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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 Middle East and North Africa Financial Action Task Force (MENAFATF) confirmed on January 5, 2026, that the United Arab Emirates has formally assumed the presidency of the organization for the 2026 term. Represented by Hamid Saif AlZaabi, the UAE steps into the leadership role at a decisive moment, as the region prepares for the third cycle of mutual evaluations and the full application of the Financial Action Task Force’s fifth round methodology. This transition signals a

Hong Kong’s Financial Services and the Treasury Bureau, together with the Securities and Futures Commission, have concluded consultations on the introduction of new licensing regimes for virtual asset dealers and custodians, confirming that operating such businesses without a licence will constitute a criminal offence. Under the proposed framework, unlicensed activity will be punishable by a fine of HK$5 million and up to seven years’ imprisonment, marking a major expansion o

While the European Union continues to push for greater banking consolidation across the continent, Italy’s banking landscape tells a far more complicated story. The attempted takeover of Mediobanca by Monte dei Paschi di Siena (MPS), involving two of Italy’s most prominent financial institutions, has unfolded as a complex interplay of financial manoeuvres, political decisions, and judicial scrutiny. Government support for the creation of a new banking powerhouse has ignited i

Brazil’s Federal Supreme Court has placed all municipal lotteries across the country on immediate hold, casting significant uncertainty over their future.   The precautionary suspension follows a filing from the Solidarity Party, which argued that these locally run lotteries were violating national betting regulations.   The decision, issued on Wednesday by Minister Nunes Marques, freezes every municipal law and decree that establishes, authorises, or governs lottery and spor