Top stories this week:
ProgressPlay Fined £1m over AML and Safer Gambling Breaches | ING Belgium Probed for Possible Role in Reynders Money Laundering Case
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, ProgressPlay has been fined £1m over AML and safer gambling breaches, and ING Belgium is probed for its possible role in the Reynders money laundering case.
In the fast-paced world of sanctions, Brazilian banks are warned not to enforce U.S. sanctions without a court order, and the EU prepares its 19th sanctions package against Russia.
In the corruption space, an Istanbul district mayor is among dozens held in a Turkey corruption probe.
We round off this week’s roundup with the full replay of our latest webinar, “The Impact of US AML Whistleblowing Legislation on Non-US Businesses.”
KYC & AML
ProgressPlay fined £1m over AML and safer gambling breaches
The UK Gambling Commission has fined gambling operator ProgressPlay £1 million after finding deficiencies in its AML and social responsibility controls. Failures included a lack of a risk-based approach to AML and inadequate monitoring of customer activity.
Financial trade groups urge rethink on crypto rules for banks
International banking associations have asked the Basel Committee on Banking Supervision to revise the upcoming Cryptoasset Exposures Standard, arguing that it is overly restrictive and risks stifling innovation.
ING Belgium probed for possible role in Reynders money laundering case
Brussels prosecutors have opened an investigation into ING Belgium’s possible role in money laundering involving former EU Commissioner Didier Reynders, which involved him allegedly depositing €700,000 in cash into his ING account.
Switzerland considers joining UK-led dirty money task force
British Foreign Secretary David Lammy has welcomed Switzerland’s interest in joining the UK-led international “dirty money” task force.
Uruguay launches national AML framework
Uruguay has announced a new national strategy to combat money laundering and terrorist financing. The government seeks to achieve results in enforcement and prevention.
Sanctions
Brazilian banks warned not to enforce U.S. sanctions without court order
Brazil’s Supreme Court Justice Alexandre de Moraes, who was recently sanctioned by the U.S., has warned domestic banks not to enforce U.S. sanctions measures unilaterally unless they are validated by Brazilian courts.
EU prepares 19th sanctions package against Russia
The European Union is finalising its 19th package of sanctions against Russia, expected in early September.
Corruption
Istanbul district mayor among dozens held in Turkey corruption probe
Turkish authorities have detained Beyoğlu district mayor İnan Güney and around 40 others as part of a corruption investigation in Istanbul.
KYC360 News
Webinar Replay: The Impact of US AML Whistleblowing Legislation on Non-US Businesses
Hear from Stephen Platt, CEO and Founder of KYC360, and Stephen Kohn, Partner at Kohn, Kohn & Colapinto LLP, in an exclusive replay of their session at the KYC360 Conference, where they share expert insights into the evolution of U.S. whistleblower legislation.
You'll learn:
-Why the US revolutionised whistleblower laws beyond recognition
-Why white collar crimes violate trust, lower social morale and produce social disorganisation
-The story behind the Danske Bank scandal and the whistleblower who uncovered it
-How whistleblowers exposed the Binance crypto scandal
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
KYC360 Weekly Roundup - 22nd August 2025
KYC360 Weekly Roundup - 15th August 2025