Anti Money Laundering News (19 May – 25 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:
UAE Central Bank Imposes Dh200 Million Fine on Exchange House for AML Violations
The UAE Central Bank has fined an unnamed exchange house Dh200 million ($54.45 million) for major lapses in complying with anti-money laundering (AML), counter-terrorism financing, and related regulations. Following examinations by the regulator, a branch manager was also fined Dh500,000 and barred from working in any licensed financial institution within the country. This enforcement action comes amid the UAE’s broader push to strengthen its financial crime controls, highlighted by the 2024–27 National Strategy and multiple legislative reforms in recent years.
CBN Unveils AI-Powered AML Standards, Gives Banks 12 Months to Comply
The Central Bank of Nigeria (CBN) has released a draft framework introducing AI-driven anti-money laundering (AML) standards for financial institutions. Aimed at addressing the complexities of Nigeria’s evolving digital financial ecosystem, the circular mandates real-time transaction monitoring, enhanced due diligence, watchlist screening, and automated regulatory reporting. Once finalised, banks and other regulated entities will have 12 months to ensure full compliance. The CBN will monitor implementation through inspections and warns of penalties for non-compliance.
Nepal Sees 49% Surge in Suspicious Money Laundering Transactions in 2024
Nepal Rastra Bank’s Financial Information Unit has reported a 49% increase in suspicious transaction reports (STRs) related to money laundering in 2024. The number rose from 6,255 in 2023 to 9,304 in 2024. Of the total reports, 1,086 were forwarded for further investigation, while 808 were reserved for future analysis. The volume of submitted transaction records also jumped from 1.7 million to 1.97 million, alongside an increase in reporting institutions from 1,496 to 1,905.
India to Urge FATF to Re-Greylist Pakistan Over AML/CFT Failures
India is preparing to submit a detailed dossier at the June 2025 FATF plenary, urging the global watchdog to place Pakistan back on its grey list. The move comes amid fresh evidence of Islamabad’s failure to curb money laundering and terror financing, especially after the recent Pahalgam terror attack. India alleges Pakistan’s compliance remains superficial, particularly in tackling UN-sanctioned groups like LeT and JeM. The dossier will also question World Bank and IMF aid to Pakistan, citing misuse of funds. Pakistan, likely to counter with support from China, Saudi Arabia, and Turkey, had earlier exited the FATF grey list in 2022 after four years of scrutiny.
Edmond de Rothschild Europe Fined €25 Million in 1MDB Money Laundering Case
A Luxembourg court has fined private bank Edmond de Rothschild Europe €25 million for its role in laundering funds linked to Malaysia’s 1MDB scandal — the country’s first banking conviction for money laundering. The court approved a settlement in which the bank admitted to money laundering and concealment charges. Authorities found the bank failed to verify the origin of €433.7 million deposited between 2009 and 2013. While the bank says it implemented remediation measures and cooperated fully, investigations into former staff and clients remain ongoing.
Indonesia Freezes 28,000 Bank Accounts in Online Gambling Crackdown
Indonesia’s anti-money laundering agency, PPATK, blocked over 28,000 bank accounts in 2024 as part of a crackdown on illegal online gambling. Many of the frozen accounts were used in laundering proceeds from fraud and narcotics or were dormant accounts hijacked by criminals. The PPATK has urged citizens to close unused accounts and avoid sharing personal data. Since October 2024, authorities have removed 900,000 gambling-related sites and content. Despite calls from some lawmakers to legalize casinos, the government and top Islamic bodies remain firmly opposed.
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