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A Brooklyn social adult daycare owner has been sentenced to 76 months in federal prison for her role in a Medicaid fraud and illegal kickback scheme involving approximately $64 million in fraudulent claims. Zakia Khan, 55, was sentenced in federal court in Brooklyn after previously pleading guilty in August 2025 to conspiracy to commit health care fraud and conspiracy to defraud the United States and pay health care kickbacks. She was also ordered to pay more than $56 million

South Africa’s Prudential Authority has imposed financial penalties totalling R35.6 million on Capitec Bank, Albaraka Bank and Ninety One Assurance for breaches of requirements under the Financial Intelligence Centre Act. The sanctions were announced on 11 September 2026 and followed supervisory inspections conducted between 2021 and 2023. Capitec received a total financial penalty of R28 million following an inspection conducted in 2023. Of this amount, R5.5 million was cond

German authorities have conducted coordinated searches against a suspected illegal online gambling operation that allegedly processed more than €5.8 billion in wagers between mid-2021 and the end of 2023. The operation took place on 11 September 2026 in Frankfurt and the wider Rhine-Main region, with 11 properties searched by more than 100 officers. The investigation was conducted by the Frankfurt Public Prosecutor’s Office together with the Frankfurt tax investigation author

India’s Financial Intelligence Unit-India (FIU-IND) has issued non-compliance notices to 15 virtual digital asset service providers over alleged failures to comply with the country’s anti-money laundering requirements. The action was taken under Section 13 of the Prevention of Money Laundering Act, 2002 (PMLA), with separate notices issued seeking the removal of the platforms’ applications and URLs from public access in India. The platforms named by FIU-IND are Weex, operated

A Colombian national has been indicted in the United States over an alleged money-laundering conspiracy involving approximately $135 million in suspected narcotics proceeds, shell-company bank accounts, cryptocurrency exchanges, stablecoins and 207 Colombian bank accounts. William Andres Holguin Mendez, 40, was charged in a single-count federal indictment returned by a grand jury in Greenville, South Carolina. According to the indictment, the alleged scheme involved the movem

Singapore Police are investigating 254 people following a two-week islandwide enforcement operation targeting individuals suspected of involvement in scams either as scammers or money mules. The operation was conducted between 27 August and 9 September 2026 by officers from the Singapore Police Force's Cyber Command and all seven Police Land Divisions. The 254 people comprise 151 men and 103 women aged between 15 and 79. They are believed to be connected to more than 652 repo

The Financial Action Task Force (FATF) has identified a range of money laundering, terrorist financing and proliferation financing risks affecting the global gaming and gambling sectors, including casinos, sports betting, online gambling, lotteries and online gaming. The findings were published on September 9, 2026, following an assessment of developments across the sector. The review covers both land-based and online activities and examines the increasing use of digital plat

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

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

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

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

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

A proposed nationwide prohibition on gambling advertising in the Philippines could place the greatest burden on licensed gaming operators while doing little to curb promotional activity by offshore and illegal gambling platforms, according to two gaming lawyers. Russell Stanley Geronimo, founder of Geronimo Law, told AGB that legislation enacted at the national level could establish advertising restrictions extending beyond operators licensed by the Philippine Amusement and G

A former relationship manager at an international bank in Malaysia has been sentenced to seven years in prison and fined RM40 million after admitting to a scheme that defrauded eight elderly customers of more than RM1.58 million and involved the laundering of the proceeds through third-party accounts. Kho Yung Kang, 39, appeared before the Sessions Court in Kuching and pleaded guilty to 24 charges comprising 16 counts of cheating and eight offences under Malaysia's Anti-Money

The Dutch central bank has moved billions of dollars' worth of gold from North America to London as part of an effort to strengthen its preparedness for a potential crisis, citing what it described as "increasing geopolitical unrest". De Nederlandsche Bank (DNB) confirmed on Wednesday that 86 tonnes of gold had been removed from storage in the United States and Canada during a complicated operation that took several months. The gold has now been placed with the Bank of Englan

Newly examined financial records from Tether's early years have raised questions about the effectiveness of customer due diligence surrounding the issuance of USDT, after several entities and individuals that purchased the stablecoin directly from the company were later connected to sanctions evasion, money laundering, drug trafficking and other financial crimes. The records provide an unusual look at Tether's primary customer base during a period in which USDT was undergoing