Reported by Agence France-Press in Rome Italian police have dismantled an underground bank used by drug traffickers through which several hundred million euros are believed to have moved over at least three years. The clandestine bank, whose logistical base was located in Prato, north-west of Florence, has been run since 2021 by a Chinese national, […]

Reported by Jennifer Gould (Excerpt shared below. To read full report, go to: https://nypost.com/2026/06/12/business/heiress-who-sued-barclays-hsbc-for-alleged-money-laundering-with-ghislaine-maxwell-link-seeks-15b-in-damages/) Barclays and HSBC have been accused of enabling a late real estate tycoon to siphon cash from trusts intended for his daughter into a massive money-laundering scheme — including deals that were brokered by an entity linked to Ghislaine Maxwell’s family, […]

Reported by Karen Garcia (Excerpt shared below. To read full report, go to: https://www.latimes.com/california/story/2026-06-11/world-cup-related-scams-what-you-need-to-know-to-protect-yourself) How to avoid World Cup-related scams Typing the correct URL directly into your browser is the best way to get to a legitimate site. (Los Angeles County Sheriff’s Department) The official guidance from the Sheriff’s Department is to go directly to […]

Reported by James Hookway (Summary shared below. To read full report, go to: https://www.wsj.com/world/uk/scotland-peter-murrell-nicola-sturgeon-embezzled-f468f0bb?mod=mhp) The downfall of Peter Murrell, former chief executive of the Scottish National Party (SNP), has evolved from a straightforward embezzlement case into a national spectacle that has captivated Scotland. Murrell pleaded guilty to stealing approximately £400,000 in party donations, but public […]

Reported by Micah Zimmerman (Excerpt shared below. To read full report, go to: https://bitcoinmagazine.com/news/u-s-charges-two-men-389-million-bitcoin) Federal prosecutors in Philadelphia charged two men Wednesday with running an international bitcoin and crypto money laundering operation that processed nearly $400 million in illicit funds over five years, part of a sweeping multinational law enforcement takedown that dismantled the group’s […]

Reported by FinCEN Key Red Flags Identified in FinCEN’s June 2026 Advisory FinCEN’s advisory encourages financial institutions to look for combinations of the following indicators when assessing potential unlawful employment, identity fraud, labor exploitation, money laundering, and related financial crime risks: Identity and Customer Due Diligence Red Flags Employment and Payroll Red Flags Cash Activity […]

Reported by Ashleigh Hollowell Addiction Recovery Care’s CEO and founder, Tim Robinson Jr., has been indicted on federal felony charges for wire fraud and money laundering. If convicted, he could face a maximum sentence of 40 years in prison. The Louisa, Kentucky-based company was expecting a tax refund from the IRS in the form of an employee […]

Reported by Margot Patrick and Patrick Thomas (Summary shared below. To read full report, go to: https://www.wsj.com/finance/cattle-empire-ponzi-scheme-3d245791?mod=mhp) What happened in rural Kentucky is a story that feels uniquely American and yet deeply universal. At its center was a cattleman named Brian McClain, a respected horseman, church volunteer and livestock operator who appeared to have built one […]

Reported by Neeraj Kaushik, Amit Deshpande, Nisha Dekhtawala, and Subhash Sharma (Summary shared below. For full report, go to: https://aws.amazon.com/blogs/architecture/modernizing-kyc-with-aws-serverless-solutions-and-agentic-ai-for-financial-services/) The AWS architecture outlined in this paper is not really about cloud computing. It is about the collision of two powerful forces reshaping finance: the explosion of regulatory complexity and the rise of artificial intelligence […]

Reported by Finwire The Danish Prosecution Service has specified its claim for a fine against Nordea at 6.6 billion Danish kroner in the ongoing money laundering proceedings at the Copenhagen District Court, according to reports from Ritzau citing court documents. The case involves allegations that Nordea failed to take adequate measures to prevent money laundering […]