Anti Money Laundering News 05 May 2025

Anti Money Laundering News (28 Apr – 04 May 2025)

Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world:

Liberia Fines Lonestar Cell MTN Mobile Money L$25 Million for Serious AML Failures

Liberia’s Financial Intelligence Agency (FIA) has fined Lonestar Cell MTN Mobile Money Inc. L$25 million for longstanding non-compliance with anti-money laundering (AML) laws, including governance lapses, inadequate transaction monitoring, and failure to vet agents. The fine follows a risk-based inspection uncovering links to fraud schemes and violations dating back six years, signaling stricter enforcement in the country’s digital financial services sector.

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Belgian Police Seize €1.4 Million in Major Money Laundering Bust in Brussels

Belgium’s Federal Judicial Police seized over €1.4 million and arrested 10 individuals in a wide-scale anti-money laundering raid involving 36 searches across Brussels. Authorities uncovered a criminal network using fake invoices and shell companies to launder €54 million since 2020. The suspected ringleader has fled to Dubai, while the investigation—triggered by a financial intelligence report—continues.

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RL360 Pays £1.95 Million Settlement to Isle of Man Regulator Over AML Weaknesses

Isle of Man-based RL360 has agreed to a £1.95 million civil penalty with the Financial Services Authority after a 2023 AML inspection revealed procedural shortcomings. While the breaches caused no direct customer harm or confirmed money laundering, the company accepted the findings and has already implemented corrective measures, earning a 30% fine reduction for cooperation.

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U.S. Labels Cambodia’s Huione Group a Major Global Money Laundering Threat

The U.S. Treasury’s FinCEN has named Cambodia-based Huione Group a “primary money laundering concern” for facilitating nearly $4 billion in illicit transactions linked to cybercrime, scams, and North Korean hackers. The designation, under the Patriot Act, could ban U.S. financial institutions from dealing with Huione and severely restrict its global operations, highlighting growing scrutiny of digital payment platforms.

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South Africa Adopts Crypto Travel Rule to Align with Global AML Standards

South Africa will implement the FATF-recommended Crypto Travel Rule on April 30, 2025, requiring crypto service providers to collect and transmit detailed sender and receiver information. The move strengthens anti-money laundering oversight, enhances transparency in virtual asset transactions, and reflects the country’s commitment to aligning with international financial integrity norms.

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Court Orders Forfeiture of ₱189M in Assets from Clark POGO Hub

A Makati Regional Trial Court has ordered the forfeiture of over ₱189 million in assets seized from Colorful and Leap Group, a subsidiary of CGC Technologies Inc., following a May 2023 raid on their POGO facility at Clark Sun Valley Hub in Pampanga. The raid, led by the Anti-Money Laundering Council (AMLC) and other law enforcement agencies, targeted alleged violations of anti-trafficking and cybercrime laws.

Authorities reported the hub was engaged in human trafficking and cyber-enabled fraud—such as romance scams and fake cryptocurrency schemes—disguised as offshore gaming. The operation rescued 1,137 foreigners and 129 Filipinos, many of whom were coerced into online scams.

Seized assets included vaults containing ₱187.8 million, US$1.7 million, and other foreign currencies. The Clark Development Corporation (CDC) subsequently shut down all business operations in eight buildings and a warehouse, reinforcing its mandate to prevent criminal enterprises from operating within the freeport.

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