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Hui Ka Yan, the founder of Evergrande, has been sentenced to life imprisonment following the collapse of the Chinese property giant that became one of the most prominent symbols of the country's prolonged real estate crisis. The court also ordered the confiscation of Hui's personal property, marking a dramatic conclusion to the criminal case against the businessman who once stood among Asia's wealthiest individuals. Hui, also known as Xu Jiayin, pleaded guilty earlier this ye

Hong Kong Customs has uncovered a suspected money laundering operation involving approximately HK$35 million in suspected criminal proceeds following a financial investigation connected to an earlier narcotics case. Two local men, both aged 33, have been arrested in connection with the alleged laundering activity. The investigation began after Customs officers uncovered a dangerous drugs case in August 2025 involving drugs with an estimated value of approximately HK$8.3 milli

Albania is moving closer to reopening its sports betting market after years of prohibition, with the government preparing a tightly controlled online licensing system that could allow up to 10 operators to enter the market. The shift represents a significant change in policy after a seven-year ban failed to eliminate betting activity and instead pushed a substantial portion of the market into unregulated online channels. Sports betting was effectively prohibited in Albania in

A federal investigation that began with drug-related violence in Baltimore has expanded into a major alleged drug trafficking and money laundering conspiracy involving Chinese nationals and a network of cannabis operations connected to Maine. The case has resulted in a superseding indictment naming 17 defendants and has uncovered alleged links between illicit marijuana cultivation in Maine, drug distribution in Maryland and a money laundering operation based in New York. One

The United Arab Emirates is strengthening coordination between its gaming and financial regulators as the country continues to build its emerging commercial gaming industry. The General Commercial Gaming Regulatory Authority (GCGRA), the UAE's federal gaming regulator, has entered into a formal memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), establishing a framework for regulatory cooperation, information

Ireland is preparing to introduce a significantly tougher anti-money laundering framework for the gambling industry as part of the country's first National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy. The reforms are designed to reduce the risk of gambling businesses being exploited to conceal criminal proceeds, strengthen oversight of higher-risk gambling activities and improve the ability of authorities to trace m

Saudi Arabia has introduced additional scrutiny on bank transfers destined for the United Arab Emirates, subjecting some transactions to enhanced checks normally associated with jurisdictions considered higher risk for money laundering and other financial crimes. The measures have reportedly resulted in delays and rejected payments for some businesses and are creating new compliance challenges for companies that regularly move funds between the two Gulf economies. The additio

German prosecutors have brought charges against nine people accused of participating in an international fraud network that allegedly obtained and misused the payment card details of more than three million people across 193 countries. The investigation, known as “Operation Chargeback”, uncovered an extensive scheme involving fraudulent subscription websites, unauthorised credit card charges, money laundering and the alleged infiltration of Germany’s payment infrastructure. T

JPMorgan Chase has ended its banking relationship with prediction-market platform Polymarket but remains willing to participate in a potential initial public offering by the company. The New York-based bank reportedly cut ties with Polymarket over regulatory concerns, telling the company in October that it would need to find another banking partner. Polymarket subsequently transferred its accounts to an unidentified lender. Despite the change, the relationship between the two

The UK Gambling Commission (UKGC) has provided further insight into the financial risk assessments (FRAs) pilot conducted between 2024 and 2025, warning that weaknesses in operators’ identity verification procedures undermined aspects of the scheme and created additional difficulties for consumers. In a blog post published on Wednesday, Gambling Commission senior executives Helen Rhodes and Sarah Webster outlined problems identified during the pilot, particularly concerning t

The Bank of Lithuania has temporarily prohibited UAB Lux International Payment System from providing financial services to both new and existing customers after identifying what it described as serious deficiencies and possible breaches of money laundering and terrorist financing prevention requirements. The intervention was imposed while the central bank conducts an ongoing inspection into the electronic money institution's activities. The restriction was announced on 4 Augu

A Cuban national has pleaded guilty in the United States to participating in an international migrant-smuggling operation that allegedly helped thousands of Cuban nationals enter the country through illegal and fraudulent means while generating substantial criminal proceeds. The case also involved asylum fraud and an extensive money laundering component, highlighting the close financial links between organised migrant smuggling and the movement and concealment of illicit fund

KPMG Australia has confirmed that it reached a settlement with a former employee who had raised allegations of wrongdoing within the firm's tax division, adding another layer to the growing scrutiny surrounding the professional services firm's governance, whistleblower processes and treatment of misconduct allegations. The settlement relates to historical allegations concerning KPMG Australia's tax practice and comes as the firm faces a separate parliamentary inquiry into all

South Korean police have referred eight people to prosecutors in connection with a payment fraud case involving Gmarket customer accounts, alleging that the individuals helped launder criminal proceeds by providing bank accounts used to receive and move funds generated through unauthorised transactions. Investigators have yet to identify the hacker believed to have organised the original scheme and are continuing to trace the movement of the proceeds. The case relates to unau

The United States Office of the Comptroller of the Currency has rejected Dutch digital bank bunq’s application for a national banking charter, citing significant concerns about the proposed institution’s capitalisation, management experience, business strategy and ability to operate safely and profitably in the U.S. market. The decision represents a setback for bunq’s plans to establish a full banking presence in the United States and highlights the demanding regulatory expec

Austrian authorities have uncovered an international sanctions-evasion network that allegedly diverted more than €3.3 million worth of specialised European industrial equipment to Russian defence manufacturers, exposing the increasingly sophisticated methods being used to circumvent restrictions on trade with Russia. The investigation centred on a Vienna-based company that allegedly arranged the procurement and onward delivery of controlled machinery and specialist metalworki

The UK Government is preparing to strengthen its powers to tackle businesses and premises suspected of being connected to organised crime, money laundering and other forms of illicit activity on the country's high streets. The proposed measures would significantly extend the period for which certain premises can remain closed while investigations are carried out and would give local authorities greater control over the expansion of gambling venues. At the centre of the propos

Ireland's financial sector is facing a growing money laundering threat, with new industry research indicating that illicit financial activity has increased significantly over the past two years and that criminal networks are increasingly turning to digital channels to move and conceal their proceeds. The findings highlight the growing challenge for financial institutions as criminals move away from traditional cash-based methods and increasingly exploit digital payments, fint

The United States has significantly narrowed its beneficial ownership reporting requirements, removing the obligation for companies created under U.S. law to disclose their beneficial ownership information to the Financial Crimes Enforcement Network. The change represents a major reduction in the scope of the Corporate Transparency Act's reporting regime and shifts the focus of the remaining requirements towards certain foreign companies operating in the United States. Under

Romania’s National Office for Gambling (ONJN) has added approximately 800 illegal gambling websites to the country’s national blacklist, marking the largest single blacklist expansion under the regulator’s current leadership. The decision was announced on 31 July 2026 by ONJN, whose Supervisory Committee approved the addition of the new domains. The latest action more than doubles the previous record established during the same mandate, when approximately 370 illegal gambling