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Mumbai: The Enforcement Directorate (ED) has taken into custody Amitabh Jhunjhunwala and Amit Bapna, both former senior officials of the Anil Dhirubhai Ambani Group (ADAG), in connection with an alleged money laundering investigation involving the diversion of funds from Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL), according to individuals familiar with the matter. The Reliance ADAG group clarified that Jhunjhunwala is no longer associated with

MCAP LLC has been formally censured by the Financial Industry Regulatory Authority following the discovery of substantial shortcomings in its anti-money laundering compliance framework. The enforcement action stems from the firm’s failure to meet essential regulatory obligations, particularly those requiring routine evaluation of systems intended to detect and prevent financial crime. According to the findings, these deficiencies underscore the broader obligation placed on me

Scott-Moncrieff and Associates has lost its appeal against a £68,000 penalty imposed by the Solicitors Regulation Authority after a tribunal confirmed serious shortcomings in the firm’s financial crime controls. The Solicitors Disciplinary Tribunal ruled that the regulator’s original decision was sound, finding that the firm permitted millions of dollars to flow through its client accounts without adequate proof of legitimate legal services underpinning those transactions. Th

A new report from Amnesty International claims that the Cambodian government recently licensed “a dozen casinos” allegedly tied to online scam operations, raising serious questions about Phnom Penh’s commitment to combating cybercrime. Despite recent, highly publicized statements by Cambodian authorities asserting that they are cracking down on criminal online scam compounds, the human rights organization contends otherwise. Amnesty International asserts that “a dozen casinos

On April 8th, Indonesia has deported a British national arrested last month on the resort island of Bali for alleged transnational drug trafficking and money laundering in Spain, immigration authorities confirmed Wednesday. The 45-year-old, identified only by his initials “SL,” was apprehended at Ngurah Rai International Airport last month upon arrival from Singapore, after immigration officers noticed he was on Interpol’s wanted list. He was flown to Jakarta on Tuesday befor

New findings from Global Financial Integrity reveal that illicit financial flows driven by trade misinvoicing across Developing Asia, Africa, and the Middle East and North Africa have climbed to unprecedented levels, posing a serious threat to economic stability and domestic resource generation. These flows—funds that are illegally earned, transferred, or used across borders—continue to expose weaknesses in regulatory systems and customs enforcement, which are increasingly un

A recent report from TRM Labs outlines how Indonesian law enforcement successfully prosecuted three individuals accused of orchestrating the systematic transfer of digital assets to support international militant organizations between 2024 and 2025. These cases, widely regarded as a milestone in regional enforcement, stemmed from detailed financial investigations that uncovered the movement of roughly 49,000 USDT to extremist groups operating in Syria. The outcomes signal a n

A senior figure within Communist Party of the Russian Federation has urged the Kremlin to abandon controversial plans to legalize online casinos, instead advocating for a sweeping crackdown on digital gambling platforms.   Georgy Kamnev, a State Duma deputy and member of the party’s Central Committee, has called for what he described as a “complete ban on online casinos in Russia,” according to reports from the Russian outlet News.ru .   Kamnev argued that authorities should

The public prosecution department is preparing to initiate legal proceedings against Rabobank over its alleged failure to adhere to regulations concerning money laundering and the financing of terrorism. According to a brief statement released on Wednesday, the bank did not adequately examine “unusual transactions” conducted by its clients over an extended period. The investigation, which is approaching its final stages, focuses on activities spanning from October 2016 throug

Swiss financial services firm Leonteq has announced a notable revision to the agenda of its upcoming Annual General Meeting, withdrawing the item related to granting discharge to its board of directors and executive management. The move comes after a period of sustained media attention and scrutiny, with reports from Cash.ch confirming that the board decided to postpone the formal release of management from liability. At the same time, investigative reporting by Inside Parade

A €450,000 penalty handed down by the AMF against Kerdiz Finance et Conseil and its senior managers has brought to light significant shortcomings in anti-money laundering controls, alongside broader regulatory breaches. The ruling targets an investment advisory firm that failed to comply with multiple obligations under French law, with authorities identifying serious weaknesses in due diligence, transaction monitoring, governance structures, and client protection measures. Th

Australian authorities have formally broadened the scope of the country’s anti-money laundering framework, bringing thousands of additional businesses under regulatory oversight. The Australian Transaction Reports and Analysis Centre has initiated the enrolment process for a range of professional sectors that had previously operated outside mandatory reporting requirements. This development represents the most substantial reform to Australia’s financial crime legislation in m

The introduction of the Markets in Crypto-Assets Regulation (MiCA) is transforming Europe’s digital asset landscape while simultaneously bringing new regulatory complexities to the surface, according to George Theocharides, chairman of the Cyprus Securities and Exchange Commission.   Writing in an article originally published in Eurofi magazine, Theocharides characterised MiCA as a fundamental turning point for the European crypto-asset market. He explained that an industry w

Oil prices climbed sharply while global stock markets declined after U.S. President Donald Trump delivered a primetime address from the White House on Wednesday, outlining a more aggressive stance in the ongoing Iran conflict.   In his speech, Trump warned that the United States would strike Iran “extremely hard” within the next two to three weeks. He also urged countries dependent on Middle Eastern oil to take responsibility for maintaining access through the Strait of Hormu

The Financial Crimes Enforcement Network has escalated its efforts to combat widespread healthcare fraud schemes that have drained billions of dollars from both public and private insurance systems while leading to significant criminal penalties. In a recent formal advisory, the agency outlined how medical providers, often in collaboration with organized criminal networks, manipulate insurance frameworks to generate vast illicit profits. Financial institutions are now being d

The Australian Federal Police, working alongside the Joint Threat Financing Group, has issued an urgent warning about the misuse of charitable donations by extremist organizations seeking to fund their operations. Authorities have stressed the severe legal consequences tied to such activities, noting that providing financial support to a terrorist organization can result in a prison sentence of up to 25 years, while direct involvement in terrorism financing carries the possib

Apple Distribution International Limited has been ordered to pay a financial penalty of £390,000 after the Office of Financial Sanctions Implementation concluded that the company breached U.K. sanctions by making prohibited payments to a Russian entity. The case represents a notable development in British financial regulation, marking the first time a sanctions violation has been resolved through a formal settlement mechanism. The violations involved transfers totaling more t

The Crown Prosecution Service has taken a decisive step in combating illicit finance by freezing 85 high-end properties in London valued at approximately $108 million, all linked to a Chinese national suspected of orchestrating large-scale financial crimes. Acting under the Proceeds of Crime Act, authorities have moved to restrict access to assets believed to have been purchased with illegitimate funds, signaling growing concern over the infiltration of questionable wealth in

Recent enforcement measures undertaken by the District Anti-Mafia Directorate in Florence mark a significant milestone in the fight against international money laundering and the abuse of fiduciary responsibility. By freezing assets estimated at around 20 million euros, Italian authorities have effectively dismantled an intricate financial network stretching from Switzerland’s private banking sphere to the high-end real estate market of Tuscany. This operation underscores the

The Solicitors Regulation Authority has concluded a regulatory settlement with Ranson Houghton LLP following an extensive investigation into the firm’s anti-money laundering systems, bringing the matter to a close in March 2026. The outcome followed a desk-based review conducted by the regulator’s proactive supervision team, which uncovered persistent and long-running compliance deficiencies. Central to the findings was the firm’s failure to maintain a properly documented fir