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Cambodia’s General Department of Customs and Excise is in the midst of an extensive institutional transformation aimed at shutting down trade-based money laundering risks that pose a serious threat to the country’s fiscal stability. With technical support from the International Monetary Fund, the government is rolling out six separate revenue-mobilisation measures designed to strengthen its ability to fund public services without relying on external assistance. Central to thi

Leonardo Ayala has admitted to participating in an extensive illicit financial operation in which he accepted more than $6,000 in bribes while helping launder approximately $5.5 million to Colombia during his employment at a major U.S. bank. Federal authorities disclosed that Ayala abused his internal access to open fraudulent accounts and issue hundreds of debit cards that bypassed standard security controls. Those accounts were subsequently used to carry out more than 12,00

A former relationship manager at a Brooklyn bank branch, Renat Abramov, pleaded guilty today to laundering more than $8 million derived from an expansive Medicare fraud operation.   Federal authorities described the case as a landmark moment, noting that it is the first time the Health Care Fraud Unit has obtained a conviction against a bank employee for conspiring to launder medical insurance proceeds.   Abramov now faces a maximum statutory sentence of up to 20 years in pri

Federal authorities today imposed a two-year prison sentence on a New York City accountant for her participation in an expansive Chinese money laundering operation that moved tens of millions of dollars in drug proceeds through the U.S. financial system. Rui Fang Yu, 40, of Queens, admitted to helping transfer more than $20 million derived from international narcotics trafficking. Investigators determined that the money stemmed from the sale of heroin and cocaine by a U.S.-ba

A criminal court in Kuwait has imposed seven-year prison sentences on nine individuals convicted of running an online gambling platform and laundering the proceeds of illegal activity, in what authorities characterised as an organised criminal enterprise.   In addition to the custodial sentences, the court ordered each of the nine defendants to pay a fine of KD1m (approximately $3.3m). This brings the combined personal fines to KD9m (around $29.7m).   The court also levied a

The Korea Customs Service has successfully dismantled a major criminal network that laundered 148.9 billion won through unauthorized digital asset transfers, authorities confirmed. Investigations revealed that three Chinese nationals orchestrated the elaborate scheme by exploiting domestic bank accounts and international cryptocurrency platforms between September 2021 and June of the previous year. The suspects have been referred to the prosecution for serious violations of t

On 1 January 2026, the European Union reached a decisive moment in its campaign against financial crime as the European Banking Authority formally completed the transfer of all anti-money laundering and countering the financing of terrorism responsibilities to the Authority for Anti-Money Laundering and Countering the Financing of Terrorism. The handover represents a major step toward centralizing oversight at the EU level and safeguarding the integrity of the single market.

The Council of Europe’s anti-money laundering monitoring body, MONEYVAL, has published a new set of follow-up reports assessing the performance of Georgia, Montenegro, Poland and Slovakia, revealing mixed outcomes in how effectively these countries have strengthened their frameworks to combat illicit finance. While several states have recorded meaningful legislative and regulatory advances, others continue to face persistent shortcomings in meeting technical compliance standa

Authorities in the United States have broadened their enforcement campaign against overseas groups accused of washing billions of dollars in illegal profits through elaborate shadow banking arrangements, a move that follows a detailed briefing from the Congressional Research Service on how these specialized systems enable financial crime for transnational organizations such as the Sinaloa Cartel. The briefing explains that these syndicates rely on underground banking structur

The unsealing of a federal indictment in Cincinnati has brought to light an enormous financial scheme designed to funnel the profits of illegal narcotics sales across international borders. Yan Lin, a 41-year-old California resident, has appeared in court to answer charges alleging that he laundered tens of millions of dollars for Mexico-based drug trafficking organizations. Prosecutors say that from early 2022 through late 2024, Lin ran a highly sophisticated operation that

Prosecutors in Taipei have concluded one of the most sweeping financial crime indictments in recent regional history, charging thirty-five people for their roles in an elaborate underground banking and gambling operation that funneled more than 30.6 billion New Taiwan dollars, roughly equivalent to $970 million USD, through sophisticated digital channels. At the center of the case is a man who publicly appeared to be running a well-known Hong Kong–style restaurant while cover

The Federal Bureau of Investigation has dismantled the infrastructure behind E-Note, a long-running digital laundering platform that investigators say was responsible for processing approximately seventy million dollars in criminal proceeds. The enforcement action targeted a Russian national accused of operating the service and now facing a potential sentence of up to twenty years in federal prison. Through coordinated efforts with international law enforcement partners, auth