Top stories this week:
FCA Proposes Updates to Its Financial Crime Guide | Star Entertainment Ordered to Pay A$260m for AML/CTF Failures
Welcome to this week's edition of the KYC Roundup, your gateway to the most impactful developments in the world of Anti-Money Laundering and financial crime. In the AML arena, the FCA is consulting on updates to its Financial Crime Guide, while Australia’s Federal Court has ordered Star Entertainment to pay A$260 million for AML/CTF breaches.
In the fast-paced world of sanctions, the UK has sanctioned 15 Sudanese commanders over suspected atrocities in El Fasher, while the US has targeted facilitators of North Korean IT-worker schemes.
In the corruption space, the EPPO has indicted six defendants over alleged fraud in the purchase of EU-funded tugboats in Romania.
We round off this week’s roundup with details of KYC360’s recognition as a noteworthy solution in the Celent KYC orchestration report.
KYC & AML
FCA Proposes Updates to Its Financial Crime Guide
The FCA has opened a consultation on proposed updates to its Financial Crime Guide, covering fraud, cryptoassets, financial and trade sanctions, proliferation financing, data security, financial crime systems and controls, and money laundering and terrorist financing.
FCA Limits Six Unregulated Lenders After AML Control Concerns
The FCA placed restrictions on six unregulated Annex 1 lenders after raising concerns about their AML policies, controls and procedures while assessing their applications. Imposed at the firms’ request, the restrictions limit new customers and new business with existing customers, including credit extensions.
Star Entertainment Ordered to Pay A$260m for AML/CTF Failures
Australia’s Federal Court has ordered casino operator Star Entertainment to pay a penalty of A$260 million after finding that it failed to maintain a compliant AML/CTF programme and monitor customers’ money-laundering and terrorism-financing risks. The court identified failures in due diligence, source-of-funds checks and monitoring of high-risk customers.
CPS Obtains Unexplained Wealth Order Linked to £50m in Assets
The Crown Prosecution Service has secured an unexplained wealth order and interim property freezing order against two British nationals and associated companies, freezing assets worth approximately £50 million. The order gives them three months to prove that the money used to buy the properties was lawfully obtained or risk permanent seizure.
Sanctions
UK Sanctions 15 Sudanese Commanders Over Suspected Atrocities
The UK has sanctioned 15 commanders from Sudan’s Rapid Support Forces and Sudanese Armed Forces for suspected atrocities during the fall of El Fasher.
US Sanctions Facilitators of North Korean IT-Worker Schemes
The US Treasury’s Office of Foreign Assets Control has designated 10 individuals and one entity for roles in North Korean government-run IT-worker schemes that the Treasury says defrauded US businesses and generated revenue for the country’s weapons programmes.
Corruption
Romanian Officials Among Six Indicted Over €7m Tugboat Procurement
The EPPO has indicted four public officials, an individual and a company in Romania over alleged fraud in the purchase of two EU-funded tugboats worth approximately €7 million. The indictment says tender requirements favoured one company and that officials accepted vessels that did not meet contract specifications.
KYC360/Experian News
KYC360 Recognised as a Noteworthy Solution in Celent KYC Report
We’re pleased to share that KYC360 has been recognised by Celent as a Noteworthy Solution in its 2026 KYC Orchestration Platforms report. Celent highlighted the platform’s capabilities in automating complex entity onboarding and end-to-end CLM functionality.
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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