In a significant operation against organized crime, Gardaí targeted a Dublin-based drug gang, resulting in the seizure of 29 luxury vehicles valued between €500,000 and €600,000. The operation, conducted on March 20, 2025, also led to the freezing of approximately €200,000 in company accounts suspected to be proceeds of crime. ?SundayWorld.com The vehicles, including high-end brands such as Mercedes, BMW, Audi, and Volkswagen, were confiscated from a business in South County Dublin. This action was part of a broader investigation into the gang’s involvement in drug trafficking, money laundering, and fraud offenses. ?SundayWorld.com+1The Irish Sun+1 The targeted gang is reportedly… Read more: Luxury Vehicles Seized in Irish Money Laundering Operation

TD Bank has appointed Guidepost Solutions as an independent compliance monitor to oversee a comprehensive overhaul of its anti-money laundering (AML) program. This move comes as part of a $3 billion settlement with U.S. regulators and prosecutors after the bank was found to have failed in preventing and detecting illicit financial activities. The settlement, one of the largest in banking history, stems from inadequate AML controls that allowed the processing of hundreds of millions of dollars in suspicious transactions between 2019 and 2023. Regulatory Requirements and Oversight As part of the settlement terms, the U.S. Department of Justice (DOJ) has… Read more: TD Bank Appoints Compliance Monitor Following $3 Billion AML Settlement

The FCA imposed a £1.7 million fine on London-based trading firm Mako for its involvement in cum-ex trading strategies. These strategies exploited legal loopholes to enable multiple tax rebate claims on dividend payments, leading to substantial tax revenue losses across various jurisdictions. Between 2008 and 2010, Mako facilitated approximately £92 billion in Danish and Belgian equities trades for clients associated with the Solo Group hedge fund. Notably, Sanjay Shah, founder of Solo Group, was sentenced to 12 years in prison in Denmark for orchestrating a tax fraud scheme amounting to around £1 billion. This action marks the FCA’s eighth enforcement… Read more: FCA Fines Mako Trading Firm Over Cum-Ex Deals

The United Arab Emirates (UAE) is intensifying its efforts to combat money laundering and financial crime through a series of high-level meetings with European Union (EU) member states. These discussions are part of a broader strategy to enhance international cooperation and strengthen regulatory frameworks. Hamid Al Zaabi, Secretary-General of the National Committee for Anti-Money Laundering and Countering the Financing of Terrorism and Financing of Illegal Organisations (NAMLCFTC), is leading these efforts. The UAE has already engaged with key international partners, including the United States and France, to develop robust strategies for tackling financial crimes, particularly those linked to fraud and… Read more: UAE Strengthens Financial Crime Efforts with High-Level EU Engagement

In the final week of January 2025, international authorities announced a major operation targeting crypto fraud networks, resulting in the seizure of over $2 billion in assets and the arrest of key players in multiple countries. The coordinated effort, involving agencies from the US, EU, and Asia, uncovered elaborate schemes involving fake investment platforms, phishing campaigns, and ransomware attacks. The operation, dubbed “Crypto Shield 2025,” also exposed significant vulnerabilities in decentralized finance (DeFi) systems that had been exploited by bad actors throughout the previous year. Authorities emphasized the importance of enhanced transaction monitoring, improved cross-border cooperation, and stricter regulatory frameworks… Read more: Global Crackdown on Crypto Fraud Nets $2 Billion in Seized Assets

In the first week of January 2025, a groundbreaking crypto regulatory framework came into effect in the European Union, marking a significant step toward standardizing oversight in the crypto industry. The framework, known as the Crypto Asset Markets Regulation (CAMR), introduces stricter compliance requirements for crypto exchanges, wallet providers, and DeFi platforms. Key provisions include mandatory licensing, enhanced customer due diligence, and real-time transaction monitoring to curb fraud and money laundering. The regulation aims to close gaps exploited by bad actors in 2024, such as fraudulent ICOs and phishing schemes. Industry leaders have praised the framework for fostering greater trust… Read more: First Major Crypto Regulatory Framework of 2025 Takes Effect

In the fourth quarter, international authorities dismantled a major sanctions evasion network that involved laundering billions through shell companies, trade-based money laundering (TBML), and cryptocurrencies. The network utilized complex supply chain financing schemes to obscure the origins of funds linked to sanctioned entities. The operation, coordinated by the US and EU, led to the arrest of key facilitators and the seizure of assets worth over $1 billion. Investigators praised advancements in sanctions screening tools and data-sharing agreements between governments, which were critical in identifying and dismantling the network. The case underscored the need for financial institutions to remain vigilant and… Read more: Sanctions Evasion Networks Exposed in High-Profile Crackdown

In Q3, emerging markets experienced a wave of sophisticated Authorized Push Payment (APP) fraud schemes, with victims losing over $500 million. Organized crime groups exploited vulnerabilities in digital payment systems and preyed on consumers with limited financial literacy. Fraudsters posed as legitimate businesses or financial institutions, tricking individuals into authorizing payments to fraudulent accounts. Governments in Asia, Africa, and South America responded by implementing stronger fraud reimbursement models and rolling out extensive consumer education campaigns. Financial institutions were urged to adopt advanced fraud detection tools and enhance customer authentication processes to combat these schemes effectively.

In Q2 2024, a leading European bank was fined €1.2 billion following revelations of significant anti-money laundering (AML) deficiencies. A multi-year investigation uncovered that the bank had failed to monitor high-risk accounts, especially those involving politically exposed persons (PEPs), and had inadequate transaction monitoring systems. Authorities noted that the bank ignored multiple red flags, including large transfers from sanctioned regions. The fine, one of the largest in history, served as a stark warning to financial institutions about the consequences of weak compliance programs. The case underscored the importance of a risk-based approach to AML and the need for regular audits… Read more: AML Failures Lead to Record Fines for Major European Bank

The first quarter of 2024 saw an alarming increase in crypto-related fraud cases, with total global losses exceeding $3 billion. Cybercriminals leveraged new and sophisticated techniques, including exploiting decentralized finance (DeFi) platforms and creating fraudulent initial coin offerings (ICOs). Phishing campaigns targeting crypto wallet users and social engineering attacks also surged. Regulatory bodies in the UK, EU, and US expressed concern over the gaps in international regulatory frameworks, which allowed criminals to exploit jurisdictional inconsistencies. Calls for enhanced global collaboration and stricter licensing requirements for crypto platforms intensified as financial institutions scrambled to protect customers from this growing threat.