Reported by Neil Vigdor (Excerpt shared below. To read full report, go to: https://www.nytimes.com/2025/10/25/world/europe/louvre-heist-jewelry-thieves.html) So what do former jewelry thieves make of the brazen heist that the entire world can’t stop talking about? Some gave their, ahem, professional insight into last Sunday’s break-in at the Louvre in Paris, where intruders breached a second-floor window of the world’s most-visited […]

Reported by The Herd A sweeping federal investigation has exposed deep ties between organized crime and professional sports betting. The case underscores how criminal networks adapt — merging old-school racketeering with modern financial crime tactics. For compliance and risk professionals, it’s a powerful reminder of why vigilance in sports finance and entertainment matters more than […]

Reported by David Waldstein (Excerpt shared below. To read full report, go to: https://www.nytimes.com/2025/10/25/nyregion/new-york-basketball-betting-scandals.html) New York is known as the heart of the basketball world, but it could also be called the capital of basketball betting scandals. Less than a decade after the first N.C.A.A. men’s basketball tournament, college players in the city were already […]

Reported by Alex Oliveira (Excerpt shared below. To read full report, go to: https://nypost.com/2025/10/23/us-news/how-mafiosos-and-nba-stars-used-rigged-card-shufflers-x-ray-tables-and-secret-contact-lenses-in-poker-scam/) NYC mafiosos and NBA stars used a combination of high-tech contraptions and old-school gambling tricks to swindle hapless high-rollers out of $7 million in a sprawling backroom poker scheme, prosecutors alleged in an explosive indictment Thursday. The years-long con depended on “advanced […]

Reported by JACOB SIMS, ERIN WEST and JASON TOWER (Excerpt shared below. To read full report and announcement, go to: https://thehill.com/opinion/congress-blog/technology/5565543-congress-targets-foreign-scam-syndicates/amp/ and https://www.foreign.senate.gov/press/dem/release/ranking-member-shaheen-senator-cornyn-introduce-bill-to-counter-foreign-cyber-scams) Last year, Americans lost over $10 billion dollars to sophisticated online scamming operations run out of Southeast Asia. Last week, the Department of Justice seized $15 billion in Bitcoin from the Cambodia-based “forced labor scam compound,” […]

Reported by The Canadian Press (Excerpt shared below. To read full report, go to: https://www.cbc.ca/news/business/cryptomus-fined-177-million-fintrac-9.6948338) A cryptocurrency exchange has been slapped with a fine of almost $177 million — the largest-ever penalty by Canada’s financial intelligence agency — for infractions including failing to flag more than 1,000 transactions with suspected links to criminal activity. The […]

Reported by Martin Arnold, Ellesheva Kissin and Suzi Ring (Excerpt shared below. To read full report, go to: https://www.ft.com/content/4deb8a5d-003c-446d-b0ad-38b18aa71c2b) UK law firms and accountants are pushing back against plans for the Financial Conduct Authority to supervise them for the first time as part of a shake-up in the system for fighting money laundering in professional services. The Treasury […]

Reported by United States Senate (Excerpt shared below. To real full report and copy of legislation, go to: https://www.banking.senate.gov/newsroom/majority/chairman-scott-senator-kennedy-introduce-bill-to-modernize-the-bank-secrecy-act and https://www.banking.senate.gov/imo/media/doc/streamline_act_bill_text_final_draft_jn9mkhf4cccp.pdf) Senate Banking Committee Chairman Tim Scott (R-S.C.) joined Senators John Kennedy (R-La.), Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), Katie Britt (R-Ala), Pete Ricketts (R-Neb.), and Bernie Moreno (R-Ohio) […]

Reported by Bank of Singapore (Excerpt shared below. To read full report, go to: https://www.bankofsingapore.com/media-releases/2025/bank-of-singapore-deploys-agentic-ai-tool-to-automate-writing-of-source-of-wealth-reports.html) Bank of Singapore has rolled out an agentic AI-powered tool that automates a key part of the Know-Your Customer due diligence process to ensure the legitimacy of clients’ wealth and transactions. With the use of the tool, Source of Wealth […]

Reported by Abbinaya Kuzhanthaivel (Excerpt shared below. To read full report, go to: https://www.itnews.asia/news/bank-of-singapore-deploys-ai-to-automate-kyc-process-621076) Bank of Singapore has launched an agentic artificial intelligence (AI) tool to streamline the process of verifying the legitimacy of clients’ wealth, a key step in Know-Your-Customer (KYC) due diligence.  The bank said the AI tool – Source of Wealth Assistant […]