Top stories this week:
Wolfsberg Group Reaffirms Risk-Based Approach | GENIUS Act Becomes Law in the U.S.
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 Wolfsberg group reaffirms its commitment to a risk-based approach, and the GENIUS act becomes law in the U.S.
In the fast-paced world of sanctions, the UK imposes sanctions on people smuggling gangs.
In the corruption space, Ukrainians protest a bill that threatens an anti-corruption body.
We round off this week’s roundup with our latest customer story on how ADS Securities streamlines their screening processes with the RiskScreen Salesforce app.
KYC & AML
Wolfsberg group reaffirms risk-based approach
The Wolfsberg Group of 12 global banks has issued new guidance reaffirming its commitment to the risk-based approach (RBA). The July statement pledges updates to its 2006 RBA framework and 2015 risk assessment FAQs, emphasising proportionality, prioritisation, and outcome-focused decisions.
GENIUS act becomes law in the U.S.
The GENUIS act has been signed into law and establishes the first federal U.S. regulatory framework for stablecoins.
Andorran bankers jailed over €70m laundering scheme
A court in Andorra has sentenced 18 executives of Banca Privada d’Andorra (BPA) to prison for laundering approximately €70 million.
FCA seizes crypto ATMs in London enforcement raid
UK authorities, supported by the FCA and local police, conducted a targeted operation in London that seized seven crypto ATMs on suspicion of money laundering and arrested two individuals.
Sanctions
UK imposes sanctions on people-smuggling gangs
The UK has imposed targeted sanctions against individuals linked to organised small boat people-smuggling operations.
Corruption
Ukrainians protest bill threatening anti-corruption body
Mass protests erupted across Ukraine following parliamentary approval of a bill perceived to undermine the country’s independent anti-corruption agency.
KYC360 News
How ADS Securities Transformed Screening with the RiskScreen Salesforce App
ADS Securities (ADSS), a leading financial services firm based in the UAE, uses the RiskScreen Salesforce app powered by KYC360 technology to transform its client screening process.
Real-time checks run directly in Salesforce, with automatic case creation, in-platform match reviews and clear, auditable results. ADSS leverages Dow Jones data and has embedded the solution into its client approval workflow, driving operational efficiency.
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
KYC360 Weekly Roundup - 25th July 2025
KYC360 Weekly Roundup - 18th July 2025