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The European Central Bank is advancing its plans to create an integrated European market for tokenised assets, with Executive Board member Piero Cipollone warning that the emergence of fragmented digital platforms could worsen existing divisions across Europe’s capital markets. Speaking on Wednesday at the Deutsche Bundesbank’s Symposium on “Future of payments: trends and innovations in Germany and Europe” in Frankfurt, Cipollone said the ECB was now translating into action a

Massachusetts State Representative Francisco Paulino has been arrested and charged with allegedly fraudulently obtaining more than $700,000 in pandemic-related government assistance and subsequently using part of the money in transactions involving real estate, loans and his own businesses. Paulino, 46, who represents the 16th Essex District covering parts of Lawrence and Methuen, was arrested on 26 August 2026 following a federal grand jury indictment containing 11 charges.

Meta has agreed to pay up to $18 billion to resolve a major legal challenge brought by US states over the treatment of children and teenagers on Facebook and Instagram, in a settlement that could have consequences far beyond the company itself. The agreement brings an abrupt end to a closely watched federal trial in California in which Meta faced allegations that its platforms were deliberately designed to encourage prolonged use among young people, while the company failed t

The Philippine Amusement and Gaming Corporation (PAGCOR) has no immediate plans to reopen applications for new e-gaming operators as it moves to consolidate the country’s domestic online gaming industry, where the number of licensed operators has declined from 74 to just 48. PAGCOR Chairman and CEO Alejandro Tengco said the regulator would maintain the moratorium that has been in place since March 2024, according to comments reported Thursday by The Philippine Star following

The UK Financial Conduct Authority has banned three former senior figures at wealth management firm Dolfin Financial after finding that they operated a scheme designed to help wealthy clients bypass the requirements of the country's investor visa programme. The regulatory action concerns an arrangement that operated between 2016 and 2019 and allegedly enabled at least 99 individuals to obtain UK investor visas without making the level of genuine investment required under the

Vietnam has formally expanded its anti-money laundering framework to address risks associated with crypto assets, marking another major step towards bringing the country's rapidly developing digital-asset market within the scope of financial regulation. The National Assembly approved amendments to the Law on Anti-Money Laundering alongside changes to legislation governing the State Bank of Vietnam and credit institutions. The amendments were approved with 94.6% of lawmakers v

Bulgaria has introduced a new regulatory framework placing gambling affiliates under direct licensing and tax obligations, significantly changing the way businesses can promote licensed gambling operators in the country. The new rules, which entered into force on 1 August 2026, bring affiliate marketing into the scope of Bulgaria’s gambling regulatory system. Affiliates that generate remuneration based on measurable results linked to gambling activity are now required to obta

Two employees of cryptocurrency exchange Binance were detained by authorities in the United Arab Emirates in recent weeks as part of inquiries into possible financial crimes connected to the movement of funds through the platform. The employees were reportedly stopped at airports in the UAE during separate incidents. The circumstances surrounding the detentions initially remained unclear, including the precise nature of the financial activity being examined by authorities. Bi

The Reserve Bank of Malawi (RBM) has raised concerns over an apparent increase in money laundering cases in the country, warning individuals and businesses against becoming involved in transactions designed to conceal the origins of illegally obtained funds. The central bank has stressed that money laundering represents a significant threat to Malawi's financial system and could damage the country's reputation within the international financial community. Authorities are part

The leader of a large organised crime group responsible for trafficking substantial quantities of cocaine, heroin and cannabis across parts of Essex and London has been sentenced to 12 years and six months in prison after spending almost five years evading authorities overseas. Max Matthews, 31, was identified as the senior figure in a criminal network that operated on an industrial scale, moving drugs and large amounts of criminal cash between March and July 2020. Matthews f

Faith leaders in Fiji are calling for stronger families, greater community involvement and closer cooperation with law enforcement as concerns grow over the involvement of young people in crime and a rise in offences targeting homes and places of worship. The call comes amid concerns over break-ins at residential properties and religious sites, with community leaders arguing that tackling crime requires more than policing alone. They say families, religious organisations, sch

The Philippine gambling industry could face a major transformation in how licensed operators attract and retain customers if a proposed law imposing sweeping restrictions on gambling advertising is approved. Senate Bill No. 2347, known as the proposed Gambling Advertising Prohibition Act, would significantly restrict the ability of gambling companies to promote their products across traditional media, digital platforms, social networks and sponsorship arrangements. The propos

A coordinated mortgage fraud problem has been identified across Australia’s lending sector after financial intelligence shared through Fintel Alliance revealed recurring patterns of false and misleading information being used to obtain home loans from multiple major lenders. The investigation began when Commonwealth Bank identified irregularities in mortgage applications and shared the intelligence through Fintel Alliance, a public-private financial crime partnership bringing

An Australian man has been charged following a major investigation into an alleged illegal tobacco and vaping operation that authorities believe generated and handled almost $9 million in illicit proceeds. The case emerged from a four-month investigation in Australia's Northern Territory that initially focused on suspected money laundering before investigators uncovered an alleged commercial operation involving the sale and distribution of illicit tobacco products and vaping

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

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

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

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