Top stories this week:
US Executive Order Flags Immigration Status as Financial Crime Risk Factor | UK Launches Unit to Tackle £1Bn High Street Money Laundering
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, a US executive order flags immigration status as a financial crime risk factor, while the UK launches a unit to tackle high street money laundering.
In the fast-paced world of sanctions, the UK eases some Russian oil restrictions.
In the corruption space, Nigeria arrests an ex-power minister.
We round off this week’s roundup with the opportunity to register for our latest webinar, “The Future of Customer Due Diligence.”
KYC & AML
US executive order flags immigration status as financial crime risk factor
A White House executive order signed 19 May 2026 directs the US Treasury to issue guidance within 60 days setting out red flags tied to immigration and work authorisation status, including ITIN use where lawful status is unverified, foreign consular IDs, and payroll-linked structuring.
UK launches unit to tackle £1bn high street money laundering
The Home Office has announced a High Street Organised Crime Unit, backed by £30 million over three years, targeting barber shops, vape stores and mini-marts that the NCA estimates launder around £1 billion annually.
Ireland probes suspicious Polymarket bets on Dublin by-election
Irish regulators and government departments are examining “suspicious bets” placed on the Polymarket platform on the Dublin Central by‑election, including large wagers linked to former Kinahan cartel associate Gerry Hutch, amid concerns the activity could potentially be connected to money laundering. There is no suggestion of wrongdoing by any candidate.
Spain charges former PM Zapatero with money laundering
Spain's National Court has placed former Prime Minister José Luis Rodríguez Zapatero under investigation for money laundering and influence peddling linked to the €53 million 2021 state bailout of Venezuela-linked airline Plus Ultra.
Sanctions
UK issues indefinite licence easing some Russian oil restrictions
The UK has issued a general trade licence permitting indefinite imports of diesel and jet fuel refined from Russian crude in third countries, citing supply pressures from the closure of the Strait of Hormuz following the US-Israel war with Iran.
US sanctions Iranian exchange house and 19-vessel shadow fleet
OFAC has sanctioned Amin Exchange and over 50 associated companies, individuals and vessels, targeting a network of front companies across the UAE, Turkey and Hong Kong used to move hundreds of millions of dollars for sanctioned Iranian banks.
Corruption
Nigeria arrests ex-power minister after 75-year fraud sentence
Nigeria’s anti-corruption agency has arrested former power minister Saleh Mamman days after he was sentenced in absentia to 75 years for fraud and money laundering tied to ₦33.8 billion ($24.7m) diverted from major hydropower projects. He was detained in Kaduna State, along with two individuals accused of sheltering him.
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KYC360 News
Webinar: The Future of Customer Due Diligence
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Date: 9th June 2026
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