Illicit Finance – Page 13

FinCEN to Delete Ownership Info on U.S. Companies from CTA Registry

FinCEN Files investigation revealed how U.S. banks helped move illicit money worldwide, U.S. authorities are rolling back key reforms enacted in its aftermath, sparking alarm among transparency advocates.

Khamenei.ir. (2025, March 19). Nowruz message on the occasion of the beginning of the year 1404. Wikimedia Commons. Licensed under CC BY 4.0

OFAC Takes Aim at Financial Facilitators Aiding Iran’s Military

OFAC sanctioned two Iranian financial facilitators and more than a dozen individuals and entities based in Hong Kong and the United Arab Emirates for moving funds that allegedly benefited Iran’s military.

Tether to Launch New Stablecoin for U.S. Market

Tether, the issuer of the world’s largest stablecoin USDT, announced plans to launch a new U.S.-based stablecoin called USAT.

Juansher Burchuladze at a bilateral exchange at the Pentagon, Washington, D.C., February 9, 2023 (cropped, edited). Photo by U.S. Department of Defense / DVIDS. Licensed under Creative Commons BY 4.0. Source: Wikimedia Commons

Georgia’s Ex-Defense Minister Detained for Money Laundering, Abuse of Office

Georgia’s ex‑Defense Minister Juansher Burchuladze has been arrested on charges of money laundering and abuse of power, OCCRP said.

Day 1: Home Secretary Yvette Cooper at Home Office (Photo by UK Home Office, 2024) [Photograph]. Licensed under CC BY 2.0. Wikimedia Commons. Source: Wikimedia Commons

UK Sanctions Target Russia’s Shadow Fleet and Weapons Programs

The United Kingdom imposed a new package of 100 sanctions aimed at curbing Russia’s ability to finance and sustain its war against Ukraine.

Citing Competition, Swiss Lawmakers Push Back on Proposed AML Law

Swiss lawmakers are seeking to dilute key government proposals aimed at combating financial crime, arguing that stricter regulations threaten the country’s dominance in the global wealth management sector, according to Reuters.

John Thune. Photo by the U.S. Senate, taken in 2024. Licensed under CC BY 2.0. Source: Wikimedia Commons

GOP Senators Signal Greater Support for New Russia Sanctions

Republican lawmakers are intensifying calls for President Donald Trump to impose sweeping sanctions on Moscow following the recent incursion of Russian drones into Polish airspace.

Ministry of Foreign Affairs of the Russian Federation, Xi Jinping and Vladimir Putin walking at Zhongnanhai (2025), 21 May 2025. Licensed under CC BY 4.0. Source: Wikimedia Commons.

EU Weighs Sanctions on Chinese Refineries Linked to Russia

The European Commission is preparing to target several independent Chinese refineries in its forthcoming sanctions package against Russia, Reuters reported, citing unnamed EU officials.

J o. Photograph of the SMBC Kobe Office Building. 20 Nov. 2009. Wikimedia Commons, CC BY‑SA 3.0. Edited version.

Fed Terminates AML Order against SMBC

The Federal Reserve terminated a 2019 enforcement action against Sumitomo Mitsui Banking Corp. (SMBC), concluding a six-year period of heightened scrutiny over the institution’s anti-money laundering (AML) practices.

Case, D. (2015, July 20). Pemex station near Basilica of Our Lady of Guadalupe Basilica, Mexico City [Photograph]. Wikimedia Commons. Licensed under CC BY‑SA 3.0. Source: Wikimedia Commons, edited

Mexico Launches Crackdown on Cross-Border Fuel Theft

Mexico’s attorney general has vowed to issue more arrest warrants—potentially targeting government officials—in connection with sprawling fuel theft operations that siphon billions of dollars from the country.