Top stories this week:
Bank of Italy Orders DeA Capital to Replace its CEO and Board Over AML Failures | FATF Flags Gaps in Austria’s AML Enforcement
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 Bank of Italy has ordered DeA Capital to replace its CEO and board over AML failures, while the FATF has flagged gaps in Austria’s AML enforcement.
In the fast-paced world of sanctions, the EU considers imposing sanctions over stolen Ukrainian grain docked in Israel.
In the corruption space, Albania has put its former president on trial for corruption, and a Ukrainian watchdog has called for the suspension of security chief Umerov.
We round off this week’s roundup with the full replay of our latest webinar, “Uncovering UBO: How to Navigate Global Regulations and Complex Structures.”
KYC & AML
Bank of Italy orders DeA Capital to replace its CEO and board over AML failures
Italy’s central bank has directed DeA Capital Real Estate SGR to convene a shareholders’ meeting to replace the majority of its board and its chief executive, following December 2025 inspections that identified internal AML controls.
FATF flags gaps in Austria’s AML enforcement
The Financial Action Task Force’s mutual evaluation of Austria found that the investigation and prosecution of money laundering falls short. The watchdog cited insufficient resources at Austria’s Financial Intelligence Unit and concluded that sanctions imposed for money laundering are not an effective deterrent.
Swiss court drops money laundering charges against Gulnara Karimova
Switzerland’s Federal Criminal Court has dropped charges against Gulnara Karimova, the daughter of Uzbekistan’s long-ruling former president Islam Karimov, after Uzbek authorities refused to allow her to leave the country to stand trial. Karimova is accused of taking bribes from telecoms companies and running a criminal network known as “The Office,” which allegedly channelled hundreds of millions of dollars into Swiss accounts between 2005 and 2013. The case against Lombard Odier and a former asset manager at the bank will continue.
Europol arrests Black Axe leaders
Swiss authorities, supported by Europol and German police, arrested 10 suspected members of the Black Axe network, including the group’s Regional Head for Southern Europe. Those detained are accused of romance scams, cyber fraud causing millions of Swiss francs in losses, and money laundering.
Sanctions
EU considers sanctions over stolen Ukrainian grain docked in Israel
The European Commission is considering sanctioning those involved in the trade of grain stolen by Russia from occupied Ukrainian territory, after a shadow fleet vessel reportedly carrying over 25,000 tonnes of wheat and barley docked at Haifa.
Corruption
Albania puts former president on trial for corruption
The trial of former Albanian president Ilir Meta has opened at the country’s Special Court , with Meta and four co-defendants charged with passive corruption, money laundering, and false declaration of assets. Meta, in pre-trial detention since October 2024, denies the charges and says the prosecution is politically motivated.
Ukrainian watchdog calls for suspension of security chief Umerov
Ukraine’s Defense Ministry anti-corruption council has called for the suspension of Rustem Umerov, secretary of the National Security and Defense Council, after transcripts emerged allegedly showing him being lobbied by Timur Mindich, a close Zelensky associate charged in Ukraine’s largest ongoing corruption case, on behalf of drone manufacturer Fire Point.
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KYC360 News
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