Newsletter 14 Jan 2025: Risk Officer Fired, Admiral Casino Fined, Bangladesh Investigation, Crypto Block, FIU-IRDAI MoU, Deel Ponzi Scheme

Newsletter 14 Jan 2024: Risk Officer Fired, Admiral Casino Fined, Bangladesh Investigation, Crypto Block, FIU-IRDAI MoU, Deel Ponzi Scheme

Newsletter (06 Jan – 12 Jan 2025)

Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world:

1. Portugal’s Novo Banco Fires CRO Amid ‘Suspicious Transactions’

Portugal’s fourth-largest lender, Novo Banco, has dismissed its Chief Risk Officer, Carlos Brandao, citing “suspicious” financial transactions uncovered in an internal investigation. Brandao, also an executive board member, was terminated immediately. The bank has reported the matter to the banking regulator and lodged a complaint with the Public Prosecutor’s Office, which has initiated an inquiry.

Read more

2. Alderney Gambling Company Fined £1m for AML Failures

Greentube Alderney Limited, operating as Admiral Casino, has been fined £1 million after an investigation by the Gambling Commission revealed lapses in social responsibility and anti-money laundering (AML) measures. This marks the second regulatory action against the company, following a £685,000 fine in 2021 for similar issues. The settlement funds will go toward socially responsible initiatives.

Read more

3. Bangladesh AML Agency Investigates Tulip Siddiq’s Finances

Bangladesh’s anti-money laundering agency has demanded bank details of Tulip Siddiq, a UK Treasury minister, along with six family members, including her mother, siblings, and aunt Sheikh Hasina, the former Bangladeshi prime minister. The inquiry seeks details on accounts and transactions as part of ongoing investigations.

Read more

4. Kazakhstan Cracks Down on Illegal Crypto Exchanges

Kazakhstan’s financial regulator has liquidated 36 illegal cryptocurrency exchanges, with a combined turnover of 60 billion tenge (~$112.84 million), and blocked over 3,500 unregistered platforms. Authorities seized 4.8 million USDT and dismantled two crypto pyramid schemes, recovering additional assets. The crackdown aims to counter rising money laundering activities facilitated by these platforms.

Read more

5. FIU-IND and Irdai Collaborate to Strengthen AML Measures

India’s Financial Intelligence Unit (FIU-IND) and the Insurance Regulatory and Development Authority (Irdai) have signed an MoU to enhance cooperation in combating money laundering. The agreement includes sharing intelligence, aligning reporting procedures, and conducting outreach to regulated entities under the Prevention of Money Laundering Act.

Read more

6. Payroll Startup Deel Refutes Money Laundering Allegations

Deel, Inc. has denied allegations of involvement in a Ponzi scheme and compliance failures reported in a lawsuit filed in the U.S. District Court for the Southern District of Florida. The company disputes inaccuracies in earlier reporting and emphasizes the lack of evidence supporting these claims. Legal proceedings continue in the matter.

Read more

Stay informed with our weekly digest, bringing you the most impactful news from around the globe. Thank you for reading!
Subscribe to our weekly Newsletter – Click Here
Empower your organization with ZIGRAM’s integrated RegTech solutions – Book a Demo