Anti Money Laundering News (22 Jun – 28 Jun 2025)
Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world:
$245M Bitcoin Heist Mastermind Faces Prison, Fine, and Deportation After Wild Crime Spree
Veer Chetal, a 19-year-old from Connecticut, has pleaded guilty to stealing 4,100 Bitcoins—worth nearly $440 million today—through elaborate social engineering scams. His parents were kidnapped days after the theft, and authorities later uncovered millions in cash and crypto linked to him. Chetal faces up to 24 years in prison, hefty fines, and possible deportation to India.
40% of Small Canadian Banks Breach AML Rules, Raising Mortgage-Related Risk Concerns
A Fintrac report reveals that 18 out of 50 small and medium-sized Canadian banks have significant gaps in their anti-money laundering controls, with some posing serious financial crime risks. Deficiencies include poor suspicious transaction reporting and vulnerabilities around mortgage dealings. Experts urge stricter penalties, though enforcement remains limited.
Singapore Firm Accused of Illegally Receiving $57 Million in Cross-Border Payments
Two men linked to Singapore company Tupt face charges for allegedly operating unlicensed payment services and receiving over $57 million from abroad. Between 2020 and 2022, the company conducted 58 illegal transactions via RHB and Standard Chartered accounts. Authorities warn of strict action against unlicensed money transfer operations.
Greece Freezes $1.5 Billion in Stolen Crypto Linked to Bybit Hack
Greek authorities have frozen a crypto wallet containing stolen funds from the $1.5 billion Bybit hack, marking the country’s first such action. The Hellenic Anti-Money Laundering Authority traced the funds to a Greek trading platform. The hack, attributed to North Korea’s Lazarus Group, highlights the global scale of crypto-related financial crime.
UAE Bank Fined Dh3.5 Million, Barred from Taking New Customers Over Sharia and AML Violations
The UAE Central Bank has fined an unnamed bank Dh3.5 million and imposed a six-month ban on accepting new customers due to breaches of Sharia governance and anti-money laundering rules. The action follows supervisory examinations under Federal Law No. (14) of 2018 aimed at ensuring integrity and compliance in the country’s financial sector.
Singapore Fines Five Payment Firms $960,000 Over Anti-Money Laundering Failures
The Monetary Authority of Singapore has fined five major payment firms nearly $1 million for lapses in anti-money laundering and counter-terrorism financing controls. Breaches included poor customer due diligence and missing wire transfer information. MAS emphasized the need for stronger compliance and announced plans to release industry-wide guidance.
Stay informed with our weekly digest, bringing you the most impactful news from around the globe. Thank you for reading!
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- #NorthKorea
- #LazarusGroup