Top stories this week:
FINRA Fines Cetera $1.1m for AML Gaps | AUSTRAC Orders External Audit of Airwallex
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, FINRA fines Cetera $1.1m for AML gaps, and AUSTRAC orders an external audit of Airwallex.
In the fast-paced world of sanctions, the US applies sanctions against an alleged Hamas-linked support network.
In the corruption space, Ukrainian opposition have moved to terminate a parliamentary corruption panel.
We round off this week’s roundup with our latest article, “How to Deliver Fast Onboarding with Networked KYC.”
KYC & AML
FINRA fines Cetera $1.1m for AML gaps
FINRA has fined three subsidiaries, Cetera Advisors, Cetera Wealth Services, and Cetera Investment Services $1.1 million for weaknesses in its AML controls. Cetera failed to implement policies that could sufficiently detect and drive reporting of suspicious transactions between March 2019 and August 2021.
AUSTRAC orders external audit of Airwallex
AUSTRAC has ordered payments platform, Airwallex, to appoint an external auditor after raising concerns about potential AML/CTF non-compliance. The regulator said it is concerned the firm’s transaction monitoring may not be calibrated to the full risk picture of a cross-border payments platform.
UK launches “Report Fraud” service
The City of London Police has launched Report Fraud, a national service intended to modernise how individuals and businesses report fraud and cyber crime across the UK.
Georgian ex-PM jailed for 5 years after pleading guilty to money laundering
Former Georgian Prime Minister Irakli Garibashvili will serve a five-year prison sentence after he pleaded guilty to large-scale money laundering.
Sanctions
US applies sanctions against alleged Hamas-linked support network
The US has designated six Gaza-based organisations it says were presented as independent charities but were integrated into, or acted on behalf of, Hamas’s military wing, as well as the Popular Conference for Palestinians Abroad.
Corruption
Ukraine opposition moves to terminate parliamentary corruption panel
Ukraine’s European Solidarity faction has drafted a resolution to terminate a parliamentary commission created in June 2025 to probe corruption across parts of the justice and security system. The party claims the commission has become a tool for political pressure against independent anti-corruption institutions.
KYC360 News
Article: How to Deliver Fast Onboarding with Networked KYC
Digital onboarding can slow down when clients move between advisers, TCSPs, and banks. Siloed systems, manual checks, and repeated KYC requests create friction. In our latest blog, we explore how Networked KYC can remove duplication at the source and enable faster, more efficient onboarding across multiple service providers.
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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