Reported by Erin Slowey (Excerpt shared below. To read full report, go to: https://news.bloombergtax.com/daily-tax-report/irs-criminal-division-identified-4-5-billion-in-tax-fraud) The IRS’s crime unit discovered about $4.5 billion in tax fraud in fiscal 2025 — a 111.8% increase from the previous year, a new division report said.  Of the $10.59 billion in financial crimes the IRS’s criminal investigation division identified, tax […]

Reported by Iran International (Excerpt shared below. To read full report, go to: https://www.iranintl.com/en/202512161745) Iran’s central bank said on Tuesday it had blocked bank the accounts of over 250 people suspected of money laundering a sum amounting to $1.6 billion, as the country attempts to consolidate its financial system amid harsh sanctions. Central bank spokesperson […]

Reported by FACT Coalition (Excerpt shared below. To read full report, go to: https://thefactcoalition.org/court-upholds-landmark-anti-money-laundering-law/) Today, the U.S. Court of Appeals for the 11th Circuit reversed a lower court decision in NSBU v. U.S. Department of the Treasury, finding in favor of the Corporate Transparency Act (CTA). This landmark anti-money laundering law requires certain U.S. entities to […]

Reported by Evelina Youcefi (Excerpt shared below. To read full report, go to: https://www.bloomberg.com/news/articles/2025-12-15/danske-bank-says-doj-probation-over-estonia-scandal-has-ended) Danske Bank A/S said its corporate probation with the U.S. Department of Justice has ended, marking the final step in resolving one of Europe’s biggest money-laundering scandals. The scandal has “profoundly shaped our organization and transformed our culture,” Danske Chief Executive Officer Carsten Egeriis […]

Reported by Tara Siegel Bernard (Summary shared below. To read full report, go to: https://www.nytimes.com/2025/12/12/business/tech-support-scam-bank-fraud.html) What began as a routine attempt to fix an iPad spiraled into a devastating financial loss for David Welles, an 87-year-old retired lawyer. Searching Google for Microsoft tech support, he instead reached a sophisticated scammer who persuaded him to install […]

Reported by Danny Park (Excerpt shared below. To read full report, go to: https://www.theblock.co/amp/post/381820/22-year-old-guilty-crypto-syndicate. To read indictment, go to: https://www.justice.gov/usao-dc/media/1420391/dl) The U.S. Justice Department announced today that a key figure in a $263 million social engineering scheme has pleaded guilty to charges. Before U.S. District Court Judge Colleen Kollar-Kotelly, California resident Evan Tangeman, 22, admitted guilt to […]

Reported by U.S. Department of the Treasury (Excerpt shared below. To read entire remarks, go to: https://home.treasury.gov/news/press-releases/sb0276) I am also optimistic about AML/CFT reform.  In my meetings with community bankers, they list CTR filings, structuring SARs, and process-focused examinations among their top concerns. Today, FinCEN released FAQs to address pain points on some of these […]

Reported by Reuters (Excerpt shared below. To read full report, go to: https://www.reuters.com/business/us-treasury-proposes-taking-more-central-role-enforcing-anti-money-laundering-2025-12-10/) The U.S. Treasury Department has proposed taking a more central role in the enforcement of anti-money-laundering rules in a bid to overhaul a system for catching illicit transactions by drug traffickers, the Wall Street Journal reported on Wednesday. The proposal could give […]

Reported by SHEKARI PHILEMON (Excerpt shared below. To read full report, go to: https://rollingout.com/2025/12/09/73-pulls-off-shocking-30m-scam/) Look, we’ve all embellished our resumes a bit. Maybe you claimed to be “proficient” in Excel when you really just know how to make a pivot table. But allegedly pretending to be an heiress with access to an $80 million trust […]

Reported by Julia Yansura & Helen Taylor (Excerpt shared below. To read full report, go to: https://thefactcoalition.org/uk-illicit-finance-summit-puts-dirty-gold-in-the-spotlight-real-reforms-must-follow/) Ahead of International Anti-Corruption Day on December 9th, the UK’s Foreign Secretary Yvette Cooper unveiled plans for the upcoming Illicit Finance Summit to be hosted by the UK on 23-24 June 2026. Bringing together leaders from a broad coalition of countries, the […]