Anti Money Laundering News (29 Jun – 05 Jul 2026)
Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world
Bangladesh Passes Anti-Gambling Law with 7-Year Jail Term and Tk 5 Crore Fine for Online Betting
Bangladesh’s Parliament has passed the Gambling Prevention Ordinance 2025, replacing the colonial-era Gambling Act of 1867 with a stricter legal framework to combat illegal gambling and online betting. The new law introduces penalties of up to seven years’ imprisonment and fines reaching Tk 5 crore for operating or facilitating online gambling platforms. It also criminalizes promoting, advertising, financing, or providing digital infrastructure for illegal betting activities. The legislation expands enforcement powers by allowing authorities to seize gambling-related assets and prosecute individuals involved in organized gambling networks. The reform reflects Bangladesh’s growing concern over cyber-enabled financial crime, illicit fund flows, and the misuse of digital payment channels. By modernizing its gambling laws, the government aims to strengthen public order, reduce money laundering risks linked to online betting, and improve oversight of digital financial activities in line with evolving cybercrime threats.
Australia Expands AML/CTF Rules to Cover Real Estate, Lawyers and Accountants
Australia has officially expanded its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime, bringing thousands of businesses, including real estate agents, lawyers, accountants, conveyancers, and precious metal dealers, under regulatory oversight from July 2026. The reforms represent one of the country’s most significant AML updates in nearly two decades and are designed to close long-standing regulatory gaps exploited by criminals to launder illicit funds through professional services and property transactions. Newly regulated businesses must implement risk-based AML programs, conduct customer due diligence, maintain transaction records, and report suspicious activities to AUSTRAC. Commonwealth Bank has urged affected businesses to prepare early by understanding their compliance obligations and strengthening internal controls. The reforms align Australia’s AML framework with Financial Action Task Force (FATF) standards while enhancing the country’s ability to detect financial crime and protect the integrity of its financial system.
SEC Fines Merrill Lynch $7.5 Million for AML Reporting Failures
The U.S. Securities and Exchange Commission (SEC) has fined Merrill Lynch, a subsidiary of Bank of America, $7.5 million for failing to file a significant number of Suspicious Activity Reports (SARs) between April 2020 and September 2024. According to the SEC, the firm’s automated transaction monitoring system used a risk-scoring threshold that failed to flag numerous transactions warranting further investigation, allowing suspicious activities involving hundreds of millions of dollars to go unreported. Merrill Lynch neither admitted nor denied the regulator’s findings but agreed to settle the enforcement action. The SEC noted that although Bank of America maintained an enterprise-wide AML program, Merrill retained independent obligations under the Bank Secrecy Act to detect and report suspicious transactions. The case underscores the importance of effective transaction monitoring systems and robust AML governance within financial institutions.
ECB Fines Luxembourg’s BIL €3.26 Million for Serious Capital Reporting Breach
The European Central Bank (ECB) has imposed a €3.26 million administrative penalty on Banque Internationale à Luxembourg (BIL) for serious breaches of prudential capital reporting requirements. According to the ECB, the bank submitted inaccurate regulatory data relating to its capital position, affecting the reliability of supervisory reporting used to assess financial resilience. Although the regulator stated that the violations did not immediately threaten the bank’s solvency, it considered the reporting deficiencies sufficiently severe to warrant financial sanctions. Accurate regulatory reporting is a critical component of prudential supervision, enabling authorities to monitor banks’ capital adequacy and systemic risk. The enforcement action highlights the ECB’s continued focus on strengthening governance, internal controls, and data quality across European financial institutions. It also serves as a reminder that inaccurate regulatory reporting can result in significant financial penalties and increased supervisory scrutiny.
Indonesian Prosecutors Seek Rp359.9 Billion Restitution from Three TaniHub Companies
Indonesian prosecutors have demanded Rp359.9 billion in restitution from three companies associated with agritech startup TaniHub as part of an ongoing corruption case involving the misuse of investment funds. Prosecutors argued that the firms knowingly participated in unlawful activities that caused state losses estimated at approximately US$25 million (around Rp364.2 billion). The restitution demand forms part of broader legal proceedings targeting former executives and entities allegedly involved in misappropriating investment capital. Authorities contend that the offenses undermined government efforts to combat corruption and improve corporate governance. The case has attracted significant attention within Indonesia’s venture capital and startup ecosystem, highlighting growing regulatory scrutiny of investment practices, financial accountability, and corporate governance. The proceedings demonstrate Indonesia’s continued commitment to pursuing corporate misconduct and strengthening enforcement against financial crimes involving investment funds.
Taiwan Strengthens AML Oversight as Financial Institutions Face Higher Compliance Expectations
Taiwan is strengthening its anti-money laundering (AML) framework as regulators increase expectations for financial institutions to improve compliance, risk management, and transaction monitoring. Authorities continue to emphasize stronger customer due diligence, enhanced monitoring of suspicious transactions, and closer cooperation between regulators and financial institutions to address emerging financial crime risks. The latest developments reflect Taiwan’s ongoing efforts to align its AML regime with international standards and reinforce the integrity of its financial system. Financial institutions are expected to enhance governance, improve reporting capabilities, and adopt more effective controls against money laundering and terrorist financing. The regulatory focus also supports Taiwan’s broader objective of maintaining a strong international reputation for financial transparency while reducing vulnerabilities that could be exploited by organized crime and illicit financial networks. These measures are expected to strengthen compliance culture across the country’s financial sector.
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