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Introducing this week's newsletter with essential insights on AML, financial crime, and regulatory updates—tailored for your success.

Italian Authorities Seize €41 Million In Assets From Monaco Owner Fedorychev

Assets worth €41 million were seized from Monaco's owner, Alexey Fedorychev, including company shares and four real estate units, including the Castle of Torre del Gallo, in relation to a money laundering and corruption case in Kyiv, Ukraine.

The Terra chain is currently combating a hack that reportedly resulted in loss of over $5 million assets, including USDC and Astroport tokens due to absence of a patch.

Parliament Passes Anti-Money Laundering Bill

The Transitional National Legislative Assembly (TNLA) on Monday passed the Anti-Money Laundering and Counter-Terrorist Financing Act 2012 (Amendment) Bill 2024. The Bill is aimed at thwarting hiding criminal profits inside the financial system...

Insurance company AIA Group has been ordered to pay a penalty of HK$23 million ($2.9 million) by the Insurance Authority of Hong Kong due to lapses in anti-money laundering procedures, the regulator said on Friday. The Insurance Authority found technical issues in the way the company's Hong Kong branch was using its anti-money laundering system.

Cryptonator Founder Indicted After Platform Found Handling $235 Million In Illicit Funds

The Justice Department indicted Russian national Roman Pikulev for his role in founding and operating Cryptonator — an unlicensed cryptocurrency exchange that the U.S. says processed more than $235 million in illicit funds.

Taipei District Court on Thursday handed down jail sentences of 16 years, six months and 12 years, two months to Tseng Yao-feng (曾耀鋒) and Chang Shu-fen (張淑芬), founders of the lending platform im.B, for money laundering and illegally accepting deposits.