Anti Money Laundering News 25 Aug 2025

Anti Money Laundering News (18 Aug – 24 Aug 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 Revokes Malik Exchange Licence, Imposes Dh2 Million Fine

The Central Bank of the UAE has revoked Malik Exchange’s licence, removed it from the official register, and imposed a Dh2 million penalty for anti-money laundering violations under Federal Decree Law No. 20 of 2018. The action followed regulatory examinations that revealed significant compliance failures with AML and CFT requirements. The CBUAE reaffirmed its commitment to ensuring exchange houses operate within the law to protect the integrity of the UAE’s financial system.]

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UK Gambling Commission Fines ProgressPlay £1m for AML and Social Responsibility Failures

The British Gambling Commission has fined Malta-based operator ProgressPlay Limited £1 million for serious anti-money laundering (AML) and social responsibility violations across its 134 websites. The regulator cited failures to conduct adequate risk assessments, insufficient scrutiny of customer transactions, and weak monitoring systems that hindered early detection of gambling-related harm. ProgressPlay has also been issued a warning, ordered to undergo a third-party audit, and reminded that repeated breaches will invite tougher enforcement. This is the operator’s second penalty after a £175,718 fine in 2022 for similar failings.

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Banque J. Safra Sarasin Fined CHF 3.5m in Swiss Petrobras Money Laundering Case

The Swiss Office of the Attorney General has fined Banque J. Safra Sarasin CHF 3.5 million for failing to prevent aggravated money laundering linked to the Petrobras “Lava Jato” corruption scandal between 2011 and 2014. The bank also paid CHF 16 million in settlement to Petrobras, while a former relationship manager received a six-month suspended custodial sentence for laundering USD 29.2 million. Investigators found that weak internal controls at Banque Safra enabled suspicious transactions amounting to over USD 71 million, undermining the integrity of Switzerland’s financial system.

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AUSTRAC Orders Binance Australia to Undergo Independent AML Audit

Australia’s financial crime watchdog, AUSTRAC, has directed Binance’s local unit to appoint an external auditor amid concerns over weak anti-money laundering and counter-terrorism financing controls. The regulator flagged limited independent review capacity, a shortage of local staff, and inadequate oversight from senior management at the crypto exchange. Citing the rising vulnerability of digital currencies to criminal abuse, AUSTRAC stressed the need for tighter compliance in high-risk sectors. Binance Australia confirmed it will cooperate with the audit, as regulatory scrutiny of its operations in the country continues.

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JPMorgan to Pay $330 Million to Malaysia in 1MDB Settlement

JPMorgan Chase has agreed to pay Malaysia $330 million to settle claims over its role in the 1MDB scandal, with the funds directed to the government’s 1MDB Assets Recovery Trust Account. The settlement resolves all current and future litigation between the two parties, ending Malaysia’s $800 million lawsuit against JPMorgan’s Swiss unit. Separately, Swiss authorities fined JPMorgan’s Swiss arm 3 million francs for failing to prevent aggravated money laundering tied to the case. The 1MDB scandal, which saw $4.5 billion misappropriated between 2009 and 2014, remains one of the world’s largest financial frauds.

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ED Files 22 Money Laundering Cases in Builders-Banks Nexus Probe

The Enforcement Directorate has filed 22 cases under the Prevention of Money Laundering Act to investigate alleged collusion between builders and banks that cheated thousands of homebuyers in the National Capital Region. The cases stem from CBI FIRs registered on Supreme Court directives after a probe into the misuse of “subvention schemes,” where developers defaulted on EMIs despite receiving loan disbursements. Major builders including Jaypee, Ajnara, Supertech, and Vatika, along with leading banks and housing finance companies, have been named. The ED will pursue fraud, corruption, and illicit asset recovery.

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