Anti Money Laundering News (8 Jun – 14 Jun 2026)
Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world
Nepal Files Banking Offence Case Over Rs421 Million Alleged Loss Against Agrawal and Bhatta
Nepalese authorities have filed a major banking offence case at the Patan High Court against businessmen Shanker Lal Agrawal, Sulav Agrawal, Sahil Agrawal and Deepak Bhatta over an alleged financial loss exceeding Rs421 million. The case is one of the country’s significant financial crime investigations and is accompanied by separate proceedings under securities and insurance laws, highlighting the broad regulatory implications of the matter.
Investigators allege that the accused were involved in activities that caused substantial losses to the banking system, prompting coordinated action by multiple regulatory and enforcement agencies. The parallel cases under securities and insurance legislation suggest that the alleged misconduct may have extended beyond traditional banking operations and into wider financial market activities.
The prosecution reflects Nepal’s growing emphasis on strengthening financial sector governance, protecting investors and maintaining confidence in the banking system. The case also demonstrates an increasing willingness by authorities to pursue complex financial crime matters through multiple legal channels where banking, securities and insurance regulations intersect.
If proven, the allegations could have significant legal and financial consequences for the accused while reinforcing the country’s commitment to combating financial misconduct and improving regulatory oversight.
FINRA Fines Prime Number Capital $335,000 for IPO Filing and Regulatory Compliance Failures
The Financial Industry Regulatory Authority (FINRA) has imposed a $335,000 fine and a formal censure on Prime Number Capital LLC for regulatory violations connected to its initial public offering (IPO) underwriting activities. In addition to the monetary penalty, the firm has been ordered to retain an independent consultant to review and strengthen its compliance framework.
According to FINRA, between September 2020 and October 2025, Prime Number Capital failed to submit required IPO-related documentation within mandated timelines. These deficiencies violated FINRA Rules 5110 and 2010, which govern corporate financing practices and require member firms to maintain high standards of commercial honour and just and equitable principles of trade.
The enforcement action underscores FINRA’s increasing focus on regulatory reporting, supervisory controls and underwriting compliance. Timely filing of documentation enables regulators to monitor capital market activities and identify potential conflicts of interest or irregularities.
The requirement to appoint an independent consultant indicates that regulators view the firm’s compliance shortcomings as systemic rather than isolated incidents. The case serves as a reminder to broker-dealers and investment firms that robust governance, effective supervision and strict adherence to regulatory filing obligations are essential components of a strong compliance culture.
French Court Convicts Worldpay in €35 Million Forex Fraud Scheme
A Paris Criminal Court has convicted global payments company Worldpay in connection with a €35 million foreign exchange investment fraud scheme, imposing a €200,000 fine on the payments giant. The case relates to fraudulent activities that occurred between 2011 and 2014 and has become a notable example of regulatory scrutiny over payment service providers and their anti-financial crime controls.
The fraudulent operation allegedly promoted online forex investments with promises of substantial returns. Instead of carrying out legitimate trading activities, investor funds were routed through multiple accounts across different jurisdictions. The court found Worldpay guilty of complicity in the illegal provision of payment services, determining that the company failed to adequately verify information supplied by its client, Seroph, a Dutch entity connected to the fraudulent network.
Judges concluded that deficiencies in due diligence and client verification allowed the payment infrastructure to be used in support of the scheme. The ruling highlights the growing expectations placed on payment processors to implement effective Know Your Customer (KYC), customer due diligence and transaction monitoring measures.
The decision reinforces the message that financial institutions and payment companies can face legal liability if inadequate controls enable fraud or money laundering activities.
South Korea Imposes Record $410 Million Fine on Coupang Over Massive Data Breach
South Korea has imposed a record penalty of approximately $410 million on e-commerce giant Coupang for a massive data breach and unlawful collection of user information, marking the country’s largest-ever privacy enforcement action. The fine was issued by the Personal Information Protection Commission (PIPC) after a comprehensive investigation into the company’s data management practices.
Authorities found that more than 33 million customer accounts were affected by a breach linked to inadequate internal security controls. Investigators concluded that a former employee retained access to an authentication key after leaving the company, enabling unauthorized access to sensitive customer information over an extended period. The regulator also determined that approximately 11 million users had their online activity data collected without proper authorization for marketing purposes.
The fine includes separate penalties for the data breach and the unauthorized collection of personal information. Regulators criticised Coupang for failing to detect the breach promptly and for weaknesses in its cybersecurity governance.
The case has become a landmark example of increasing global regulatory expectations regarding data protection, cyber resilience and corporate accountability. It also underscores the growing financial and reputational risks that organisations face when personal information is inadequately protected.
ASB Bank Fined NZ$6.73 Million for Anti-Money Laundering Compliance Failures
ASB Bank has been ordered to pay NZ$6.73 million after being found in breach of New Zealand’s anti-money laundering and counter-terrorism financing (AML/CFT) laws. The penalty is reported to be the largest AML-related fine imposed by a New Zealand court, reflecting the country’s increasingly strict approach to financial crime compliance.
The enforcement action followed regulatory findings that ASB maintained inadequate AML systems and controls, exposing the institution to heightened financial crime risks. Effective AML frameworks require banks to conduct customer due diligence, monitor transactions, identify suspicious activities and maintain robust compliance programmes capable of detecting money laundering and terrorist financing.
The substantial penalty demonstrates regulators’ expectations that financial institutions continuously assess and strengthen their AML controls. Weak governance structures, insufficient monitoring processes and ineffective risk management can create opportunities for illicit financial flows and undermine the integrity of the financial system.
The case serves as a warning to banks and other reporting entities that AML compliance failures can result in significant financial penalties and reputational damage. It also highlights the importance of investing in modern compliance technologies and maintaining a strong culture of regulatory accountability.
Washington State Moves to Revoke Bitcoin Depot License, Seeks $1.5 Million Fine for Alleged Crypto ATM Violations
The Washington State Department of Financial Institutions (DFI) has initiated enforcement action against Bitcoin Depot Operating LLC and its responsible individual, Brandon Taylor Mintz, seeking to revoke the company’s state license and impose a $1.5 million fine over alleged regulatory violations involving its cryptocurrency kiosk business. The regulator has also proposed banning both the company and Mintz from participating in Washington’s money transmission industry for a period of 10 years.
According to the Statement of Charges, investigators allege that Bitcoin Depot’s crypto ATMs charged customers fees of up to 42% above prevailing market rates, failed to adequately monitor transactions for fraudulent activity, and did not provide legally required disclosures in more than 30,000 virtual currency transactions. Authorities also cited alleged deficiencies related to anti-money laundering (AML) compliance, customer verification procedures, and financial reporting obligations.
The investigation found that many alleged victims were older adults, reflecting growing regulatory concerns over the misuse of crypto ATMs in fraud schemes targeting vulnerable consumers. The enforcement action comes shortly after Bitcoin Depot filed for Chapter 11 bankruptcy protection. While the allegations remain unproven and the company has the right to contest them, the case underscores increasing scrutiny of cryptocurrency service providers and the importance of robust AML controls, transparent pricing practices, and effective consumer protection measures.
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