Top stories this week:
Trump Signs Executive Order Banning Alleged Debanking Practices | UK Companies House Confirms Mandatory Identity Verification Rollout
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, Trump signs an executive order banning alleged debanking practices, and the UK Companies House confirms the rollout of mandatory identity verification.
In the fast-paced world of sanctions, the U.S applies fresh sanctions against Iran.
In the corruption space, a Singapore tycoon pleads guilty in a corruption-linked case.
We round off this week’s roundup with our latest article on AI regulation developments in the EU.
KYC & AML
Trump signs executive order banning alleged debanking practices
U.S. President Donald Trump has signed an executive order banning “politicized or unlawful debanking,” instructing regulators to strip reputation risk from examination standards and review past bans.
UK Companies House confirms mandatory identity verification rollout
Companies House has confirmed that mandatory identity verification will begin on 18 November 2025. Directors, people with significant control and those filing on behalf of companies must verify their identities either directly with Companies House or via authorised agents.
Tornado Cash developer convicted on one count after jury deadlock
A federal jury convicted cryptocurrency mixer Tornado Cash co-founder Roman Storm on one count, conspiracy to operate an unlicensed money transmitting business, after deadlocking on two other counts. Jurors did not reach verdicts on alleged money laundering and violation of North Korea sanctions.
Solicitor struck off after £8.8m passed without checks
The Solicitors Disciplinary Tribunal has struck off a solicitor who moved about £8.8 million through client accounts without carrying out adequate source of funds/wealth checks.
FinCEN warns of rising crypto ATM scams
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Notice on convertible virtual currency (CVC) kiosks, warning of scams that exploit crypto ATMs and listing red flags for financial institutions and money services businesses.
Sanctions
U.S. applies fresh sanctions against Iran
The U.S. Treasury has announced sweeping sanctions against entities and vessels tied to Iran’s oil-shipping network, describing it as the largest Iran-related sanctions package since 2018.
Corruption
Singapore tycoon pleads guilty in corruption-linked case
Singaporean billionaire Ong Beng Seng pleaded guilty to a charge linked to a high-profile corruption scandal involving former transport minister S. Iswaran. Prosecutors said Ong helped cover up evidence during the investigation.
KYC360 News
AI Regulation in the EU: The New Act Forges Ahead
The EU AI Act is moving forward. Our latest article breaks down the key developments in AI regulation across the EU.
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
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