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Singapore Police to charge four men over alleged laundering of at least S$300,000 in scam proceeds
After a 16-hour operation, the Singapore Police Force says it will charge four men who allegedly collected cash, gold and jewellery from scam victims and scam mules. Police allege they laundered at least S$300,000 in scam proceeds.
EU lists 3 individuals and 9 entities for helping Russia get around EU sanctions
On 15 October 2026 the Council of the EU added three individuals and nine entities to its Russia sanctions list. The Council says they helped bring sanctioned goods into Russia or get around EU oil and finance sanctions.
White House order sets Graham Act tariffs, then waives them and a long list of the Act's sanctions
An order dated 16 October 2026 implements the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. It sets tariff increases on Russia and on countries tied to Russian oil, but waives those duties and a long list of the Act's sanctions provisions.
Switzerland's third national money laundering risk report finds risk exposure stable
The Swiss Federal Council was briefed on 14 October 2026 on the third national risk report on money laundering and terrorist financing. The report names organized crime, corruption, and asset and tax crime as the greatest threats.
Two Georgia inmates sentenced for prison-run jury-duty scam and laundering conspiracy
The US Attorney's Office for the Middle District of Georgia says Lance Riddle and Joey Amour Jackson, inmates at Calhoun State Prison, were sentenced to 200 and 120 months after a jury convicted them of wire fraud and money laundering conspiracies. Prosecutors say the scheme caused more than $464,920 in documented losses from 119 victims.
Phoenix man gets 10 years for $2.2 million COVID-19 loan fraud, including laundering conspiracy
The US Attorney's Office for the District of Arizona says Mohammed Maio, 44, was sentenced to 10 years in prison after pleading guilty to charges that include conspiracy to commit money laundering. Prosecutors say he used false information to obtain nearly $2.2 million in COVID-19 relief loans for businesses that had no employees.
OCC fines Bank of America $750 million over deficient BSA/AML compliance program
The Office of the Comptroller of the Currency (OCC) imposed a $750 million civil money penalty on Bank of America, N.A. The OCC says the bank's transaction monitoring failed to properly monitor trillions of dollars in transactions.
OCC launches tool for community banks to report suspected payments fraud
At a meeting with community bankers in Minneapolis, Comptroller of the Currency Jonathan V. Gould announced a new way for community banks to report suspected payments fraud directly to an OCC fraud taskforce.
Jamaican man extradited to Michigan gets 72 months for $3.4 million fake lottery scheme
Sefton Olivair Stewart was sentenced to 72 months in prison for a fake lottery prize scheme that took $3.4 million from 28 victims; a co-conspirator who pleaded guilty to conspiracy to commit money laundering earlier received 37 months.
Florida man gets 51 months for money laundering in a $3 million real estate investment scheme
Joshua Thomas Jackson, who pleaded guilty to money laundering, was sentenced on 15 October 2026 to 51 months in prison; the US Attorney's Office says he took over $3 million from investors with false claims about real estate investments.
Brazilian man gets 12 years for managing a $30 million-plus laundering ring that moved drug cash
Ygor Fokin Saviolli was sentenced on 16 October 2026 to 12 years in prison for his role as a manager and supervisor in a group that the Justice Department says laundered more than $30 million, including drug trafficking proceeds.
New Jersey federal court convicts man of laundering money orders from a stolen safe
Ruben Cruz was convicted on 15 October 2026 after a trial in Camden federal court of stolen property offences, conspiracy to launder money and seven money laundering counts over a safe taken from a Glassboro business.
Indian national pleads guilty to elder fraud conspiracy run from prison with a smuggled phone
Sumit Kumar Singh, 32, an Indian national already serving a federal sentence for mail fraud against elderly victims, pleaded guilty to conspiracy to commit mail fraud, the US Attorney's Office for the Southern District of Texas said on 15 October 2026.
Sports gambler pleads guilty in basketball game-fixing and NBA betting cases, including laundering
Shane Hennen, 41, of Las Vegas and Philadelphia, pleaded guilty to bribery in sporting contests and wire fraud charges in Pennsylvania, and to wire fraud conspiracy and money laundering conspiracy charges from a New York case, the US Attorney's Office for the Eastern District of Pennsylvania said on 15 October 2026.
Missouri man pleads guilty to wire fraud and money laundering in $3.8 million Ponzi scheme
Trevor Uhls, 29, of Lee's Summit, Missouri, pleaded guilty to one count of wire fraud and one count of money laundering, the US Attorney's Office for the Western District of Missouri said on 15 October 2026.
NYDFS fines SEB $33 million over AML and transaction monitoring failures
Skandinaviska Enskilda Banken AB and its New York Branch agreed to pay a $33 million penalty under a consent order with the New York State Department of Financial Services. The case grew out of DFS reviews that followed the 2016 Panama Papers leak.
Russian national extradited to US on charges of shipping US electronics to Russia
Alexander Suvorov was extradited from Sweden to the Northern District of New York on 15 October 2026. A criminal complaint charges him with conspiracy to commit international promotional money laundering, outbound smuggling and export control violations.
US sanctions Iraqi bank, Iranian offshore banks and exchange houses, and a Cuban bank over Iran
On 15 October 2026 Treasury designated an Iraq-based bank it says gives Iran access to US dollars, two Iranian offshore banks, an oil trustee and shadow banking operatives, while the State Department designated Cuba's Banco Internacional de Comercio.
FinCEN alert asks banks to report Iranian regime abuse of religious charity networks
Under Operation Economic Outcast, FinCEN issued an alert on 15 October 2026 asking financial institutions to report possible abuse of religious charity networks by the Iranian regime, including the diversion of religious tithes known as khums.
Pennsylvania jury convicts business owner on 30 counts of fraud and money laundering
A federal jury in Pittsburgh found Seth Allen Aikens II guilty on 14 October 2026 of wire fraud, mail fraud and money laundering over a scheme in which prosecutors say he falsely claimed software expertise to win clients.
Bosnian arms dealer gets 60 months for trying to broker North Korean missile deal
Sasa Micev pleaded guilty to violating US sanctions on North Korea after trying to broker the sale of SA-18 Igla portable surface-to-air missiles from North Korea. He was sentenced to 60 months in federal prison.
Washington pastor charged with wire fraud and money laundering in $13 million investment scheme
Federal prosecutors say the pastor of a Kirkland church recruited more than 30 investors into a company he ran and moved investor money to himself and his family.
EU sanctions three people and four entities over North Korea's weapons programmes and Russia ties
The Council of the EU added three individuals and four entities to its own North Korea (DPRK) sanctions list. The listings target missile work, DPRK workers in Russia, joint projects with the DPRK and a vessel the Council links to petroleum shipments from Russia.
Three charged in Georgia over $74 million tax refund scheme, including laundering conspiracy
The US Justice Department says three Atlanta-area residents used ITINs obtained in other people's names to file false returns and cashed more than 16,000 Treasury refund checks worth over $74 million. They are charged with fraud and money laundering conspiracy.
Bank of America settles with OFAC for $11,662,930 over 475 apparent sanctions violations
OFAC says Bank of America, N.A. processed payments through blocked banks and for sanctioned people between 2021 and 2025, after screening, alert and watchlist failures. OFAC found the case non-egregious, and most of the apparent violations were not voluntarily self-disclosed.
Treasury sanctions Cartel del Noreste network tied to horse racing, construction and fuel firms
OFAC sanctioned four individuals and 11 entities it links to Cartel del Noreste (CDN), including a racetrack, a racing barn, construction and gas companies and a trucking firm in Mexico.
Straw owner pleads guilty to laundering proceeds of $6 million Medicare billing scheme
A Massachusetts man who posed as owner of a New Hampshire medical supply company pleaded guilty to money laundering conspiracy.
FinCEN fines Bank of America $1.2 billion over AML and suspicious activity reporting failures
FinCEN assessed a $1.2 billion penalty against Bank of America, N.A., which admits it willfully violated the Bank Secrecy Act. FinCEN's release says the OCC and OFAC also took action against the bank.
Nexus IFA director and manager plead guilty in FCA fraud case; director admits money laundering
A director and an operations manager of two FCA-authorised firms admitted defrauding clients, who lost £2m. The director also admitted a money laundering offence.
International week of action against West African scam networks leads to 28 arrests
Law enforcement and private companies acted against scam networks in West Africa, removing more than 3.7 million online accounts and identifying at least $11 million in potentially freezable funds.
US charges and laptop farm searches target North Korean remote IT worker schemes
The Justice Department announced an indictment, two arrests and searches of more than 40 Texas homes in schemes it says placed North Korean IT workers at more than 70 US companies.
EU sanctions 826 Russian defence-industry companies and 743 of their chief executives
The Council of the EU listed 826 Russian companies and 743 individuals who head them, which it calls the single largest set of listings it has agreed.
34 state financial regulators reach $2.5 million BSA/AML settlement with crypto kiosk operator Coinme
State financial regulators say Coinme Inc. has agreed to pay $2.5 million and to end its virtual currency kiosk operations by 1 January 2027, or face an additional $4 million penalty.
American Express bank to pay $350 million OCC penalty over financial crimes compliance
American Express says its national bank agreed to a $350 million civil money penalty from the OCC, and the parent company agreed to a Federal Reserve order. Both orders resolve regulator reviews of its financial crimes compliance program.
BaFin fines abcfinance GmbH €90,000 for filing suspicious transaction reports late
Germany's financial supervisor BaFin has fined abcfinance GmbH €90,000 under the German Money Laundering Act. BaFin says the firm filed several suspicious transaction reports late in April 2025.
Rank Group casino operators to pay £5m over AML and safer gambling failures
Britain's Gambling Commission says three Rank Group companies running 51 casinos failed to apply proper anti-money laundering checks. The companies agreed to a £5 million settlement and an independent audit.
OFAC removes 125 sanctions listings in third modernization round
On October 5, 2026, OFAC removed 125 individuals and entities from its sanctions lists and updated 22 other entries. Treasury says the removed entries lacked sufficient information for robust compliance screening.
OFAC warns foreign banks still doing business with Iran
On October 5, 2026, OFAC issued a notice to foreign financial institutions that keep serving Iran or its financial sector. The notice warns these banks they risk sanctions, and an updated OFAC FAQ explains how their US correspondent accounts could be restricted.
Swedish financial police map SEK 2.9 billion in suspected laundering by Russian networks
A report by Finanspolisen, the financial police unit of the Swedish Police Authority, says the systematic money laundering of Russian organised crime is continuing. A joint operation with several banks analysed SEK 2.9 billion in suspicious transactions moved mainly through false invoices and conduit companies.
Florida jury convicts woman of wire fraud and money laundering in $2.9 million grant scheme
Treashonna P. Graham of Lake City, Florida was convicted on all 13 counts, including money laundering. Prosecutors say her company, Grant Bae, charged more than 1,000 people fees to find government grants but never did the work.
Trucking firm owner pleads guilty to laundering over $1 million taken from USPS
Khayyam Arif Oglu Farajov, an Azerbaijani national who ran an Orlando trucking and freight brokerage, pleaded guilty to wire fraud and money laundering. Prosecutors say he was paid for mail routes his company never ran and moved the money through shell company accounts into brokerage accounts.
Freight forwarder Pegasus Worldwide Logistics settles with OFAC for $175,015
OFAC says the firm helped import a machine supplied by a sanctioned company and took six months to fully answer an OFAC subpoena.
Hong Kong Customs investigates watch cash deals by an unregistered precious metals dealer
Hong Kong Customs says a local company carried out cash transactions in watches containing precious metals and stones, valued at over HK$120,000, without the Category B registration required under Hong Kong's AML law. An investigation is ongoing.
BaFin sets new deadlines for Deutsche Bank to fix AML transaction monitoring shortcomings
Germany's financial supervisor BaFin has ordered Deutsche Bank AG to remedy shortcomings in the systems it uses to monitor transactions for money laundering and terrorist financing, with new deadlines for some of them. The order updates earlier orders from April 2021 and November 2023.
Wisconsin courier gets 84 months for laundering over $1 million from Phantom Hacker scam victims
Ankurkumar Patel of Brookfield, Wisconsin was sentenced to 84 months in prison and ordered to pay over $1.3 million in restitution. He had pleaded guilty to money laundering conspiracy for laundering over $1 million stolen from elderly victims in multiple states.
UK sanctions crypto exchanges and payment firms it links to Russia's A7 network
The UK announced 38 new Russia sanctions designations on 8 October 2026. They include three crypto exchanges and two payment platforms, two of which the UK says processed transactions with the A7 illicit finance network.
Treasury sanctions 17 tankers in Iran's shadow fleet under Operation Economic Outcast
The US Treasury sanctioned 17 vessels it says carried Iranian crude oil, petroleum products and petrochemicals to South and East Asia, along with the companies behind them.
RBI fines Bihar co-operative bank ₹5 lakh for late uploads of KYC records to CKYCR
The Reserve Bank of India has fined The Monghyr-Jamui Central Co-operative Bank Limited for not uploading customers' KYC records to the Central KYC Records Registry on time.
Federal Reserve issues AML cease and desist order against American Express
On October 8, 2026, the Federal Reserve Board announced a consent order against American Express Company over failures to detect, investigate and report certain suspicious activity. The OCC took a separate action against the company's national bank.
Leader of money mule network for hackers pleads guilty in US
Oleg Korniev, a leader of Your Mule Cashout (YMCO), pleaded guilty to money laundering and computer fraud charges. The Justice Department says YMCO used over 15,000 US-based money mules to move at least $10 million stolen by hackers.
DOJ Fraud Division directive calls for early asset seizures and multi-angle fraud cases
The US Justice Department's National Fraud Enforcement Division issued Directive 26-13, setting out how its prosecutors should investigate, disrupt and prosecute fraud. It stresses early asset seizures and takedowns of the digital tools behind schemes.
Jury convicts Maryland man of laundering proceeds of $53m Uranium Finance crypto hack
A federal jury in Manhattan found Jonathan Spalletta guilty of computer fraud and money laundering. Prosecutors say he drained a decentralized crypto exchange in 2021 and moved the funds through the Tornado Cash mixer.
DOJ opens third and final phase of Western Union fraud victim compensation
The Justice Department has reopened its petition process for people defrauded through Western Union money transfers. The DOJ says Phase Three provides $3.4 million in remission to 1,294 victims.
Ransomware recovery firm owner charged with secretly paying hackers and overbilling clients
The Justice Department says Zohar Pinhasi of MonsterCloud falsely claimed he could decrypt ransomware without paying cybercriminals. Prosecutors allege he secretly paid the attackers and charged clients far more than the ransom.
AMLA sets out five AML priorities for the EU's review of the MiCA crypto rules
The EU Anti-Money Laundering Authority (AMLA) has answered the European Commission's consultation on the Markets in Crypto-Assets (MiCA) Regulation, naming staking, DeFi and stablecoins among its concerns.
AMLA consults on rules for a central EU-wide AML/CFT supervisory database
The EU Anti-Money Laundering Authority (AMLA) has published draft technical standards for a central AML/CFT database and will hold a public hearing on 3 November 2026.
California man pleads guilty to $1.8 million romance fraud against two elderly women
Troy Clinton Van Sickle, 55, of Temecula pleaded guilty, admitting that he stole more than $1.8 million, according to the US Attorney's Office for the Southern District of California.
Treasury says Do Not Pay now reaches 99% of federal programs, with $3.7 trillion in payments screened
The US Treasury reported its Fiscal Year 2026 results on stopping fraud and improper payments. Access to its Do Not Pay screening tools rose from about 4 percent of federal programs to about 99 percent.
FINRA fines Revere Securities $800,000 over AML failures in small-cap IPOs
FINRA says Revere Securities LLC missed red flags in foreign-based small-cap IPOs that bore hallmarks of potential ramp-and-dump schemes. The firm settled without admitting or denying the findings.
Former TD Bank employee pleads guilty to laundering $4.8 million to Colombia
Gerardo Aquino, a former TD Bank employee, pleaded guilty to money laundering conspiracy and taking bribes as a bank employee, the US Justice Department said on October 6, 2026. According to the DOJ, he opened fake accounts and issued debit cards used to move about $4.8 million out of the US.
Jury convicts US-based coordinator who laundered cash and gold from India call center elder fraud
A federal jury in Austin, Texas convicted Bhavesh Kumar Thakkar, an Indian national, on two counts related to wire fraud and money laundering. Prosecutors say he was directly connected to over $150 million in fraud proceeds taken from elderly victims.
Iowa man pleads guilty to laundering over $21 million in fraudulent bank loan funds
Curtis Weston of Rockwell City, Iowa, pleaded guilty to one count of money laundering. According to the U.S. Attorney's Office for the Northern District of Iowa, the funds came from loans taken out fraudulently in his name and the names of 26 unwitting customers.
FinCEN withdraws two proposed crypto rules, including the mixer special measure
The proposals on unhosted wallets and crypto mixing were withdrawn on 5 October 2026 as part of what FinCEN called the administration's deregulatory agenda.
Cash courier pleads guilty to laundering $597,100 from government impersonation scam victims
Binghui Liu pleaded guilty in federal court in California to conspiracy to commit money laundering. According to the U.S. Attorney's Office for the Eastern District of California, he collected about $597,100 in cash from 24 victims of a scam in which callers posed as federal officials.
DNB fines Modulr Finance B.V. €722,160 over weak customer monitoring
De Nederlandsche Bank (DNB) fined Modulr Finance B.V. for failing to monitor customers and transactions properly between January 2023 and July 2024. The firm accepted the facts and settled.
Treasury sanctions France-based "charities" it says funded Hamas
Two purported aid groups and three individuals were designated on 2 October 2026. Treasury says they raised more than $2 million and sent hundreds of thousands of dollars in cryptocurrency to a Hamas member in Gaza.
US moves against the A7 Network, a shadow banking network Treasury says Iran uses to evade sanctions
On 1 October 2026, OFAC sanctioned the network and FinCEN proposed cutting its sub-agents off from US fund transfers, alongside a new alert for banks.
Former Nodus Bank chairman sentenced to 62 months for wire fraud conspiracy
The Justice Department says Juan Francisco Ramirez, former board chairman and co-owner of Puerto Rico's Nodus International Bank, was sentenced to 62 months in prison. According to the DOJ, his actions caused the bank to lose at least $23,613,371.
Former senior federal official pleads guilty to $194 million fraud paid out in gold, homes and watches
David J. Rush of Ashburn, Virginia, admitted defrauding the US government by inventing fake programs to obtain funds, the Justice Department said. He agreed to forfeit 298 gold bars, cash, property and luxury goods.