Top stories this week:
FATF Sets Principles for Disrupting Scam-Compound Proceeds | Block Discloses Proposed Three-Year US AML Deferred Prosecution Agreement
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, FATF has published principles to disrupt scam-compound proceeds, while Block has reached an agreement in principle on a proposed three-year US deferred prosecution agreement over alleged AML failures.
In the fast-paced world of sanctions, US authorities have targeted networks supporting Iran’s shadow fleet, aviation sector and arms procurement.
In the corruption space, Ukraine agencies have exposed a network alleged to have provided illicit benefits to law-enforcement officials.
We round off this week’s roundup with the opportunity to register for our upcoming webinar.
KYC & AML
FATF Sets Principles for Disrupting Scam-Compound Proceeds
The Financial Action Task Force has published a report and principles on financial flows linked to scam compounds, identifying virtual assets as a central laundering channel alongside payment services and money-mule accounts. Its principles call for cross-border co-operation to disrupt networks and stop, trace, freeze and recover proceeds.
Block Discloses Proposed Three-Year US AML Deferred Prosecution Agreement
Block says it has reached an agreement in principle with the US Department of Justice on a three-year deferred prosecution agreement over an alleged failure to maintain an effective AML programme under the Bank Secrecy Act. The proposed agreement would require Block to pay about $764m after credits for earlier regulatory resolutions. It remains subject to a final agreement and court approval.
Venezuelan National Sentenced in Money Laundering Case Involving More Than $1bn
Jorge Figueira, a Venezuelan national, has received a 12-year US prison sentence for conspiracy to launder money. The Department of Justice said more than $1bn moved through identified wallets and financial accounts, with the network using bank accounts, cryptocurrency services and shell companies.
FBI Links $6bn Binance Theft to North Korea and Warns of Laundering
The FBI attributed the theft of more than $6bn in virtual assets from Binance to North Korea, saying the stolen assets were being converted mainly into Ether and were expected to be moved through DeFi and instant-swap services. It urged virtual-asset service providers to block transactions involving addresses linked to the theft.
FCA to Explore Quantum Machine Learning for Financial Crime Detection
The FCA plans to launch a Quantum Experimentation Group in the first quarter of 2027, using a synthetic dataset to explore whether quantum machine learning could help detect money laundering and fraud.
Sanctions
US Targets Networks Supporting Iran’s Shadow Fleet, Aviation Sector and Arms Procurement
The US Treasury has sanctioned an India-based network accused of providing false flags and maritime certifications for vessels carrying Iranian petroleum, as well as a Türkiye-based aviation-services company accused of supporting Iran’s aviation sector. Separately, the State Department designated two people and one entity over alleged efforts to help Iran procure man-portable air-defence systems.
Corruption
Ukraine Agencies Expose Alleged Network Protecting Fraudulent Call Centres
Ukraine’s NABU and SAPO have exposed a criminal organisation alleged to have provided illicit benefits to senior officials in the Security Service, the Office of the Prosecutor General and the National Police in exchange for protection for fraudulent call centres and other illegal businesses. Investigators said at least 12 people had been implicated.
KYC360/Experian News
Webinar: Financial Crime Compliance
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📅 Wednesday 18 November 2026
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Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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