Top stories this week:
Mandatory Identity Verification for UK Company Directors Comes into Force | US Investigates Alleged $400m Fraud Linked to Bankim Brahmbhatt
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, mandatory identify verification for UK company directors comes into force, and the US investigates alleged $400m fraud linked to Bankim Brahmbhatt.
In the fast-paced world of sanctions, the U.S. applies sanctions against Mexican casinos, while the UK, US and Australia apply coordinated sanctions against Russian cybercrime networks.
In the corruption space, Philippine ministers resign over a flood-fund corruption scandal.
We round off this week’s roundup with a new article on how firms can ensure compliance with the latest sanctions against Russia.
KYC & AML
Mandatory identity verification for UK company directors comes into force
The UK government has rolled out mandatory identity verification for UK company directors and persons with significant control (PSCs). This change will be phased in over the next 12 months.
US investigates alleged $400m fraud linked to Bankim Brahmbhatt
The Financial Times reports that US authorities are examining telecoms firms tied to Indian entrepreneur Bankim Brahmbhatt after BlackRock’s HPS Investment Partners reported suspected fraud involving hundreds of millions of loans backed by fake receivables.
ICIJ “Coin Laundry” investigation highlights extensive crypto-linked criminal flows
The ICIJ’s “Coin Laundry” investigation alleges that major exchanges including Binance, OKX and others processed billions in illicit funds linked to drug cartels, human trafficking networks, ransomware operators and Russian cybercriminal groups.
Crypto ATM founder charged in alleged $10m laundering scheme
Firas Isa, the founder of a Chicago-based cryptocurrency company Crypto Dispensers, has been charged in connection with an alleged $10 million laundering scheme. Prosecutors allege the business was used to obscure proceeds of wire fraud and narcotics offences.
Sanctions
US applies sanctions against Mexican casinos
The US Treasury, in coordination with Mexico, has sanctioned the Hysa Group and several Mexican casinos for allegedly laundering drug proceeds.
UK, US and Australia apply coordinated sanctions against Russian cybercrime networks
The UK, US and Australia have jointly imposed sanctions on individuals and entities accused of enabling Russia-linked cybercrime.
Corruption
Philippine ministers resign over flood-fund corruption scandal
Two senior Philippine cabinet members have resigned following public protests over allegations that billions of pesos intended for flood-control projects were misused.
KYC360 News
Russian Oil Sanctions Update: What Compliance Teams Need to KnowThe US, UK, and EU have each tightened sanctions on Russia’s oil sector, introducing new measures targeting Rosneft, Lukoil, and their wider network of linked entities. Explore key updates and the essential checklist for maintaining effective sanctions compliance.
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
KYC360 Weekly Roundup - 21st November 2025
KYC360 Weekly Roundup - 14th November 2025