are weakening, civic space is shrinking, and corruption is rising—from Europe and the Americas to Asia, Africa, and the Pacific. Nepal’s Post-Uprising Election: Anti-Corruption Promises Vs Public SkepticismNepal is heading to polls on March 5 to democratically replace its government toppled by “Gen Z” protests six months ago. Every major political party is promising specific ways to end corruption, but the voters are questioning what they will deliver.Corruption is surging worldwide, threatening public trust, enabling organized crime, and weakening democratic institutions, Transparency International warned Tuesday in its 2025…

As AMLA Takes Shape, ECB Signals a New Era of Coordinated Financial Crime Supervision

Regulation
Key Takeaways AMLA Centralizes AML Supervision: The new EU authority will reduce national fragmentation and assume direct oversight of higher-risk institutions from 2028.Financial Crime Is a Prudential Risk: Weak AML controls can expose banks to governance, operational, legal and reputational risks that threaten safety and soundness.ECB and AMLA Formalize Cooperation: A 2025 Memorandum of Understanding sets the framework for information exchange, policy coordination and supervisory alignment.Digitalization Raises Both Risk and Opportunity: Cyber-enabled fraud and crypto-asset activity heighten exposure, while artificial intelligence offers enhanced detection tools.Implementation Is the Next Test: The effectiveness of Europe’s new AML architecture will depend on coordinated,…

Malaysia Seizes Millions in Cash and Gold in Military Procurement Probe

Corruption
Malaysia’s anti-corruption authorities said they had seized millions of dollars in cash, gold and luxury goods and frozen company bank accounts as part of a widening investigation into alleged corruption in military procurement, an inquiry that has ensnared senior armed forces figures and civilian contractors. The Malaysian Anti-Corruption Commission said the investigation focuses on two related cases involving suspected bribery, abuse of power and money laundering. At a news conference, Azam Baki, the agency’s chief commissioner, said 23 people — including military personnel and civilians — had been arrested so far. In the larger of the two cases, investigators seized…

UK Authorities Raid a Housing Company in Multi-Million-Pound Fraud Probe

Fraud
Britain’s Serious Fraud Office (SFO) on Wednesday arrested six people and searched seven sites in an operation conducted as it announced a bribery and fraud investigation into the former management of Home REIT, a UK-listed social housing company. The suspected wrongdoing is valued at about 300 million pounds (nearly $404 million). Investigators, supported by the National Crime Agency, carried out searches at homes in Altrincham, Maidenhead and London, and a commercial site in Manchester. Italy’s Guardia di Finanza also searched a property in Venice as part of the inquiry. Home REIT, which listed on the London Stock Exchange in 2020,…

How Cambodia Became A Haven For Criminals

Fraud
Cambodia is a global epicenter for scam centers, home to one of the biggest synthetic drug labs ever detected, and its citizens have been involved in an array of Southeast Asia’s most infamous — and lucrative — transnational crimes. Meanwhile, “corruption and official complicity” enables “endemic” human trafficking involving tens of thousands of victims, according to the U.S. State Department. Cambodia’s government, which did not respond to questions from OCCRP, has launched a crackdown on scam factories and says it has made thousands of arrests. It also signed agreements to strengthen anti-money laundering measures last year. Even so, international observers…

Nepal Court Seeks Explanation for Dropping Money Laundering Case Against Ex-Home Minister

Money Laundering
Nepal’s Supreme Court has ordered the government to explain its decision to withdraw money laundering and organized crime charges against Rabi Lamichhane, the country’s former Home Minister. On Tuesday, a single bench of Justice Abdul Aziz Musalman issued a “show cause” order, granting the Attorney General’s Office 15 days to provide a written justification for dropping the high-profile charges. The court also directed Lamichhane to submit a response, either in person or through a legal representative. “The Attorney General’s Office has been ordered to send a response to the writ petition filed within 15 days,” Nirajan Pandey, the Supreme Court’s…

China Investigates Over 1 Million Corruption Cases in 2025

Bribery, Corruption
Chinese authorities imposed “disciplinary” measures on 983,000 people in more than one million corruption cases in 2025 alone, marking a record high for China’s top anti-corruption watchdog, the Central Commission for Discipline Inspection and the National Supervisory Commission. In a statement released Saturday, the anti-graft body said 69 officials at the provincial and ministerial levels and above were punished for corruption last year. Authorities also investigated 115 senior officials, while 5,016 bureau-level officials were probed. Throughout the year, investigators examined 33,000 individuals for bribery, and 4,306 people were referred for prosecution. Beijing’s sweeping anti-corruption campaign in 2025 resulted in several…

South Korea Launches AML Taskforce Ahead of 2028 FATF Review

Money Laundering
The Korea Financial Intelligence Unit (Korea Financial Intelligence Unit) recently held the first meeting of a new taskforce tasked with revisiting the Act on Reporting and Using Specified Financial Transaction Information. While the meeting itself was procedural, the mandate behind it is anything but. The taskforce is meant to modernize Korea’s AML framework, sharpen responses to cross-border crime and large-scale financial fraud, and prepare the ground for South Korea’s next mutual evaluation by the Financial Action Task Force in 2028. Officials used the kickoff session to take stock. Taskforce members reviewed which parts of the existing regime no longer reflect…

Norway Charges PetroNor Subsidiary, Two Citizens Over Alleged Congo Oil Bribes

Bribery
Norwegian prosecutors have charged two individuals and a subsidiary of Oslo-listed PetroNor E&P with paying tens of millions of dollars in bribes to people close or related to Congo’s president to secure oil licenses, according to an indictment shared with the Organized Crime and Corruption Reporting Project (OCCRP) on Wednesday. The indictment, issued by Norway’s economic crime authority Økokrim, describes the case as “grand corruption,” alleging that senior political figures were targeted with bribes of exceptionally high value in connection with oil operations in the Republic of Congo from 2016 onward. The two Norwegians charged, Knut Søvold and Gerhard Ludvigsen, were senior…

German Prosecutors Raid Deutsche Bank in Money Laundering Probe

Money Laundering
German prosecutors searched Deutsche Bank offices in Frankfurt and Berlin as part of a probe into suspected money laundering linked to past transactions, adding to a series of high-profile investigations involving the lender. Banner: Boris Roessler/dpa/dpa Picture-Alliance via AFPRelated Articles Saudi Arabia Arrests 127 in Ongoing Anti-Corruption Campaign Design Firm That Donated £200,000 to Reform UK Owed £218,000 in TaxAuthorities threatened to close down Interior Architecture Landscape due to unpaid taxes. The design firm still managed to make a major donation to Nigel Farage’s Reform UK party. The firm said the donations complied with U.K. electoral law. Montenegro Shaken as…

How crypto criminals stole $700 million from people – often using age-old tricks

Cyber Crime, Fraud
There’s something uniquely agonising about having your cryptocurrency stolen. All transactions are recorded on a digital ledger, known as a blockchain, so even if someone takes your money and puts it in their own crypto wallet, it is still visible online. “You can see your money there on the public blockchain, but there’s nothing you can do to get it back,” says Helen, who lost around $315,000 (£250,000) to thieves. She likens it to watching a burglar pile up your prized possessions on the other side of an impassable chasm. For seven years Helen and her husband Richard (not his…

Guernsey court seizes £8.5 million of Cryptoqueen’s assets under German confiscation order

Asset Seizure
Guernsey’s Royal Court has seized more than £8.5 million from a shell company bank account associated with the infamous missing ‘Cryptoqueen’ Dr Ruja Ignatova. The 45-year-old founded the digital currency OneCoin, but is believed to have used it as cover to help defraud victims out of more than $4 billion globally – making her one of the world’s most prolific alleged scammers. Dr Ignatova is on the FBI’s most wanted list, with a reward of up to $5 million offered for information leading to her arrest and conviction. Now, some of her assets have been seized by Guernsey authorities after…

Solicitors Regulatory Authority: 62 Percent of Law Firms Only Partially Compliant or Non-Compliant with Money Laundering Regulations

Regulation
The United Kingdom Money Laundering Regulations, enacted in 2017, established a wide range of specific legal obligations on United Kingdom businesses of all types to guard against those businesses being used as conduits for money laundering and terrorist financing (MLTF). Those obligations include: Customer due diligence (CDD) measures (ie, ‘taking steps to identify your customers and checking they are who they say they are’), including CDD in establishing a new business relationship (eg, obtaining information on the source and origin of funds that the customer will be using in the relationship).Updating risk assessments on customers if their circumstances change.Establishing and…