AML

Edited from: Cowes High Street Nationwide branch by Arriva436, 2009, via Wikimedia Commons: https://commons.wikimedia.org/wiki/File:Cowes_High_Street_Nationwide_branch.JPG, licensed under CC BY-SA 3.0.

FCA Hits Nationwide with £44mn Fine for Failing to Flag Suspect Payments

Nationwide Building Society has been hit with a £44-million fine by the UK’s financial regulator over longstanding weaknesses in its systems to detect and prevent financial crime, including failures that allowed tens of millions of pounds in fraudulent Covid furlough payments to pass through a customer’s account.

U.S. Treasury Seeks ‘Gatekeeper’ Role Over AML Penalties

The Trump administration is moving to give the U.S. Treasury Department’s financial intelligence unit a decisive say over how banks are punished for anti–money-laundering (AML) failures, according to new reporting by The Wall Street Journal. 

Image credit: Adapted from “The Estadio Florencio Sola during a match between Banfield and Platense (2023)” by Vincenzo.togni, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:The_Estadio_Florencio_Sola_during_a_match_between_Banfield_and_Platense_(2023).jpg, licensed under Creative Commons Attribution 4.0 International (CC BY 4.0). Changes were made.

Argentine Police Raid Football Association and Dozens of Clubs in Dirty-Money Probe

Federal police raided the headquarters of the Argentine Football Association (AFA) and more than 30 soccer clubs as part of an investigation into alleged money laundering involving a key sponsor of the game, CNN said.

Image credit: Adapted from “César Duarte Jáquez.jpg” by Gobernadores Chihuahua, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:C%C3%A9sar_Duarte_J%C3%A1quez.jpg, licensed under Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA 4.0). Changes were made.

Mexico Ex-Governor Duarte Expected to Face Money Laundering Charges

Mexican federal authorities have taken former Chihuahua governor César Duarte back into custody, preparing to charge him with laundering public funds allegedly diverted while he was in office, according to the Associated Press.

Image credit: “2025 07 22 Foreign Secretary David Lammy at NCA, London, with DG Rob Jones (54671721188)” by Foreign, Commonwealth & Development Office, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:2025_07_22_Foreign_Secretary_David_Lammy_at_NCA,_London,_with_DG_Rob_Jones_(54671721188).jpg, licensed under Creative Commons Attribution 4.0 International (CC BY 4.0).

UK to Take on Illicit Finance with New AI Tools, Facilitator Crackdown

The UK government is taking aim at corrupt bankers, lawyers, and accountants and deploying new tech tools to identify dirty money as part of a new strategy to root out tens of billions in illicit funds entering the country each year.

mage credit: Adapted from “Western Union Money Transfer – a conduit for remittances” by Richard Allaway, via Flickr, https://www.flickr.com/photos/16287002@N00/6845522191, licensed under CC BY 2.0 (https://creativecommons.org/licenses/by/2.0/). Changes were made.

In U.S. Migrant Crackdown, a Renewed Focus on Cross-Border Remittances

The United States is tightening its oversight of the tens of billions of dollars resident and undocumented migrants send home each year through Western Union, MoneyGram, and other money services businesses (MSBs), according to a recent U.S. Treasury Department warning.  

Nigeria to Tighten Bank Cash Withdrawal Limits

Nigeria’s central bank has unveiled sweeping new cash withdrawal limits and related rule changes aimed at curbing cash dependence and reducing security and money-laundering risks, according to Reuters.