Top stories this week:
Vanquis Bank Issued OFSI Disclosure Notice for Sanctions Breach | Swiss Lawmakers Push Back on AML reforms
Welcome to this week's edition of the KYC Roundup, your gateway to the most impactful developments in the world of Anti-Money Laundering (AML) and financial crime. In the AML arena, Swiss lawmakers push back on AML reforms, and the UK Serious Fraud Office recovers £1.1million with its first Unexplained Wealth Order.
In the fast-paced world of sanctions, Roman Abramovich loses his EU sanctions appeal, and Vanquis Bank is issued with an OFSI disclosure notice for a sanctions breach.
In the corruption space, Albania appoints the world’s first AI Minister to tackle corruption.
We round off with details of KYC360’s latest recognition as a category leader by Chartis Research.
KYC & AML
Swiss lawmakers push back on AML reforms
Lawmakers have called on the Swiss government to ease its AML drive, warning that new requirements could undermine the country’s competitiveness as a global financial hub.
Money mule networks surge by 168% in U.S.
A report from BioCatch has revealed that U.S. money mule cases rose by 168% in the first of 2025, driven largely by scams utilising stablecoins as the preferred transaction method.
Netherlands launches AI chatbot to support financial crime investigations
The Netherlands FIOD (Fiscal Information and Investigation Service) has developed the AI-powered tool to support financial crime investigators in sifting through large amounts of data, and it can provide interpretations of laws and regulations.
UK Serious Fraud Office recovers £1.1million with first Unexplained Wealth Order
The UK’s Serious Fraud Office (SFO) recovered £1.1 million from the sale of a luxury property belonging to the ex-wife of a convicted fraudster.
Sanctions
Roman Abramovich loses EU sanctions appeal
The Russian Israeli billionaire, who is former owner of Chelsea F.C., has lost his legal challenge to overturn sanctions imposed after Russia’s invasion of Ukraine in 2022.
European Commission President Ursula von der Leyen calls for sanctions against Israel
In her annual State of the Union address, the European commission President called for sanctions against extremist ministers and violent settlers and a pause to an EU-Israel trade agreement.
Vanquis Bank issued OFSI disclosure notice for sanctions breach
The UK sanctions enforcer issued the notice after the bank allowed a “designated person” to withdraw £200 cash from their Vanquis account, a day after the OFSI had informed the bank of the designation.
Corruption
Albania appoints AI Minister to tackle corruption
Albania has become the first country to appoint an AI-powered “virtual minister” to oversee public procurement.
KYC360 News
KYC360 Recognised as Category Leader for Screening Solutions
KYC360 is proud to be recognised once again as a Category Leader in the Chartis Research RiskTech Watchlist and Adverse Media Monitoring Solutions 2025 report.
This recognition underscores our position as an innovator in KYC Screening and reflects the dedication of our teams in delivering world-class solutions that enable organisations to comply and outperform.
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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