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Vietnam Parliament Proposes Stricter Oversight on Cryptocurrency to Mitigate Money Laundering

Vietnam Parliament Proposes Stricter Oversight on Cryptocurrency to Mitigate Money Laundering

Vietnam's National Assembly is discussing amendments to the Law on Prevention and Combat of Money Laundering, focusing on cryptocurrency assets. The proposed changes include the addition of 15 suspicious indicators related to crypto assets, aligning with FATF's Recommendation 15. These indicators aim to provide a legal framework for identifying and controlling money laundering risks associated with cryptocurrencies. The amendments also propose enhancing digital financial investigation capabilities and clearly defining the responsibilities of state agencies in managing these risks.
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Federal High Court in Lagos Sentences Four for $5.2 Million Money Laundering Scheme

Federal High Court in Lagos Sentences Four for $5.2 Million Money Laundering Scheme

The Federal High Court in Lagos has sentenced four individuals to prison for their involvement in a money laundering scheme totaling over $5.2 million. The individuals, Bamidele Emmanuel, Abdullah Yusuf, Funmilayo Garuba, and Gbenro Ademola, were convicted after pleading guilty to charges brought by the Economic and Financial Crimes Commission (EFCC). The charges were related to the use of personal information to register companies that received illicit funds. The EFCC's investigation revealed that the defendants sold their personal details to Afeez Animashaun, who used them to open corporate bank accounts that received the funds. The court sentenced the individuals to varying terms of imprisonment and community service, and ordered them to forfeit certain amounts to the Federal Government. The EFCC has been actively working to curb the use of shell companies for money laundering.
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Bank for International Settlements Emphasizes AI in Combating Financial Crime

Bank for International Settlements Emphasizes AI in Combating Financial Crime

Bank for International Settlements Emphasizes AI in Combating Financial Crime
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Vietnamese Lawmakers Call for Clear Distinction in Risk Management and Rights Restriction

Vietnamese Lawmakers Call for Clear Distinction in Risk Management and Rights Restriction

Vietnam's National Assembly is reviewing a draft law that aims to strengthen the country's legal framework against financial crimes, including money laundering and the financing of weapons of mass destruction. The discussions focus on clarifying the distinction between risk indicators and grounds for restricting rights. Lawmakers emphasize the need for precise definitions to ensure that state interventions are justified and do not infringe on legitimate activities. The draft law also includes provisions for freezing assets and delaying transactions as part of preventive measures.
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Bangladesh Banks Collaborate with International Firms to Recover Siphoned Assets

Bangladesh Banks Collaborate with International Firms to Recover Siphoned Assets

Banks in Bangladesh are taking steps to recover assets allegedly siphoned abroad by 42 companies identified as loan defaulters. These efforts involve partnerships with eight international legal and consulting firms under a 'no win, no fee' arrangement, meaning the firms will only be compensated if they successfully recover assets. The initiative, led by Bangladesh Bank, aims to trace and freeze assets held overseas, with the ultimate goal of using the proceeds to settle defaulted loans. This move follows investigations into several business groups and is part of a broader strategy to address financial irregularities and recover national assets.
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World Liberty Financial's $100M Investment Tied to Money Laundering Probe

World Liberty Financial's $100M Investment Tied to Money Laundering Probe

World Liberty Financial's $100M Investment Tied to Money Laundering Probe
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Financial Action Task Force Standards Prompt Legal Amendments in Sri Lanka

Financial Action Task Force Standards Prompt Legal Amendments in Sri Lanka

Sri Lanka's Anti-Corruption (Amendment) Bill, gazetted on July 24, 2026, has sparked significant debate due to its potential impact on transparency and public access to asset declarations. The bill introduces several controversial clauses, including one that criminalizes the public-interest use of redacted asset declarations, punishable by fines or imprisonment. Critics argue this infringes on the right to access information and freedom of expression. The bill is part of a broader legislative effort to align with Financial Action Task Force (FATF) standards, which also includes amendments to the Prevention of Money Laundering Act and the Suppression of Terrorist Financing Act. These changes have raised concerns about excessive scrutiny on civil society organizations while large-scale financial fraud remains underexamined.
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FBI Miami Arrests Two Men in $50 Million Money Laundering Scheme

FBI Miami Arrests Two Men in $50 Million Money Laundering Scheme

Two men, Santiago Orrego Gomez and Daniel Mauricio Gomez Garcia, have been extradited to Miami from Colombia to face charges related to a $50 million money laundering scheme. The arrests were made by the Colombian National Police and the men were handed over to the FBI in Medellin. This operation, named 'Operation Count It Up,' is part of an FBI Miami investigation into complex international money laundering activities. The scheme involved multiple states and utilized wired funds and ATM cash deposits to obscure the origins of money, which included proceeds from narcotics, cryptocurrency conversions, and elder fraud scams.
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LHV Bank Seeks Financial Crime Manager to Enhance Risk Assessment Framework

LHV Bank Seeks Financial Crime Manager to Enhance Risk Assessment Framework

LHV Bank Seeks Financial Crime Manager to Enhance Risk Assessment Framework
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US Imposes Sanctions on Dubai-Based Crypto Exchange for Alleged Iran Sanctions Evasion

US Imposes Sanctions on Dubai-Based Crypto Exchange for Alleged Iran Sanctions Evasion

The United States has imposed sanctions on Dubai-based cryptocurrency exchange Shelbit and its founder, Siavash Kayvanpour, for allegedly facilitating transactions for Iran's Islamic Revolutionary Guard Corps and other sanctioned entities. The US Treasury Department's action is part of a broader effort to crack down on sanctions evasion through cryptocurrency networks. Shelbit is accused of processing millions of dollars in digital assets for Iran's central bank and illegal gambling networks. The sanctions aim to dismantle illicit financial networks supporting the Iranian regime.
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Trump administration moves ahead with efforts to fire Federal Reserve governor Lisa Cook

Trump administration moves ahead with efforts to fire Federal Reserve governor Lisa Cook

The Trump administration is moving ahead with its efforts to fire Federal Reserve governor Lisa Cook, two months after the Supreme Court allowed her to retain her job while she fights the president’s effort to terminate her over mortgage fraud allegations that she has denied
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Former Goldman Sachs Banker Convicted for Bribery Scheme in Ghana

Former Goldman Sachs Banker Convicted for Bribery Scheme in Ghana

Former Goldman Sachs Banker Convicted for Bribery Scheme in Ghana