Top stories this week:
Zelle Operator Sued for Alleged Fraud Losses | EBA Says SupTech can Sharpen AML/CFT Supervision
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, the operator of Zelle is sued for alleged fraud losses, and the EBA says suptech can sharpen AML/CFT supervision.
In the fast-paced world of sanctions, the UK, France and Germany consider reimposing sanctions against Iran.
In the corruption space, UK MP Tulip Siddiq brands her Bangladesh anti-corruption trial as a ‘farce’.
We round off this week’s roundup with the opportunity to register for an exclusive webinar replay on the impact of US AML whistleblowing legislation on non-US businesses.
KYC & AML
Zelle operator sued for alleged fraud losses
New York’s Attorney General has sued Early Warning Services, operator of Zelle, alleging it failed to protect users from widespread scams.
Commonwealth Bank partners with OpenAI to boost scam detection
Commonwealth Bank of Australia has partnered with OpenAI to develop AI-driven customer support services and advanced anti-scam detection systems.
Former Mallorca anti-narcotics chief arrested in money laundering probe
The former head of Mallorca’s anti-narcotics police has been arrested in a money-laundering investigation linked to a cocaine trafficking route from Ibiza.
EBA says suptech can sharpen AML/CFT supervision
The European Banking Authority has reported that supervisory technology (suptech) is enhancing AML/CFT oversight across EU authorities.
Law Society criticises UK MLR changes as insufficient
The Law Society has criticised HM Treasury’s proposed reforms to the UK’s Money Laundering Regulations as a missed opportunity to meaningfully reduce regulatory burdens on legal practices.
Sanctions
UK, France and Germany consider reimposing sanctions against Iran
The UK, France and Germany have warned they will trigger the UN’s “snapback” mechanism to reimpose international sanctions on Iran if it does not resume nuclear talks and restore IAEA cooperation by the end of August.
Corruption
UK MP Tulip Siddiq brands Bangladesh anti-corruption trial as a ‘farce’
UK Labour MP Tulip Siddiq has condemned her trial in Bangladesh for alleged corruption as politically motivated, describing the proceedings as a “farce.”
KYC360 News
Webinar Replay: The Impact of US AML Whistleblowing Legislation on Non-US Businesses
Join Stephen Platt, CEO and Founder of KYC360, and Stephen Kohn, Partner at Kohn, Kohn & Colapinto LLP, for an exclusive replay of their session at the KYC360 Conference, where they share expert insights into the evolution of U.S. whistleblower legislation.
You'll learn:
-Why the US revolutionised whistleblower laws beyond recognition
-Why white collar crimes violate trust, lower social morale and produce social disorganisation
-The story behind the Danske Bank scandal and the whistleblower who uncovered it
-How whistleblowers exposed the Binance crypto scandal
Date: 20th August 2025
Time: 3:00pm (UK Time/BST)
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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