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Hedge funds have generated enormous profits this year by betting against publicly traded gambling companies, as a wave of declining share prices across the online betting sector delivered billions in gains to short sellers. Hedge funds have earned at least $2.3bn in 2025 through short positions targeting major online gambling operators. The profits came as several of the industry’s largest listed companies suffered steep market declines amid increasing regulatory pressure,

New Delhi: The Supreme Court on Wednesday sought responses from the Centre and the Enforcement Directorate (ED) on a petition demanding a time-bound investigation into the alleged money laundering involving the Jaypee group and requesting that any proceeds of crime recovered be used to complete stalled housing projects. A bench led by Chief Justice of India (CJI) Surya Kant issued notice on a petition filed by Vandana Sabharwal, a homebuyer in one of the Jaypee projects. The

New Delhi: Alleged fraudulent payments involving Veena, daughter of former Kerala chief minister Pinarayi Vijayan, have come under the scanner as the Enforcement Directorate (ED) stepped up its ₹182-crore money laundering investigation linked to Cochin Minerals and Rutile Limited (CMRL). Investigators associated with the probe indicated that “one of the fake expenses booked by CMRL is towards the payment to Veena.” Officials connected to the case further stated that Veena’s c

The Judiciary Police (PJ) have dismantled a group of five Filipinas allegedly involved in fraud and money laundering activities, PJ spokesman Cheong Siu Keong announced during a special press conference yesterday. Cheong identified the suspects as women aged between 38 and 49 who worked as cleaners, domestic helpers, and part-time employees. Their surnames were given as Inocencio, Gutierrez, Calimoso, Gabato, and Bacalso. He added that the case involved two victims, an elderl

Switzerland’s Federal Criminal Court has terminated proceedings against former Credit Suisse executive Lara Warner in connection with allegations that she failed to report suspected money laundering tied to the Mozambique tuna bond scandal. The court ruled on Tuesday that the case against Warner, who previously served as chief compliance officer at the collapsed Swiss bank before its takeover by UBS in 2023, had surpassed the applicable statute of limitations. As a consequenc

Spain has temporarily halted the operations of prediction market platforms Polymarket and Kalshi within its territory after regulators concluded that both services were offering gambling-related products without the legally required authorisations. The country’s Ministry of Social Rights, Consumer Affairs & Agenda 2030 confirmed that the Directorate General for the Regulation of Gambling has initiated formal sanction proceedings against the two companies. The measure was also

Federal authorities have secured a major legal victory against a transnational criminal network after a Georgian citizen living in Miami was sentenced to 37 months in federal prison for laundering more than $1.1 million connected to a massive healthcare fraud operation. The case centered on the use of a fraudulent medical equipment company that functioned as a front for moving illicit proceeds generated through false Medicare and insurance claims. Investigators said the s

The Board of Directors of the Federal Deposit Insurance Corporation has approved a new notice of proposed rulemaking aimed at imposing comprehensive financial crime compliance standards on permitted payment stablecoin issuers operating under its supervision. The proposal marks a significant step toward integrating digital asset companies into the same anti-money laundering and counter-terrorism financing framework that governs traditional banking institutions. Federal regul

The exploitation of public healthcare systems continues to expose dangerous vulnerabilities within the global financial infrastructure, reinforcing the urgent need for stronger anti-money laundering controls capable of identifying and disrupting the movement of stolen public funds. A recent federal court ruling has drawn attention to the growing threat posed by organized criminal groups that manipulate legitimate corporate registration systems to conceal illicit proceeds an

Financial authorities across the Baltic and broader northern European region have identified deep structural weaknesses within cross-border payment monitoring systems following an extensive multi-year review of electronic transaction activity. The coordinated assessment, conducted jointly by regional supervisory agencies, revealed that the rapid expansion of fintech-driven payment ecosystems has outpaced the capabilities of traditional compliance and surveillance mechanisms

Former Venezuelan Industry Minister Alex Saab appeared before a federal court in Miami on Monday, where US authorities formally reinstated money laundering charges against the Colombian-born businessman and former Venezuelan government envoy. The allegations stem from accusations that Saab participated in the misappropriation of funds tied to Venezuelan government contracts, including the CLAP subsidized food distribution program established to assist the country’s most vulne

Federal authorities have carried out coordinated enforcement actions disrupting two major financial and narcotics trafficking networks linked to the Sinaloa Cartel, with regulatory measures including strict blacklisting designations and potential enforcement penalties exceeding 1,000,000 dollars. The Office of Foreign Assets Control led the sanctions effort, moving to freeze assets and disrupt cryptocurrency-based systems used to transfer illicit proceeds across international

Indian law enforcement agencies have dismantled a sprawling international financial network accused of processing more than 226 crore rupees through cryptocurrency channels tied to cyber fraud, narcotics trafficking and overseas paramilitary financing operations. The large-scale crackdown was carried out by the Gujarat Police Cyber Centre of Excellence, which coordinated a sweeping enforcement operation resulting in the arrest of nine key operatives across multiple jurisdic

Cyprus registered an annual inflation rate of 3 per cent in April 2026, according to newly released figures from Eurostat, reflecting a significant acceleration in consumer price growth amid mounting inflationary pressures across both the euro area and the wider European Union. The latest reading represents a sharp rise from the 1.5 per cent inflation rate recorded in March 2026 and stands notably higher than the 1.4 per cent registered in April 2025, confirming a clear upw

A California resident was sentenced to 15 years in federal prison and ordered to pay a $50,000 fine after being convicted for orchestrating a large-scale money laundering operation tied to a major narcotics trafficking enterprise. The case was prosecuted in the Southern District of Alabama, where federal authorities secured convictions for conspiracy to commit money laundering and providing false testimony under oath. Prosecutors stated that the defendant employed sophisticat

Mumbai: Self-styled godman Ashok Kharat, who is already lodged in jail in connection with allegations of rape and fraud, was formally arrested by the Enforcement Directorate on Tuesday in a ₹70-crore money laundering investigation after the agency secured approval from a special court. The arrest came following proceedings before the Special Prevention of Money Laundering Act Court, where Kharat was produced through a production warrant from Nashik jail, where he has remained

The Office of Financial Sanctions Implementation imposed a monetary penalty of £165,000 on Deutsche Bank AG London Branch on April 30, 2026, after determining that the institution committed serious breaches of UK financial sanctions regulations connected to the ongoing Russia conflict. Regulators concluded that the bank processed payment clearings that made significant funds available to an entity directly owned or controlled by a designated person. The case underscores the s

A vast parallel gambling economy is continuing to flourish within the digital shadows of Italy, generating an estimated €20 billion while attracting millions of active users despite mounting enforcement actions, domain shutdowns, and regulatory intervention by state authorities. The illegal online gambling sector has evolved into a highly adaptive digital ecosystem powered by smartphones, social media platforms, disposable domains, and rapidly replicating websites engineered

Pakistan is facing mounting pressure from international financial watchdogs and the International Monetary Fund to strengthen its fight against trade-based money laundering and the circulation of untaxed wealth as the country prepares its federal budget for the 2026-27 fiscal year. The IMF has reportedly issued firm directives demanding that Pakistani authorities implement stronger safeguards against illegal financial flows before the beginning of the next fiscal cycle. The

The Financial Transactions and Reports Analysis Centre of Canada has announced a major enforcement action against Necosmart, issuing an administrative monetary penalty totaling 693,742.50 dollars following the discovery of extensive compliance deficiencies within the company’s anti-money laundering controls. The sanction, finalized on March 27, 2026, underscores the growing intensity of regulatory oversight directed at money services businesses operating across Canada. Accord