Top stories this week:
Canada Proposes Limits on Large Cash Transactions as part of Immigration and Security Bill | Four Men Jailed over £6 million NHS Scotland Corruption Scheme
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, Canada proposes limits on large cash transactions as part of a new immigration and security bill and the FCA publishes an updated Enforcement Guide.
In the fast-paced world of sanctions, the Israeli finance minister criticises banks over EU sanctions compliance and the U.S. imposes sanctions on four ICC judges.
In the corruption space, four men have been jailed over a £6 million NHS Scotland corruption scheme.
We round off this week’s roundup with the full replay of our latest webinar, “Transforming AML Training in Today’s Regulatory Environment.”
KYC & AML
Canada proposes limits on large cash transactions as part of immigration and security bill
A key provision of the newly introduced Strong Borders Act prohibits cash payments, donations or deposits of C$10,000 or more in a single transaction or series of related transactions by businesses and charities, with exceptions for banks, credit unions and trust companies.
UK Serious Fraud Office investigates Thurrock Council solar farm investments
The UK’s Serious Fraud Office (SFO) is investigating Thurrock Council’s £655 million solar farm investments via Rockfire Investment Finance.
AUSTRAC imposes restrictions on crypto ATM providers
Australia’s financial intelligence agency, AUSTRAC, has imposed a $5,000 AUD limit on transactions through crypto ATMs and refused to renew a provider’s registration due to compliance failures.
FCA publishes updated Enforcement Guide
The UK’s Financial Conduct Authority (FCA) has updated its Enforcement Guide, decisively retaining the ‘exceptional circumstances’ test for publicly naming firms under investigation.
BaFin utilises AI to detect market abuse
Germany’s financial regulator, BaFin, is utilising artificial intelligence (AI) in its market monitoring systems to help detect suspicious trading patterns and market abuse.
Flutter-owned PokerStars fined in Sweden for AML failures
Sweden’s gambling regulator has fined PokerStars operator TSG Interactive PLC, owned by Flutter Entertainment, SEK 7 million (£538,000) for failing to comply with AML regulations.
AUSTRAC orders audits for two Australian casinos over AML risks
AUSTRAC has ordered The Ville Resort-Casino in Townsville and Mindil Beach Casino Resort in Darwin to appoint external auditors to assess their compliance with AML/CTF.
Sanctions
Israeli finance minister criticises banks over EU sanctions compliance
Israeli Finance Minister Bezalel Smotrich has criticised domestic banks for halting services to settlers sanctioned by the European Union.
U.S. imposes sanctions on ICC judges
The U.S. government has imposed sanctions on four International Criminal Court (ICC) judges involved in probes of alleged war crimes by U.S. and Israeli personnel.
Corruption
Four men jailed over £6 million NHS Scotland corruption scheme
Four men have been sentenced to a total of 29 years in prison for a £6 million corruption and bribery scheme.
KYC360 News
Webinar Replay: Transforming AML Training in Today’s Regulatory Environment
Gain insights from two of the industry’s leading voices, Stephen Platt and Bill Howarth, into the future of AML training. Learn how organisations can move beyond tick-box training and instead engage and equip their staff to manage real-world financial crime risks.
Watch now:
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
KYC360 Weekly Roundup - 6 June 2025
KYC360 Weekly Roundup - 30th May 2025