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Cyprus ranked among the European Union member states where foreign-controlled companies accounted for the smallest share of employment and economic output in 2023, according to data published by Eurostat on Wednesday. Despite the significant overall impact of foreign-controlled enterprises across the EU, their presence in Cyprus remains comparatively limited. Based on figures that include both employees and self-employed individuals, foreign-controlled enterprises in Cyprus r

A 47-year-old woman in the United Kingdom has been sentenced to 11 years in prison after authorities uncovered her role in controlling a vast cryptocurrency laundering operation tied to an international investment fraud. Investigators found that she attempted to convert billions in digital assets into luxury properties, jewelry, and cash, using complex schemes to disguise the true source of the funds. According to law enforcement, the woman spent several years amassing large

Strengthening player safety through an effective fight against the illegal gambling market and building public trust were emphasized as key priorities by the President of the National Betting Authority (NBA), Panagiotis Trisokkas, who represented the Authority at the SiGMA Central Europe Summit held in Rome from November 4 to 6. The SiGMA Central Europe Summit, one of the leading international gatherings in the gaming sector, brought together thousands of professionals, regul

Former Speaker of the House Arthur Lira has called on Brazil’s Federal Government to focus on combating illegal betting operations before pursuing higher taxes on licensed companies.   Speaking to journalists during an event in São Paulo, Lira said that betting is “inevitable” in Brazil and argued that prohibition is not an effective approach to managing the industry.   The congressman emphasized that authorities should prioritize enforcement against unlicensed betting platfo

The $456 million reserve shortfall that prompted Justin Sun to bail out holders of the TrueUSD stablecoin is now the subject of a global freezing order upheld by Dubai’s Digital Economy Court. The dispute revolves around whether funds from TrueUSD’s reserves were improperly directed to Aria Commodities DMCC, a Dubai-based trade-finance firm involved in financing commodity shipments, mining projects, and other illiquid ventures across emerging markets, according to counsel for

The Bank of Cyprus announced on Tuesday that it achieved a profit after tax of €353 million for the nine months ended September 30, 2025, maintaining stable profitability and reinforcing shareholder confidence amid continued economic resilience. “We are pleased to announce another set of strong financial results, generating in the first nine months of 2025 a profit after tax of €353m,” said Bank of Cyprus CEO Panicos Nicolaou. “This performance reflects the resilience of our

The National Bank of Greece (NBG) has announced that, following meetings of its Board of Directors held on September 18 and October 22, 2025, it will distribute an interim dividend to shareholders for the 2025 financial year, underscoring the bank’s robust profitability and commitment to enhanced shareholder returns. A total gross amount of €200 million will be distributed in cash, equivalent to €0.2186 per share. This figure will be adjusted to include shares held by the ban

Beximco has emerged at the center of a sweeping money laundering investigation in Bangladesh after authorities uncovered what they believe to be a sophisticated system designed to channel export proceeds abroad without repatriating the funds. Investigators allege that once export documents—including invoices and shipping papers—were prepared, banks processed the transactions as standard trade operations. Letters of credit were issued, and the shipments were logged as complete

The Netherlands’ gambling regulation entered a new phase in July 2025 as the Kansspelautoriteit (KSA) significantly expanded its enforcement scope, extending its oversight beyond licensed operators to include affiliates, media organisations, and marketing agencies. This development represents a decisive shift in the regulator’s strategy, designed to dismantle the broader ecosystem that sustains illegal and non-compliant gambling activity across the Dutch market. For the first

The Bank of England (BoE) has unveiled a consultation paper detailing its plans to regulate systemic stablecoins, digital currencies designed to maintain a stable value against the pound sterling. The proposals, published on November 10, aim to ensure that stablecoins are sufficiently secure for everyday payments while protecting the broader UK economy. Systemic stablecoins are digital tokens whose value is linked to traditional money, such as the pound, or to assets like gov

The Coalition of Good Governance (CCG), a civil and public interest consortium in Nigeria, has strongly condemned the National Assembly’s renewed attempt to push the Nigeria Central Gaming Bill, branding it a “voyage of legislative rascality, recklessness and lawlessness” during a recent media briefing. The controversy traces back to July, when the Federation of State Gaming Regulators of Nigeria (FSGRN) voiced strong opposition to the bill, which seeks to grant the federal g

Lebanon faces an intricate financial crime landscape shaped by overlapping sanctions pressure, a fragile economy, and a deep-seated reliance on informal cash transactions. Authorities have pledged to restrict illicit flows linked to Hezbollah, a group sanctioned by several Western governments and accused of managing foreign-sourced funds through opaque channels. Officials maintain that the country is enforcing robust anti-money laundering measures and insist that “financial c

The European Commission has moved to further tighten visa procedures for Russian citizens, announcing the abolition of multiple-entry visas and the introduction of more rigorous checks across all EU member states.   The decision, which Brussels attributes to heightened security concerns linked to the ongoing war in Ukraine and the rise of “hybrid threats,” marks another escalation in the bloc’s response to Moscow’s continued aggression.   Executive Vice President Henna Virkun

In a quiet but decisive policy update on October 28, 2025, Google formally reclassified sweepstakes casinos as gambling platforms, ending years of uncertainty over how dual-currency operators such as WOW Vegas, Pulsz, and McLuck are categorized within the company’s advertising system.   The amendment appeared in Google’s Gambling and Games Policy, with a brief but pivotal clarification: “Sweepstakes casinos are not social casino games.”   That single line has sweeping implica

Norsk Rikstoto has come under intense regulatory scrutiny after Norway’s Gambling Commission and the national financial supervisory authority identified severe breaches of anti-money laundering (AML) requirements across the operator’s activities.   The findings point to a systematic breakdown of compliance, where key controls were missing, legal duties ignored, and decisions left undocumented—seriously impairing the company’s capacity to detect and report suspicious behavior.

One of the largest anti-money laundering (AML) supervision failures in Europe’s virtual asset sector has come to light, as the Bank of Ireland imposed a €21.4 million fine on Coinbase Europe after regulators discovered that more than 30 million crypto transactions escaped detection entirely.   The incident has exposed deep flaws in the company’s transaction monitoring systems—ranging from design and governance weaknesses to delayed disclosure, vendor oversight lapses, and a b

A newly revealed £33.7 million mansion in one of London’s most exclusive neighborhoods has ignited sharp concern within anti–financial crime and sanctions enforcement circles.   The property has been traced to a sanctioned Iranian banker, accused of channeling funds through high-risk financial networks and using luxury real estate as a shield to safeguard wealth from regulatory oversight. The case underscores how high-value property can become a covert financial vehicle, desi

Thailand’s government is preparing to launch a dedicated task force aimed at tracing suspicious financial transactions connected to online gambling, scam operations, and other illicit activities believed to be influencing the baht’s unusual strength.   Finance Minister Ekniti Nitithanprapas announced on Wednesday that the new “data bureau” will integrate and synchronize information across multiple government departments and financial institutions to improve oversight and iden

The Swedish Gambling Authority, Spelinspektionen, has officially prohibited CGG Entertainment Ltd from offering games in Sweden after determining that the company was targeting Swedish players without the required licence. CGG Entertainment Ltd, a Cyprus-registered company operating the website cases.gg , allows users to participate in lotteries for goods and purchase so-called ‘mystery boxes,’ where players risk their stake for a chance to win a prize. According to Spelinspe

The European Commission is preparing a sweeping overhaul of financial market oversight that would bring stock exchanges, cryptocurrency trading platforms, and clearing houses under central EU supervision. The initiative aims to address fragmentation across Europe’s financial landscape and strengthen the bloc’s competitiveness against the United States. Currently, dozens of national and regional regulators oversee hundreds of trading and post-trade institutions across the EU —

JPMorgan Chase (JPM.N) disclosed in a regulatory filing on Tuesday that it is cooperating with inquiries from government agencies and other entities concerning its internal policies and procedures, as the Trump administration intensifies its focus on alleged “debanking” of specific industries or clients. The U.S. Office of the Comptroller of the Currency (OCC) issued new guidance in September designed to discourage banks from closing customer accounts based on political or re