Top stories this week:
Prosecutors Seek Record €880M AML Fine Against Nordea | Wise Faces Belgian AML Probe over €500M in Suspicious Transactions
In the fast-paced world of sanctions, the US has sanctioned Nobitex and three other Iranian crypto exchanges, while Russia has sanctioned a British teenager over a crypto laundering report.
In the corruption space, Indonesia has widened its corruption crackdown with the arrests of a deputy minister and a former free-meals chief.
We round off this week’s roundup with an invitation to join our latest webinar, “The Future of Customer Due Diligence”, hosted by Shilo Grayson, Regulatory Strategy Specialist at KYC360, and Rob Cutler, Chief Growth Officer at Nexus AML.
KYC & AML
Prosecutors seek record €880m AML fine against Nordea
Danish prosecutors have asked the Copenhagen City Court to impose a 6.6 billion DKK (€880 million) penalty on Nordea over alleged anti-money laundering failures between 2012 and 2015, in a case tied to more than €3.5 billion in suspicious transactions.
Wise faces Belgian AML probe over €500m in suspicious transactions
Belgian prosecutors are investigating Wise Europe over suspected AML control failures linked to around €500 million in suspicious transactions spanning more than 30 European countries. Wise said it is cooperating with the Brussels prosecutor’s office and that no specific findings have been shared with the company to date.
UK raises pressure on Crown Dependencies and Overseas Territories over ownership transparency
The UK has stepped up pressure on Crown Dependencies and Overseas Territories to widen access to beneficial ownership information, with Baroness Margaret Hodge warning that the government may consider legislation or other leverage if progress remains too slow.
FINMA warns Swiss banks of AML risk analysis weaknesses
Swiss financial institutions have improved their AML frameworks, but FINMA said further work is needed after reviewing the risk analyses of more than 30 banks and numerous other institutions since issuing guidance in 2023. The financial watchdog said weaknesses persist in how some firms assess risks linked to politically exposed persons, complex corporate structures and crypto services.
Hungary seizes £223m in central bank foundation money laundering probe
Hungarian prosecutors and police have seized around 92 billion forints (£223 million), in funds and securities as part of a money-laundering investigation into foundations set up by the National Bank of Hungary, following concerns over opaque investment structures and possible mismanagement of public assets.
Sanctions
Russia sanctions British teenager over crypto laundering report
Russia has sanctioned Alexander Browder, a 17-year-old British student, and barred him from entering the country after accusing him of spreading false information, following his research into Kremlin-linked crypto laundering networks. The move followed Browder’s work for the Henry Jackson Society on the A7A5 stablecoin network and alleged sanctions evasion tied to Russia’s war economy.
US sanctions Nobitex and three other Iranian crypto exchanges
The US Treasury has sanctioned Nobitex, Wallex, Bitpin and Ramzinex in what officials described as the most sweeping action yet against Iran’s digital-asset sector, targeting platforms accused of supporting sanctions evasion, terror finance and regime-linked transactions.
Corruption
Indonesia widens corruption crackdown with arrests of deputy minister and free-meals chief
Authorities have moved against two senior officials in separate cases, detaining Deputy Immigration and Corrections Minister Silmy Karim over alleged corruption in immigration and residency permits and former nutrition agency chief Dadan Hindayana over alleged corruption linked to President Prabowo Subianto’s flagship free-meals programme.
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KYC360 News
Webinar: The Future of Customer Due Diligence
Join Shilo Grayson, Regulatory Strategy Specialist at KYC360, and Rob Cutler, Chief Growth Officer at Nexus AML, drawing on his extensive experience as an MLRO and Head of Financial Crime, for a data-led session on the true cost of manual onboarding and how automation is changing the picture for compliance teams across financial services.
Date: 9th June 2026
Time: 3:00pm - 4:00pm (UK Time)
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
KYC360 Weekly Roundup - 5th June 2026
KYC360 Weekly Roundup - 29th May 2026