The International Monetary Fund (IMF) has revised upward its economic growth outlook for Cyprus, projecting stronger performance over the next two years while anticipating a sharp decline in inflation. In its October World Economic Outlook, the IMF forecast that Cyprus’s GDP will expand by 2.9 per cent in 2025 and 2.8 per cent in 2026, marking an improvement from April’s estimates of 2.5 per cent and 2.7 per cent respectively. The latest figures indicate a more optimistic ass

The Dutch gambling authority, Kansspelautoriteit (KSA), has voiced renewed concern that illegal online gambling activity is increasing in the Netherlands, even as the number of player accounts continues to grow. The warning follows the release of new data covering the first six months of 2025, which revealed a decline in gross gaming revenue (GGR) despite a rising number of users engaging in iGaming. According to the KSA’s latest report, total online gaming GGR in the Netherl

The United States Treasury Department’s Office of Foreign Assets Control (OFAC) announced on Tuesday, October 14, 2025, that two individuals who obtained citizenship through Cyprus’s former Investment Program have been added to the US sanctions list. Chen Zhi and Yang Jian were included in the Specially Designated Nationals (SDN) List under Executive Order 13581, meaning that any assets they hold under US jurisdiction are blocked and US persons or entities are prohibited from

In recent years, state-sponsored exporters under sanctions—most notably those from Iran, Russia, and North Korea—have constructed intricate maritime and logistics networks built to disguise and launder export revenues. These “shadow fleet” operations depend on a matrix of corporate layering, ship transfers, forged registries, falsified invoices, and laundering chains that stretch across jurisdictions. The outcome is staggering: billions in illicit revenue find their way into

FinCEN’s June 25, 2025 orders against three Mexico-based financial institutions have set off a chain of events that few anticipated would reach this magnitude. What began as targeted restrictions on certain fund transmittals has now evolved into a test of how signal-based supervisory actions, new statutory powers, cross-border risk appetites, and market confidence interact when pressure mounts. The twice-delayed effective dates and the subsequent voluntary revocation of CIBan

Kalshi has filed a lawsuit against the Ohio Casino Control Commission (OCCC) and the state’s Attorney General to prevent enforcement of a cease-and-desist order issued earlier this year. The action follows warnings from the OCCC to licensed gambling companies about participating in prediction markets. In the complaint, Kalshi asserts that the state’s actions “impair Kalshi’s existing contracts with consumers and business partners, subject Kalshi’s users to uncertainty and los

Lee Gibson, 47, a multimillionaire buy-to-let property tycoon from Leeds, is suing Betfair after losing £1.5 million betting on football over a decade-long period. Gibson, who has been described as a ‘problem gambler,’ told the court that he placed more than 30,000 bets through the betting exchange between 2009 and 2019. Gibson admitted that he initially found gambling “enthralling and exciting,” but his losses eventually became “unsustainable,” culminating in the closure of

Despite being blacklisted in 2022 and repeatedly pursued by regulators and investigators, Garantex and its network of spin-offs have continued to move vast sums across borders. Between 2019 and 2025, blockchain analytics trace approximately $96 billion in transactions to entities linked to Garantex, with at least $1.3 billion directly associated with criminal activity. These flows were not isolated occurrences but part of a sophisticated, parallel payment ecosystem engineered

The recent $650,000 sanction imposed on EFG Capital International underscores one of the most persistent vulnerabilities in cross-border brokerage operations: the gap between automated anti-money laundering (AML) systems and effective human oversight. The Miami-based broker-dealer, known for its extensive dealings with international clients and intricate wealth structures, came under intense regulatory scrutiny after FINRA concluded that its AML program had failed to detect s

Vietnam’s anti-money laundering (AML) efforts have entered a decisive and highly scrutinized stage as the government moves to close the deficiencies highlighted by the Financial Action Task Force (FATF). Since the country’s inclusion on the FATF grey list in 2023, international attention has focused sharply on its financial institutions, digital asset exchanges, and regulators, all of which are under pressure to prove that their compliance reforms go beyond symbolic measures.

Eurobank Limited announced on Friday the successful completion of the merger of its Cypriot insurance subsidiaries, marking a significant...

On October 3, the National Lotteries and Gaming Regulatory Board (NLGRB) officially opened the application period for 2026 gaming and...

A recent enforcement action has placed DMCL Chartered Professional Accountants squarely under the national spotlight, underscoring that...

The European Banking Authority (EBA) has published a report highlighting attempts within the crypto industry to circumvent newly...

Released on October 8, 2025, the European Banking Authority’s (EBA) final implementation review serves as both a progress assessment and...

Cyprus’ long-anticipated tax reform is entering its final stages, with the relevant legal bills expected to be completed within the next...

In an era of increasingly complex regulatory landscapes, the global gaming industry is undergoing a significant transformation — shifting...

A Brazilian congressional joint committee has approved a bill that imposes retroactive taxation on licensed betting operators, although a...

Charlie Javice, the entrepreneur found guilty of defrauding JPMorgan Chase into acquiring her college financial aid startup Frank for...

The U.S. Commerce Department’s Bureau of Industry and Security (BIS) has levied a $685,051 civil penalty against Luminultra Technologies,...