Reported by Eduardo Lopez (Summary shared below. To read full report, go to: https://www.sardine.ai/blog/kyc-conversion-rates) For years, financial institutions have treated Know Your Customer (KYC) checks as a regulatory requirement. But a new analysis from fraud prevention company Sardine argues that KYC has also become a critical growth issue, with inefficient onboarding processes causing many prospective customers […]
Reported by Milena Thomas (Excerpt shared below. To read full report, go to: https://www.briefs.co/news/swedbank-s-50m-payment-ends-long-running-u-s-money-launderin/) Swedbank just wrote the last check in a long U.S. legal saga. The Stockholm-based lender paid $50 million to New York’s financial watchdog, the Department of Financial Services. That $50 million payment brought to a close a U.S. probe that had lasted seven […]
Reported by Dan Mangan (Excerpt shared below. To read full report, go to: https://www.cnbc.com/amp/2026/07/15/new-jersey-deli-fraud-james-patten-sentencing-request.html) The final defendant awaiting sentencing in the brazen $100 million New Jersey deli stock manipulation case is asking a judge to give him no prison time — despite having a prior felony conviction that got him locked up. A lawyer for the […]
Reported by Concentrix (Excerpt shared below. To read full report, go to: https://www.concentrix.com/en-gb/about/news/social-media-financial-crime-fraud-prevention/) The social media sector has evolved from simple communication platforms into complex digital ecosystems where billions of users interact, transact, and consume information. This expansion has created fertile ground for fraud, misinformation, financial scams, and regulatory breaches. The Financial Conduct Authority (FCA) latest enforcement action on […]
Reported by Mayra Rodriguez Valladares (Summary version featured below. To read full report, go to: https://www.forbes.com/sites/mayrarodriguezvalladares/2026/07/09/the-feds-new-money-laundering-rule-has-a-loophole-built-in/) The Federal Reserve has proposed a major overhaul of how it supervises banks’ anti-money laundering and counter-terrorist financing programs, arguing that the changes will modernize oversight and better align regulation with the Anti-Money Laundering Act of 2020. The proposal […]
Reported by Interpol (Originally published via https://www.interpol.int/News-and-Events/News/2026/Over-5-800-arrests-USD-293-million-intercepted-in-global-fraud-bust) LYON, France – A global anti-fraud operation involving 97 countries and territories has led to the arrest of 5,811 individuals and the interception of USD 293 million in illicit assets. Operation First Light 2026 (15 Jan 2026 – 30 April 2026), coordinated by INTERPOL, focused on combatting social […]
Reported by Moataz Elgammal (Excerpt shared below. To read full report, go to: https://www.goal.com/en/lists/argentine-fa-under-fbi-investigation-amid-suspected-bank-fraud-money-laundering-united-states/bltf82f97b3aff9a85f) According to reports from La Nacion and Terra, federal prosecutors and FBI agents have begun taking testimonies regarding the financial operations of the AFA in the United States. The investigation centres on how the organisation, led by president Claudio Tapia, structured its […]
Reported by Federal Reserve (See NPRM: https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20260707a1.pdf) The Federal Reserve Board on Tuesday requested comment on a proposal to amend its requirements for banks to maintain anti-money laundering programs. The amendments are intended to align with changes to anti-money laundering program requirements separately proposed by four other agencies. Among other changes, the proposal would require […]
Reported by Angus Berwick and Patricia Kowsmann (Excerpt shared below. To read full report, go to: https://www.wsj.com/finance/binance-cuts-off-european-users-after-regulator-raises-financial-crime-concerns-e57dbf06?mod=Searchresults&pos=3&page=1) Binance, the world’s largest crypto exchange, failed to obtain a license to operate in the European Union after a key regulator expressed concerns about its history of financial-crime violations. Binance said last week it withdrew a license application filed in Greece that […]
Reported by Rabihah Butler (Excerpt shared below. To read full report, go to: https://www.thomsonreuters.com/en-us/posts/corporates/world-cup-aml-professionals/) The 2026 FIFA World Cup is, by every measure, the largest sporting event ever staged on North American soil, drawing 3.6 million spectators through its early weeks and generating billions of dollars in economic activity — that level of transaction volume […]
