Top stories this week:
AMLA Begins Data Collection to Test Risk Assessment Models | Cayman Islands Opts to Keep Beneficial Ownership Register Restricted
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, AMLA begins a data collection exercise to test risk assessment models, while the Cayman Islands opts to keep its beneficial ownership register restricted.
In the fast-paced world of sanctions, the EU renews individual sanctions linked to Russia for another six months.
In the corruption space, a UK parliamentary committee calls for a ban on crypto political donations.
We round off this week’s roundup with our latest recognition from Celent.
KYC & AML
Canada revokes registrations of 23 crypto-linked MSBs
Canada’s financial intelligence unit, FINTRAC, has revoked the registrations of 23 cryptocurrency money services businesses (MSBs) due to regulatory failures.
Cayman Islands opts to keep beneficial ownership register restricted
The Cayman Islands has confirmed its beneficial ownership register will remain restricted to those with a “legitimate interest,” defying UK pressure for full public disclosure.
FCA bans former CFD firm CEO for compliance failures
The UK’s Financial Conduct Authority (FCA) has permanently banned Kasim Garipoglu from working in UK financial services for undermining regulatory requirements and encouraging serious misconduct amongst his colleagues.
AMLA begins data collection to test risk assessment models
Europe's Anti-Money Laundering Authority (AMLA) has launched a data collection exercise to test the risk models it will use to select up to 40 institutions for direct EU supervision from 2028. Sampled firms must submit data by 22 April 2026.
Halkbank settles Iran sanctions case without admitting wrongdoing
Halkbank has settled US charges that it helped move approximately $20 billion through a network designed to evade Iran sanctions. The Turkish state-owned bank will pay no fines and admits no criminal wrongdoing. It has hired EY to conduct a mandated review into its compliance.
Sanctions
EU renews individual sanctions linked to Russia for another six months
The EU has extended individual listings, in response to Russia’s ongoing military action in Ukraine, covering around 2,600 individuals and entities until 15 September 2026.
Corruption
UK parliamentary committee calls for ban on crypto political donations
A cross-party parliamentary committee has called for an immediate ban on cryptocurrency donations to political parties, warning that tools like mixers, privacy coins, and chain-hopping make it difficult to verify where funds originate.
KYC360 News
KYC360 Recognised for Standout Functionality in Celent’s 2026 KYC Systems Report
Celent’s 2026 KYC Systems report recognises KYC360 as a Functionality Standout, highlighting our real-time risk scoring capabilities, configurable risk models, and unified data platform. This recognition reflects our commitment to delivering innovative solutions across Screening, Onboarding and CLM, 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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