Higher-Risk Activity While Reducing Unnecessary Burden Reported by FinCEN (Originally published via: https://www.fincen.gov/system/files/2026-04/Key-Changes-Program-NPRM.pdf) As part of the U.S. Department of the Treasury’s efforts to modernize the Bank Secrecy Act (BSA), FinCEN has issued a proposed rule that would fundamentally reform the requirements for financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs. […]

Reported by FinCEN (Originally published via: https://www.fincen.gov/news/news-releases/fincen-proposes-rule-fundamentally-reform-financial-institution-programs) The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a proposed rule intended to fundamentally reform financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs under the Bank Secrecy Act (BSA). The proposed rule supports Treasury’s efforts to modernize the U.S. AML/CFT […]

Reported by Rory Jones, Brian Spegele, and Austin Ramzy (Excerpt shared below. To read full report, go to: https://www.wsj.com/world/middle-east/how-china-helped-iran-cushion-the-blow-of-sanctions-and-fund-its-war-machine-6fa2847d?gaa_at=eafs&gaa_n=AWEtsqcpbU0J6rBRyy34QbZgAA2_rxMlG3UcP3CnBltE53LuC-cIAiu2UfBK8KYZU70%3D&gaa_ts=69d4e3f9&gaa_sig=w5-iqCL-SE-s_7fMNuYdsbPqx7pGV6OBkOi1C5wG2caZ15HbjJLl4W2RSJno2Lb_Sd0NGC-OCmsIVqj8rTKyZg%3D%3D) In the first Trump administration, the U.S. launched a “maximum pressure” campaign to cut Iranian oil from the global market and eliminate Tehran’s biggest source of revenue. Today, Iran sells billions of dollars worth of oil […]

Reported by Inc (Excerpt from news shared below. To read complaint, go to: https://npr.brightspotcdn.com/49/28/16d914944704bdbfade2f5dcba51/five-star-v-mott.pdf) A former restaurant owner is about to be sentenced on federal charges of fraud and money laundering a year ago stemming from a technique that was popular in the era of analog banking. Katherine Mott-Formicola was the owner of several upscale […]

Reported by Nicholas Comfort and Karin Matussek (Summary shared below. To read full report, go to: https://www.bloomberg.com/news/articles/2026-04-02/operation-chargeback-germany-takes-on-alleged-scammers-over-300-million-fraud?embedded-checkout=true) A major fraud investigation in Germany has uncovered a sprawling payments scandal worth more than €300 million, deepening the crisis facing the country’s fintech sector years after the collapse of Wirecard AG. Prosecutors say criminal networks used stolen credit-card data […]

Reported by Hillary Remy (Excerpt shared below. To read full report, go to: https://www.thestreet.com/technology/ai-may-be-cracking-this-finance-problem-money-laundering-fraud-crime) Industry shifts toward AI-driven anti-money laundering compliance The move toward AI driven compliance is not limited to one company or approach. Across the financial system, institutions are exploring ways to use machine learning to improve detection and reduce inefficiencies. Regulatory fines […]

Reported by Jonathan Delozier (Summary featured below. To read full report, go to: https://www.housingwire.com/articles/fincens-anti-money-laundering-rule-struck-down-now-what/) A federal court ruling in Texas has vacated a nationwide anti-money-laundering rule issued by the Financial Crimes Enforcement Network (FinCEN), creating uncertainty for professionals involved in real estate and title transactions. The rule, which took effect on March 1, required reporting […]

Reported by Gina Heeb (Excerpt shared below. To read full report, go to: https://www.wsj.com/finance/banking/bank-of-america-agrees-to-pay-72-5-million-to-settle-epstein-lawsuit-e8ed82e2?mod=mhp) Bank of America agreed to pay $72.5 million to settle a lawsuit that alleged the bank kept ties to people close to Jeffrey Epstein and failed to flag suspicious payments between the convicted sex offender and his associates and victims. The proposed class-action lawsuit […]

The Telegram-based Xinbi Guarantee black market sells services that help prop up scam operations. British officials just hit the highly lucrative marketplace with sweeping sanctions. Reported by Wired (Excerpt shared below. To read full report, go to: https://www.wired.com/story/20-billion-xinbi-guarantee-uk-sanctions/) Chinese-language online black markets have become one of the biggest drivers of cybercrime in history, processing tens of billions of […]

Reported by Noele Illien and Myriam Balezou (Summary featured below. To read full report, go to: https://www.bloomberg.com/news/articles/2026-03-25/switzerland-s-mbaer-merchant-bank-brought-down-by-iran-money-laundering-claims?embedded-checkout=true) The collapse of MBaer Merchant Bank AG has exposed how a small Swiss institution allegedly became entangled in a global money-laundering network linking Venezuela, Iran, and Russia. Founded in 2018 by former private-banking executives including Mike Baer and Paul‑Michel von […]