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UNODC Launches New Strategy to Combat Financial Crime with goAML Software

UNODC Launches New Strategy to Combat Financial Crime with goAML Software

The United Nations Office on Drugs and Crime (UNODC) has unveiled a new two-year strategy to enhance its goAML software, aimed at combating money laundering, terrorist financing, and organized crime. The strategy focuses on improving the usability, features, and governance mechanisms of the goAML platform, which has detected over $3 billion in suspicious transactions since its inception in 2007. The software is part of the goPortfolio, designed to help countries adhere to Financial Action Task Force (FATF) standards. The strategy includes initiatives like setting up Regional User Groups, piloting AI and Machine Learning, and integrating full graph analysis to better detect complex financial networks.
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Lagos Court Remands Four Individuals Over $5.29 Million Fraud Scheme

Lagos Court Remands Four Individuals Over $5.29 Million Fraud Scheme

A Lagos court has remanded four individuals in connection with a $5.29 million fraud scheme. The Economic and Financial Crimes Commission (EFCC) arraigned Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo, and Gbenro Victor Ademola before the Federal High Court in Ikoyi, Lagos. They face charges of money laundering under the Money Laundering (Prevention and Prohibition) Act, 2022. The defendants allegedly provided their personal information to Afeez Animashaun, who used their identities to incorporate companies and open corporate bank accounts. These accounts were reportedly used to receive millions of dollars in January 2025. The EFCC claims the defendants' actions facilitated the movement of suspicious funds through the Nigerian financial system. All four defendants pleaded guilty, and the court has adjourned the case for sentencing.
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West Africa Seeks Regional Fuel Pricing Benchmark Led by Nigeria

West Africa Seeks Regional Fuel Pricing Benchmark Led by Nigeria

West Africa Seeks Regional Fuel Pricing Benchmark Led by Nigeria
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Organized Crime Exploits Agriculture: The Rise of Narco Ranching

Organized Crime Exploits Agriculture: The Rise of Narco Ranching

The re-emergence of the New World screwworm in Mexico has exposed vulnerabilities in the livestock industry, highlighting the practice of 'narco ranching' by organized crime. Cartels are using cattle operations to launder money, traffic contraband, and undermine livestock traceability. This illegal activity poses significant risks to U.S. producers, including disease spread and food security concerns. The practice involves illegal cattle trafficking, land seizures, and environmental destruction through deforestation. Experts emphasize the need for greater awareness and stronger biosecurity measures to protect the agricultural sector from these threats.
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Louisiana Man Arrested for $2.5 Million Fraud Scheme Against Clay Mining Company

Louisiana Man Arrested for $2.5 Million Fraud Scheme Against Clay Mining Company

John B. Ohle III, a resident of Slidell, Louisiana, has been arrested by the Louisiana Bureau of Investigation for orchestrating a $2.5 million fraud scheme against a clay mining company. Ohle, a disbarred attorney and CPA, is accused of multiple felonies, including forgery, identity theft, and money laundering. The scheme involved diverting company revenues to his accounts, forging a trucking contract, and selling company equipment without authorization. The investigation began after the company filed a complaint, leading to Ohle's arrest on July 30. He allegedly used a subsidiary company to deceive clients and facilitate the fraud.
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FATF Plenary Outcomes Highlight Global Anti-Money Laundering Efforts

FATF Plenary Outcomes Highlight Global Anti-Money Laundering Efforts

The Financial Action Task Force (FATF) has released the outcomes of its June 2026 Plenary, emphasizing a continued international focus on strengthening anti-money laundering controls and addressing emerging financial crime risks. The Plenary resulted in Bosnia and Herzegovina and Iraq being added to the FATF's 'grey list' of jurisdictions under increased monitoring. Conversely, Algeria and Namibia were removed from this list after successfully completing their action plans. The FATF has also outlined key priorities for the upcoming UK Presidency, which include combating fraud, enhancing public/private information sharing, and improving risk-based supervision.
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FBI Investigates Dane Fine Art Gallery in Pennsylvania Amid Unspecified Concerns

FBI Investigates Dane Fine Art Gallery in Pennsylvania Amid Unspecified Concerns

The FBI is conducting an investigation at the Dane Fine Art gallery located in Ardmore, Pennsylvania. According to a spokesperson, the agents on site are involved in court-authorized law enforcement activities. The specific nature of the investigation has not been disclosed. Dane Fine Art is known for its extensive collection and sale of works by renowned artists such as Warhol, Roy Lichtenstein, Keith Haring, and Picasso. The gallery, which claims to be the largest wholesale fine art and print dealer globally since 1981, employs over 25 art professionals.
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DOJ and State Officials Announce Major Fraud Enforcement Efforts in Southeast

DOJ and State Officials Announce Major Fraud Enforcement Efforts in Southeast

The Department of Justice (DOJ) and state officials have announced significant fraud enforcement actions across South Carolina and the Southeast. During a press conference, DOJ Assistant Attorney General Colin MacDonald revealed that the National Fraud Enforcement Division has charged 12 individuals with fraud involving taxpayer-funded programs, resulting in over $90 million in losses. Notable cases include a $20 million food stamp scheme in Miami and a $1.5 million charter school embezzlement in Louisiana. The DOJ has signed data-sharing agreements with 10 state agencies to enhance fraud detection. South Carolina Governor Henry McMaster and Attorney General Alan Wilson praised the collaborative model, likening it to successful past operations. Other highlighted cases involve a $65 million green energy tax credit scam in Alabama and a $25 million COVID tax break scheme in North Carolina.
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FATF Urges Governments and Private Sector to Enhance Virtual Asset Regulation

FATF Urges Governments and Private Sector to Enhance Virtual Asset Regulation

The Financial Action Task Force (FATF) has released its seventh targeted update on the implementation of virtual asset standards, emphasizing the need for governments and the private sector to collaborate in developing operational infrastructure, legal frameworks, and protocols to rapidly trace, freeze, and seize illicit virtual assets. The update highlights the urgency of closing regulatory gaps and strengthening preventive measures. FATF President Giles Thomson stated that effective implementation of FATF standards can no longer be delayed, urging jurisdictions to work together to strengthen preventive measures and close regulatory gaps. The report also notes that while legislation is improving, enforcement remains a challenge, with many jurisdictions failing to take supervisory or enforcement action.
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Ex-Wife of Los Cuinis Leader Pleads Guilty to Violating U.S. Sanctions

Ex-Wife of Los Cuinis Leader Pleads Guilty to Violating U.S. Sanctions

Wendy Dalaithy Amaral Arevalo, the ex-wife and current partner of a leader of the Mexican drug trafficking organization Los Cuinis, has pleaded guilty to violating U.S. counternarcotic sanctions. Los Cuinis is closely linked to the Jalisco New Generation Cartel (CJNG), which was designated as a foreign terrorist organization by the U.S. Department of State in February 2025. Amaral Arevalo was sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) in 2015 for her involvement in international narcotics trafficking activities. Despite these sanctions, she engaged in financial transactions with IMG Academy in Florida, paying over $500,000 in tuition for her child. Her ex-husband, Gerardo Gonzalez Valencia, was sentenced to life in prison in 2023 for cocaine distribution. Amaral Arevalo faces up to 10 years in prison and a $10 million fine, with sentencing scheduled for December 2, 2026.
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Nigeria says subsidy savings absorbed by debt costs, higher spending

Nigeria says subsidy savings absorbed by debt costs, higher spending

By Camillus Eboh ABUJA, July 30 (Reuters) - Nigeria's finance minister said on Thursday that savings from the removal of fuel subsidies and foreign-exchange market reforms had largely been absorbed by higher debt-servicing costs and increased government spending, as officials sought to defend
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CBD Company Executives Sentenced for Fraudulent Loan Use in Property Purchase

CBD Company Executives Sentenced for Fraudulent Loan Use in Property Purchase

CBD Company Executives Sentenced for Fraudulent Loan Use in Property Purchase