Anti Money Laundering News (20 Oct – 26 Oct 2025)
Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world:
Canada imposes record C$176.9 million fine on crypto dealer for money-laundering failings
Canada’s financial intelligence agency Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has fined Xeltox Enterprises Limited (also operating as Cryptomus and formerly Certa Payments) C$176.9 million (≈ US$126 million) — the largest penalty to date — after the firm failed to submit suspicious-transaction reports despite credible indications of laundering tied to child-sexual-abuse material, ransomware, fraud and sanctions-evasion. The firm also neglected to report receipt of more than C$10,000 in virtual currency from a client. The action underscores Canada’s heightened anti-financial-crime enforcement ahead of a forthcoming Financial Action Task Force (FATF) audit.
Canada unveils national anti-fraud strategy and creates new Financial Crimes Agency
The Canadian government announced its first cross-government national anti-fraud strategy and the establishment of a dedicated agency, the Financial Crimes Agency, tasked with investigating complex financial crime, recovering illicit proceeds and combating money-laundering, fraud and organised criminal activity. Legislation is targeted for introduction by spring 2026. The measures will require banks to adopt fraud-prevention policies, give consumers more control over accounts, and extend to telecoms and technology sectors. This initiative comes on the back of data showing Canadians lost C$643 million to fraud in 2024.
FATF warns Pakistan: removal from grey-list does not grant immunity from money-laundering and terror-financing risks
The global financial-crime watchdog FATF has cautioned Pakistan that its exit from the “grey list” in October 2022 does not shield it from ongoing scrutiny or action related to money-laundering and terrorist-financing (ML/TF). The warning emphasises that even delisted jurisdictions remain subject to follow-up and must maintain effective AML/CFT frameworks. Pakistan remains under monitoring by the Asia/Pacific Group on Money Laundering (APG).
ED attaches assets worth ₹12.65 crore of Sahiti Infratec Ventures, its former director and associates in money-laundering case
India’s Enforcement Directorate (ED) has provisionally attached movable and immovable assets valued at around ₹12.65 crore belonging to Sahiti Infratec Ventures India Pvt Ltd (SIVIPL), its former director Sandu Purnachandra Rao and associated family members and entities under the Prevention of Money-Laundering Act (PMLA). The action follows a multi-crore investor-fraud and money-laundering investigation involving alleged diversion of funds from homebuyers and use of benami entities.
UK Gambling Commission fines Platinum Gaming £10 million for AML and social-responsibility failures
The UK Gambling Commission has levied a £10 million penalty on Platinum Gaming Limited for systemic failures in anti-money-laundering controls and social-responsibility obligations (such as detecting and preventing customer harm). The action highlights increasing regulatory pressure on the gaming and gambling sector to strengthen AML frameworks and player-protection safeguards.
FCA to assume AML supervision of all UK lawyers
The Financial Conduct Authority (FCA) in the UK is set to take over anti-money-laundering supervision of the legal profession, meaning that all practising lawyers will fall under the regulator’s AML regime. This move reflects heightened regulatory expectations around legal professionals’ roles in detecting and preventing financial crime, including money-laundering risks associated with legal services.
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