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Spanish authorities have dismantled an international underground banking network known as the “Dubai Bank”, arresting 21 suspects and identifying, seizing or freezing assets worth approximately €20 million in a multinational investigation into drug trafficking and money laundering. The investigation was led by Spain’s National Police with support from Europol and law enforcement authorities in several countries. The network is alleged to have provided financial services to cr

The United Kingdom has introduced legislation to expand its sanctions regime against Iran, with new restrictions covering financial services, trade, energy, transport and shipping. The measures are intended to address Iran’s nuclear programme and other activities identified by the UK government as hostile or destabilising. The new legislation, the Iran (Sanctions) (Amendment) Regulations 2026, amends both the Iran (Sanctions) Regulations 2023 and the Iran (Sanctions) (Nuclear

Democratic Bulgaria has introduced legislation in Bulgaria’s 52nd National Assembly seeking to impose an almost comprehensive ban on gambling advertising and close what its MPs describe as loopholes that have allowed operators to continue promoting their businesses despite restrictions introduced in 2024. The bill, registered under number 52-654-01-130 on 9 September 2026, proposes amendments to the Gambling Act that would significantly broaden the scope of prohibited gamblin

Illumina Cambridge Limited has paid a compound settlement of £7,438,840.13 to HM Revenue and Customs following breaches of UK sanctions restrictions concerning the supply of goods to Russia. The breaches occurred between July 2022 and January 2023 and related to Regulation 25(1) of the Russia (Sanctions) (EU Exit) Regulations 2019. According to the published details, the company became involved in the supply of sanctioned goods between two companies located outside the United

Huawei Technologies has gone on trial in federal court in Brooklyn, New York, in a long-running criminal case involving allegations of sanctions violations, bank fraud, wire fraud, money laundering, racketeering and theft of trade secrets. Jury selection began on September 8, 2026, almost eight years after US authorities initially brought charges against the Chinese telecommunications company. Prosecutors allege that Huawei used a network of corporate relationships and intern

Italian and German authorities have uncovered an alleged €4.5 million money laundering scheme involving funds intended for a sports association, with investigators tracing diverted money through a second allegedly fictitious association, family members and investments in Germany. The cross-border investigation involves three individuals, including the former legal representative of the Italian sports association. Coordinated action on 3 September resulted in the preventive se

The growing conflict over unlicensed gambling sponsorship in English football has intensified, with Entain calling on 10 Premier League clubs to reconsider commercial relationships with betting operators that do not hold a licence to offer gambling services in Great Britain. The intervention comes as the UK Government considers whether sponsorship agreements between Premier League clubs and unlicensed gambling businesses should be prohibited. The consultation is examining whe

Cyprus-regulated businesses are being encouraged to participate in a European consultation that could significantly change how money laundering and terrorist financing risks are assessed across the European Union. The Cyprus Securities and Exchange Commission has urged regulated entities to engage with the Anti-Money Laundering Authority on draft Regulatory Technical Standards designed to establish a common methodology for assessing the money laundering and terrorist financin

Australia’s financial crime regulator has stepped up its scrutiny of remittance businesses and virtual asset service providers, removing 45 businesses from its registers over the past year after identifying a range of regulatory, operational and money laundering concerns. The action represents a significant warning to businesses operating in high-risk payment sectors as Australia enters a new phase of its anti-money laundering and counter-terrorism financing framework. The re

A Singaporean man has pleaded guilty in the United States to his role in one of the largest single-victim cryptocurrency thefts in the country, admitting to participating in a scheme that resulted in the theft of more than $245 million worth of Bitcoin. Malone Lam, 22, pleaded guilty to a federal racketeering conspiracy charge in Washington, D.C., after prosecutors accused him of helping organise a network that used sophisticated social-engineering techniques to gain access t

The scale of cryptocurrency-enabled investment fraud operating from overseas scam centres has come into sharper focus after the U.S. Financial Crimes Enforcement Network identified approximately $12.7 billion in suspicious activity associated with digital asset investment scams. The analysis, based on 33,904 suspicious activity reports filed between September 2023 and January 2026, illustrates how fraud networks operating outside the United States have developed increasingly

Cambodia is preparing to suspend online betting operations conducted or broadcast from licensed casino premises nationwide from October, as the government intensifies its campaign against online scams, illicit financial flows and criminal activity associated with gaming properties. The decision was directed by Prime Minister Hun Manet and announced by Deputy Prime Minister and Interior Minister Sar Sokha. Authorities have indicated that the suspension will remain in place unt

The Netherlands is stepping up efforts to combat illegal online gambling advertising, with the government committing to closer cooperation with major technology platforms including Google and Meta as lawmakers demand faster and tougher action against unlicensed operators targeting Dutch consumers. The issue was central to a recent parliamentary debate on the Dutch gambling market, where members of the House of Representatives broadly agreed that the illegal gambling sector re

A Georgian national has been indicted in the United States on allegations that he helped launder proceeds generated through a $1.3 billion health care fraud operation targeting Medicare and private insurers. Erekle Gugava, 33, faces one federal count of conspiracy to commit money laundering in connection with an investigation into a transnational criminal organisation that prosecutors say operated from Russia and other locations. The wider operation allegedly generated billio

Julius Baer’s Monaco wealth management arm has been fined €1.5 million after regulators identified serious weaknesses in its anti-money laundering framework, including deficiencies arising from the delegation of key compliance functions and substantial delays in reporting suspicious activity. The penalty against Julius Baer Wealth Management (Monaco) adds to growing regulatory pressure on Monaco’s financial sector as authorities seek to strengthen the Principality’s defences

The United States has imposed sanctions on a Turkish investment bank and two of its subsidiaries, accusing the institutions of helping Iran maintain access to international financial channels and facilitating transactions connected to the Islamic Revolutionary Guard Corps’ Quds Force (IRGC-QF). The action, announced on September 4, represents a significant escalation in Washington’s campaign to restrict Iran’s access to the global financial system. The measures target Istanbu

Canada’s financial intelligence regulator has imposed administrative monetary penalties totaling C$631,538.50 on two provincial gaming corporations after compliance examinations identified failures in their anti-money-laundering controls. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) took enforcement action against Nova Scotia Gaming Corporation and New Brunswick Lotteries and Gaming Corporation over deficiencies involving suspicious transaction r

A New Hampshire man has been federally indicted over allegations that he operated an unregistered money-transmitting business that moved more than $25 million between the United States and Yemen over a period of several years. Ramzi Al-Shawafi, 47, of Chichester, New Hampshire, is accused of operating a broker-based remittance network that relied on numerous bank accounts maintained at multiple financial institutions. According to federal prosecutors, the accounts were held i

Federal regulators have clarified that SAR confidentiality does not prevent banks and credit unions from discussing suspicious transactions, potential fraud and certain account restrictions with customers—as long as the existence of a Suspicious Activity Report is not disclosed. U.S. financial regulators have provided banks and credit unions with important clarification on how they can communicate with customers during fraud investigations while continuing to comply with the

The NCAA is facing another legal challenge over its sports-betting rules after former Texas Tech wide receiver Roy Alexander filed a lawsuit seeking to overturn a six-game suspension imposed for gambling violations. The case adds to growing legal pressure surrounding the NCAA's authority to discipline athletes for betting and comes after a series of court disputes that have questioned the organisation's ability to enforce its rules. Alexander's challenge is particularly signi