Top stories this week:
U.S. Blacklists Three Mexican Banks Over Cartel Links | Global AML/KYC Technology Spend Projected to Reach $2.9bn
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, the U.S. blacklists three Mexican banks over cartel links, while a new report shows global AML/KYC technology is set to reach $2.9bn.
In the fast-paced world of sanctions, the EU considers a new package of sanctions against Russia.
In the corruption space, U.S. President Trump demands the cancellation of Netanyahu’s corruption trial.
We round off this week’s roundup with the opportunity to register for our latest webinar, “Key Lessons from the Cayman FATF Delisting Journey.”
KYC & AML
U.S. blacklists three Mexican banks over cartel links
The U.S. Treasury has banned certain transactions with Mexico’s CIBanco, Intercam Banco and Vector Casa de Bolsa under the Fentanyl Sanctions Act.
SocGen offices searched in fraud investigation
French prosecutors have raided Societe Generale offices in Paris and Luxembourg, plus four executive homes, in a probe into alleged organised tax fraud dating to 2009.
Global AML/KYC technology spend projected to reach $2.9bn
A report from Burton Taylor Consulting states that global investment in AML and KYC technology is expected to grow 12.3% to reach $2.9 billion by 2025.
AML rules reform planned for UK law firms
UK government officials have recognised that existing AML regulations may impose a burden, and have revealed plans to introduce reforms aimed at streamlining compliance without diluting protections.
MONEYVAL acknowledges North Macedonia’s AML progress
MONEYVAL, the Council of Europe’s AML evaluator, has acknowledged significant enhancements in North Macedonia’s legal framework to combat money laundering and terrorist financing. However, it remains under MONEYVAL’S enhanced follow-up procedure.
Ex-analyst found guilty of insider dealing
A former Janus Henderson analyst and his sister have been convicted in the UK for making around £1m from insider trading.
Malaysia drops 1MDB money laundering charges against former Prime Minister
Malaysian authorities have dropped money laundering charges against former Prime Minister Najib Razak connected to the 1MDB scandal.
Sanctions
EU considers new package of sanctions against Russia
European leaders have met in Brussels to discuss the 18th package of sanctions against Russia, however there are fracture lines between the EU and U.S. on a potential oil price cap.
Corruption
U.S. President Trump demands cancellation of Netanyahu’s corruption trial
U.S. President Donald Trump called for the U.S. to intervene and stop Israeli Prime Minister Netanyahu’s corruption trial, labelling it a “witch-hunt.”
KYC360 News
Webinar: Key Lessons from the Cayman FATF Delisting Journey
Join Stephen Platt, Founder and CEO at KYC360, and Elisabeth Lees, Head of Regulatory Law at Claritas, for an inside look into the Cayman Islands’ FATF grey listing and delisting journey.
📅Date: 30th June
🕒Time: 3:00pm UK Time/BST
- What FATF evaluators look for and how to evidence effectiveness
- The critical role of political commitment in national remediation efforts
- How a strong AML regime drives long-term resilience and investment
- Lessons other jurisdictions can apply from Cayman’s experience
- How FATF expectations are evolving ahead of the fifth round
Save your seat:
Your latest weekly update from the worlds of money laundering, legislation and regulation, sustainability, gaming and gambling, crypto and sanctions.
KYC360 Weekly Roundup - 27th June 2025
KYC360 Weekly Roundup - 20th June 2025