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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