Anti Money Laundering News (10 Nov – 16 Nov 2025)
Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world:
South Africa’s Prudential Authority Fines Discovery Bank R3 Million for FICA Compliance Failures
South Africa’s Prudential Authority has fined Discovery Bank R3 million for extensive breaches of obligations under the Financial Intelligence Centre Act. An inspection revealed major weaknesses in staff training, suspicious-activity reporting procedures, and transaction-monitoring operations. Over 2,280 alerts generated by automated systems were not processed within the mandated 48-hour window, and dozens of employees — including senior staff — had not received mandatory annual or onboarding AML training. Several suspicious transaction reports were filed late or not submitted at all, raising concerns about systemic governance and oversight gaps.
Discovery Bank, a relatively new digital-first entrant that recently achieved profitability, has accepted the enforcement outcome and committed to comprehensive remediation. The regulator emphasised that emerging banks must demonstrate the same standard of risk management and AML/CFT controls as traditional institutions. The case also underscores the expanding supervisory focus on training metrics, workflow management and organisational accountability — areas increasingly under scrutiny in digital banking environments.
For compliance professionals, the decision signals that supervisory bodies will not overlook operational weaknesses even if no explicit money-laundering scheme has been identified. Rather, process failures alone are now grounds for meaningful sanctions as regulators prioritise preventive controls.
ICIJ Exposes Global Crypto-Cash Exchange Networks Fueling Laundering in “Coin Laundry” Investigation
A sweeping investigation by the International Consortium of Investigative Journalists has mapped how informal crypto-cash exchange networks enable criminals to convert illicit digital assets into hard-to-trace cash. The ten-month project examined more than a hundred wallet addresses tied to scams, cyber-heists, extortion rackets and sanctioned actors, revealing how money flows through a chain of mixers, exchanges and in-person “cash desks.”
These services allow digital assets to be cashed out in physical currency with little or no customer-due-diligence. Once converted, funds typically re-enter the economy through real-estate purchases, luxury goods or layered transactions across multiple jurisdictions. Because many of the facilitators operate in regulatory grey zones and exploit fragmented global oversight, law-enforcement attempts to trace criminal proceeds often go cold at the conversion point.
The report highlights the growing risk posed by these hybrid models that sit at the intersection of crypto, money-service businesses and informal value-transfer systems. For regulators, the findings illustrate urgent needs: licensing of cash-out providers, red-flag typologies for crypto-fiat conversion, and enhanced cross-border coordination.
Kazakhstan Approves Comprehensive AML Reforms to Strengthen Financial Oversight
Kazakhstan has introduced wide-ranging anti-money-laundering reforms aimed at reinforcing transaction monitoring, preventing financial-sector abuse and aligning national frameworks with international standards. The measures strengthen scrutiny of high-risk transactions, including fictitious loans, unusual cash withdrawals and suspicious electronic transfers. The Financial Monitoring Agency will deploy new analytical methodologies to track illicit cash flows and patterns that indicate criminal proceeds being integrated into the system.
The regulatory package also tightens obligations on virtual-asset service providers, expands licensing requirements for non-bank financial entities and enhances international cooperation mechanisms. Authorities stressed that emerging risks — especially from fintech channels and virtual-asset exchanges — require faster, data-driven oversight.
As Kazakhstan continues improving its AML/CFT posture, these reforms are expected to elevate supervisory expectations for banks and non-bank financial institutions. They also signal that jurisdictions with expanding digital financial ecosystems are prioritising economic integrity and adherence to global AML benchmarks.
Bangladesh’s Financial Intelligence Unit Fines Premier Bank and Officials Tk 3.44 Crore for Major Violations
Bangladesh’s Financial Intelligence Unit has levied Tk 3.44 crore in fines against Premier Bank and several of its officials for grave breaches of the Money Laundering Prevention Act. The investigation found that former chairman HBM Iqbal and family members used bank credit-card facilities to purchase real estate and execute large foreign transactions that exceeded permissible limits. They also opened foreign-currency deposit accounts without required documentation.
Premier Bank failed to report these anomalies as suspicious activities, did not file mandatory declarations, and did not ensure proper customer-due-diligence procedures. The bank was fined Tk 2.20 crore, while officials were collectively fined Tk 1.24 crore.
The case underscores ongoing vulnerabilities in credit-card monitoring, cross-border transaction controls and political-exposure risk management. Regulators are increasingly linking accountability to individuals as well as institutions, highlighting the need for governance, escalation protocols and integrated monitoring solutions across product lines.
Dutch Prosecutor Fines TMF Group €130,000 for AML Failures Identified Under Self-Reporting Regime
The Dutch public prosecutor has fined TMF Group €130,000 after the corporate-services provider self-reported lapses in its AML control framework. TMF, a global fiduciary and administrative-services provider, disclosed the failings under the Netherlands’ voluntary self-reporting regime, which led to a reduced penalty. Although specific violations were not publicly detailed, the enforcement action shows the increasing AML expectations placed on corporate-service providers, trust administrators and non-bank intermediaries.
The case highlights a broader trend: regulators are extending AML oversight beyond traditional financial institutions into professional-service industries that can be exploited for company formation, asset structuring and beneficial-ownership obscuration. For compliance teams, it reinforces the need for robust KYC, ongoing monitoring and independent oversight across corporate-service workflows.
Caesars Entertainment Fined USD 7.8 Million for Allowing Illegal Bookmaker to Launder Funds Through Casino Operations
US regulators have fined Caesars Entertainment USD 7.8 million after determining that the casino operator failed to prevent illegal bookmaker Mathew Bowyer from using its properties to launder millions in illicit proceeds. Bowyer, who pleaded guilty in 2024, moved large volumes of cash through casino chips, front-money accounts and high-value transfers — activity that Caesars failed to flag as suspicious despite clear red-flag indicators.
Investigators found that Bowyer operated a large network of runners and agents, using the casino as a financial conduit rather than for legitimate gambling. Caesars’ AML controls, oversight of high-roller activity and monitoring of cash-to-chip conversions were deemed inadequate to detect or prevent the laundering scheme.
This case reinforces growing regulatory pressure on casinos and iGaming operators to implement stricter AML systems, especially around high-value patrons, cash transactions and third-party betting networks.
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