Top stories this week:
FinCEN Issues New SAR Guidance to Streamline Reporting | UK to Move to Single Consolidated Sanctions List by 2026
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, FinCEN issues new SAR guidance to streamline reporting, and the EBA warns of compliance risks during the transition to MiCA.
In the fast-paced world of sanctions, the UK will move to a single consolidated sanctions list by 2026, and the U.S and UK impose sanctions against Southeast Asian scam networks.
In the corruption space, a nationwide survey reveals that most Filipinos see government corruption as widespread.
We round off this week’s roundup with access to free demo courses from the KYC360 Academy.
KYC & AML
FinCEN issues new SAR guidance to streamline reporting
FinCEN has released updated FAQs on Suspicious Activity Reports (SARs). The clarified requirements aim to reduce unnecessary filings and improve the quality of submissions.
FSB highlights AI risks in financial sector
The Financial Stability Board has reported growing AI use across the financial sector, flagging vulnerabilities around model opacity and data quality.
EBA flags rising consumer risks in white-labelling
The European Banking Authority has warned that the growing use of white-labelling, where a financial institution provides services under the brand of a partner, poses consumer protection risks.
Mexico revokes CIBanco licence
Mexican authorities have revoked CIBanco’s operating licence and ordered its liquidation after the bank was sanctioned by the U.S. for alleged money laundering linked to fentanyl trafficking. The country’s deposit insurance agency, IPAB, has begun reimbursing insured customers and managing the resolution process.
EBA warns of compliance risks during transition to MiCA
The EBA has warned of crypto firms registering in EU nations perceived to have lax regulatory environments ahead of the full implementation of the Markets in Crypto-Assets Directive (MiCA), which unifies governance for crypto-asset providers across the bloc.
Sanctions
UK to move to single consolidated sanctions list by 2026
The OFSI Consolidated List will be frozen effective 28 January 2026, with the UK Sanctions List becoming the sole list for all UK sanctions designations.
U.S and UK sanction Southeast Asian scam networks
The U.S. and UK have imposed coordinated sanctions on transnational crime networks behind Southeast Asia’s large-scale online scams and laundering of illicit funds.
Corruption
Most Filipinos see government corruption as widespread
A nationwide survey has revealed that most Filipinos believe corruption is widespread, with many viewing it as “normal” in politics.
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Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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