Explore every episode of the podcast Compliance Officers Playbook

In this Compliance Officers Playbook podcast episode, we unpack a gripping cross-border investigation from OCCRP and KRIK that reveals how Balkan organised crime networks allegedly used banana shipments from Noboa Trading Co.—the family business of Ecuadorian President Daniel Noboa—to smuggle massive quantities of cocaine into Europe.

Drawing on confidential Croatian prosecution files and decrypted Sky ECC messages, the exposé shows traffickers bragging about their privileged access to the company’s export routes. Journalists matched these chats to three verified Noboa Trading shipments that collectively hid 535 kilograms of cocaine, representing millions in street value. Through meticulous cross-referencing, investigators identified key players, including Nikola Đorđević, who handled container loading in Ecuador, all under the direction of convicted drug lord Darko Šarić.

We explore the political and operational fallout: how these revelations clash with President Noboa’s strong public stance against “narco-terrorists,” his insistence that his family business was unaware of the scheme, and what the findings expose about systemic security failures at Ecuador’s principal port. Tune in for a deep dive into how global supply chains, political influence, and organised crime intersect in this extraordinary case.

Freemium Episode: In this Compliance Officers Playbook podcast episode, we take a critical look at one of the most widely used—but deeply flawed—tools in corporate governance: the risk heat map. While these colorful grids may offer visual comfort, the source argues they create a dangerous illusion of control. Behind the neat presentation lie subjective scores, oversimplified assumptions, and an inability to capture real-world complexity—such as volatility, tail events, and interconnected risks.

We explore how internal politics, optimism bias, and the desire for clean reporting often amplify these weaknesses, masking serious financial exposure. You’ll hear why, if heat maps appear in board packs or audit reports, they should serve only as conversation starters, not as the foundation for risk measurement or decision-making.

The episode also highlights practical steps organizations can take: being transparent about scoring limitations and pairing any visual map with concrete financial impact ranges. Ultimately, we underscore the core message of the critique—relying on colored squares to define a risk profile isn’t risk management at all. It’s the absence of it.

In this episode, we break down the European Union’s sweeping overhaul of its anti–money laundering and counter-terrorist financing framework under Directive (EU) 2024/1640 (AMLD6). The new rules usher in a much more unified and transparent system for tracking beneficial ownership and cross-border financial structures across the EU.

We explore how AMLD6 standardises and interconnects national beneficial ownership registers—tightening registration rules, improving data quality, and ensuring seamless information flow between member states. At the center of this transformation is the newly established Authority for Anti-Money Laundering (AMLA), which will coordinate national Financial Intelligence Units (FIUs) and provide shared infrastructure for advanced analytics.

You’ll learn how FIUs will gain direct, unfiltered access to ownership registers, enabling faster, more accurate AML/CFT investigations and stronger enforcement across borders. With significant operational changes expected by 2026, this episode breaks down what compliance teams, financial institutions, and investigators need to know about the EU’s shift toward centralised data, powerful analytical tools, and an integrated enforcement ecosystem.

In this episode, we unpack the Serious Fraud Office’s newly detailed guidance on how corporate compliance programmes are evaluated across England, Northern Ireland, and Wales. The SFO relies on this framework in six key scenarios—from deciding whether to prosecute a company to determining whether a Deferred Prosecution Agreement (DPA) is appropriate.

We break down what the guidance means for organisations facing allegations of bribery or fraud, including how the SFO assesses statutory defences like “adequate procedures” for bribery and “reasonable procedures” for failure to prevent fraud. The conversation explores why the SFO places heavy emphasis on the effectiveness and proactive nature of compliance systems—both at the time of the offence and during charging decisions.

You’ll also learn why the SFO warns companies against treating compliance as a superficial “paper exercise.” Instead, programmes must be risk-based, proportionate, and continuously reviewed, regardless of a company’s size or sector. Tune in to understand how these standards are reshaping corporate accountability in the UK.

The European Commission announced in December 2025 that it has officially designated Russia as a high-risk jurisdiction due to serious strategic weaknesses identified within its anti-money laundering and counter-terrorist financing frameworks (AML/CFT). This action was taken pursuant to Delegated Regulation (EU) 2025/1393, which committed the Commission to reviewing nations whose membership in the Financial Action Task Force (FATF) had been suspended. Following a detailed technical assessment, the Commission concluded that Russia satisfied the established criteria to be labelled a high-risk third country under the 4th Anti-money Laundering Directive. Consequently, all EU financial entities covered by the AML framework are now required to apply enhanced vigilance when processing transactions involving Russia to preserve the integrity of the EU financial system. The delegated regulation is scheduled to take effect following a period of scrutiny and non-objection from both the European Parliament and the Council.

In this episode, we unpack the major enforcement action taken against Morgan Stanley after Dutch authorities uncovered its role in coordinated tax evasion schemes. Following extensive audits and criminal investigations, regulators issued a €101 million fine—the maximum possible—after determining that the firm used complex trading and derivative strategies to exploit dividend withholding tax rules.

We break down how a Dutch subsidiary was positioned as the apparent dividend recipient while the real economic benefits were funneled to foreign institutions that weren’t eligible for Dutch tax credits. The case reveals the intricate architecture behind these cross-border dividend schemes and highlights why prosecutors viewed the conduct as a deliberate misuse of the tax system.

Finally, we examine the broader implications for international dividend trading models and what this landmark sanction means for financial institutions operating across jurisdictions. Tune in for a clear, in-depth look at a case reshaping global tax-compliance expectations.

In this episode, we explore the ideas behind “Compliance: Quiet Failure, Safe Guardrails,” a compelling look at how organisational breakdowns rarely result from one dramatic event. Instead, they stem from small, repeated oversights—missed documentation, ignored red flags, and routine shortcuts—that quietly stack up until they explode into full-blown regulatory failures or reputational crises.

We discuss why strong compliance isn’t built on emergency responses but on consistent daily behaviours: clear processes, leadership that prioritises risk mitigation, and a culture that understands compliance as a strategic safety mechanism. Rather than a brake on growth, the text argues, compliance is an essential guardrail that enables companies to scale safely and sustainably.

Tune in to learn why the quietest failures are often the most dangerous—and how organisations can prevent them.

In this episode, we break down the landmark €21.5 million fine issued to Coinbase Europe Ltd by the Central Bank of Ireland—a ruling widely seen as a preview of what’s to come under the EU’s new Anti-Money Laundering Authority (AMLA).

We explore how systematic coding errors left Coinbase’s transaction-monitoring system ineffective for nearly four years, allowing more than 30 million transactions to go improperly screened. Regulators made it clear: technical failures aren’t treated as mere glitches—they’re serious compliance breaches, even if companies later conduct back-reviews to catch missed red flags.

The message to the crypto industry is unmistakable. Virtual Asset Service Providers must now operate with the same real-time governance and bank-grade controls expected of traditional financial institutions. As AMLA prepares to centralise and tighten anti-money laundering enforcement across the EU, this case sets a powerful new benchmark. Tune in to understand how this ruling could redefine compliance expectations for crypto players across Europe.

In this episode, we unpack the increasingly complex landscape of the EU’s digital regulatory regime—one that continues to evolve around the foundations set by the General Data Protection Regulation (GDPR). Drawing on recent analyses, we explore how regulators are sharpening their enforcement approach, applying strict criteria that can lead to fines of up to four percent of a company’s global turnover.

We look at real-world trends, including record penalties from Spain’s data protection authority, which signal a shift toward targeting systemic weaknesses in data security, governance, and risk management. From there, we examine how the EU’s new AI Act is creating fresh tension within the regulatory ecosystem—particularly where obligations for risk assessments, oversight bodies, and documentation overlap with long-standing GDPR requirements.

Finally, we break down the practical guidance organizations must follow for international data transfers, including the need for robust safeguards and thorough transfer risk assessments to stay compliant. If you want a clear picture of where EU digital regulation is heading—and what it means for businesses navigating it—this episode offers a concise, informed briefing.

In this episode, we dive into Wise’s major move into the African market, starting with its newly launched operations in South Africa. After securing conditional approval from the South African Reserve Bank to operate as a regulated foreign-exchange dealer, the London-based fintech is taking a significant step toward transforming one of the world’s most important remittance corridors.

We break down how Wise plans to deliver low-cost, real-time international payments to personal customers in its initial rollout—advancing the G20’s goal of faster, cheaper global transfers by 2027. You’ll also hear why Wise executives are calling this a milestone in reducing FX costs, and how UK Prime Minister Keir Starmer has publicly welcomed the move as a boost to UK–South Africa ties.

If you want to understand what this expansion means for cross-border finance in Africa and the future of global remittances, this episode has you covered.

In this episode, we break down the Australian Institute of Criminology’s latest statistical report on the true economic toll of serious and organised crime in Australia during the 2023–24 financial year. The headline figure is staggering: an estimated upper cost of $82.3 billion, a sum that accounts for a significant slice of the nation’s GDP.

We explore how this massive total is calculated—combining direct criminal losses with the indirect costs of prevention, enforcement, and response across both public and private sectors. From illicit drug markets and sophisticated financial crime to environmental offences, cybercrime, and the rapidly growing illicit tobacco trade, the report reveals just how widespread and costly organised crime has become.

Finally, we unpack why the authors believe even these enormous figures are conservative, and what this means for policymakers, industry, and communities trying to curb the influence of organised criminal networks. Tune in for a clear, compelling look at the hidden economic drain shaping Australia’s security and economy.

In this episode, we unpack Transparency International UK’s 2025 assessment of how the UK’s Overseas Territories are progressing—or failing to progress—on creating accessible registers of beneficial ownership. These registers are meant to shine a light on who really owns companies, a crucial step in fighting global illicit finance. But as the report reveals, the reality is far more complicated.

We explore how opaque corporate structures in jurisdictions like the British Virgin Islands have enabled massive corruption and money-laundering schemes, and why the Overseas Territories’ shift from fully public registers to more restrictive “Legitimate Interest Access Registers” (LIARBOs) represents a major setback for transparency. You’ll hear which territories scored poorly due to slow implementation, limited access, and processes that could even tip off criminals—and why Montserrat stands out as the lone success story with a completely public, free-to-use register.

Finally, we look at the report’s call for the UK government to step in, apply real pressure, and even consider constitutional measures to ensure these territories live up to their commitments. If you want to understand the global stakes of beneficial ownership transparency, this episode gives you the full picture.

In this episode, we break down the major political agreement just reached by EU lawmakers on two transformative pieces of legislation: the Payment Services Directive 3 (PSD3) and the new Payment Services Regulation (PSR). Together, these measures set the stage for a modernized, fairer, and more transparent financial ecosystem across Europe.

We explore how the deal aims to crack down on fraud, introduce full reimbursement for victims of impersonation scams, and hold payment providers accountable for transfers sent to mismatched account details. You’ll also hear how the regulations strengthen consumer access to cash, protect open-banking innovators from discriminatory bank practices, and require crystal-clear transparency on fees and exchange-rate margins before any payment is made.

If you want to understand how these upcoming changes will shape the way Europeans pay, bank, and protect their money, this episode breaks it all down in plain language. Tune in!

In this episode, we explore the UK Financial Conduct Authority’s evolving approach to crypto regulation, drawing on key excerpts from the FCA’s mandate and a keynote speech by Executive Director David Geale.

We break down the FCA’s vision for building a trusted, competitive, and innovative market for cryptoassets and stablecoins—one that doesn’t simply copy traditional finance rules but instead reflects the unique challenges of decentralised technology. You’ll hear how the regulator is shaping a bespoke, proportionate framework, supported by active industry consultations and a new stablecoin-focused cohort within the FCA’s Regulatory Sandbox.

We also discuss what’s coming for crypto firms: mandatory authorisation, high standards, and rigorous expectations designed to ensure strong consumer protections once the new regime goes live. And finally, we look at the UK’s commitment to working alongside international partners to influence and align global standards for digital asset oversight.

If you want clarity on where UK crypto regulation is headed and what it means for the industry, this episode is your guide.

In this episode, we examine the story behind a major regulatory enforcement action in Luxembourg’s financial sector: the €283,000 administrative fine imposed on Allianz Global Investors’ Luxembourg branch for persistent anti-money laundering (AML) and counter-terrorist financing (CFT) failures.

We unpack the findings of a 2018 CSSF inspection that uncovered serious gaps—including the omission of more than 1,000 investors from the branch’s AML/CFT risk analysis and weak due-diligence documentation for politically exposed persons (PEPs). Although AllianzGI maintains that the issues were procedural and have since been fully corrected, the case highlights a broader industry trend in which firms delay critical compliance work to focus on short-term business priorities.

We also discuss the timeline: the penalty issued in 2022 and upheld in court in 2025—evidence of the regulator’s determination to confront systemic weaknesses in financial controls.

Tune in for a clear look at what this case means for compliance culture, supervisory expectations, and the financial industry’s ongoing struggle to balance growth with robust risk management.

Full Episode on Apple Podcast

In this episode, we break down a sweeping Statutes Amendment Bill—an omnibus legislative package crafted to update and refine large sections of the existing legal framework. Spanning 42 separate parts, the Bill reaches across a wide array of principal Acts, making it one of the most comprehensive housekeeping efforts in recent legislative cycles.

We walk through the key areas of reform, from environmental and conservation laws to updates in anti-money laundering and counter-terrorism financing rules. You’ll also hear about notable changes to the Defence Act 1990, important adjustments to personal data protections under the Privacy Act 2020, and targeted revisions to land and criminal justice legislation.

This episode serves as your guided tour through the Bill’s catalogue of amendments—what’s being inserted, updated, or replaced—and why these technical but essential changes matter for maintaining a coherent, modern, and effective statute book.

In this episode, we explore the complex and often uncomfortable world of risk management, especially for those with a perfectionist mindset. Unlike compliance, which operates with clear rules and definitive answers, risk management lives in the grey areas of uncertainty. We discuss why business growth actually depends on embracing this uncertainty rather than trying to eliminate it. The episode highlights how effective risk management is about building resilience—making informed decisions with incomplete information while staying open to opportunities that emerge from the unknown.

In this episode, we dive into Switzerland’s heated debate over proposed anti-money laundering (AML) reforms driven by FATF recommendations. Lawmakers are pushing back against stricter rules for lawyers, advisers, and trusts, arguing that excessive regulation could weaken Switzerland’s financial competitiveness and autonomy. This resistance comes despite warnings from the Federal Department of Finance that failing to act could harm the country’s international credibility. We explore how these political tensions have led to key exemptions, including non-profit organisations and certain trust structures being left out of a new transparency register. The debate is unfolding at a critical time, as global competition intensifies—particularly with Hong Kong expected to overtake Switzerland as the world’s leading cross-border wealth management hub by 2025.

In this episode, we examine the corruption and money laundering case involving Georgia’s former Defense Minister, Juansher Burchuladze. According to investigators, Burchuladze abused his authority in 2023 by orchestrating a non-competitive procurement of medical equipment, inflating prices for personal and family gain, and causing more than 1.3 million GEL in losses to the Ministry of Defense. To conceal these illicit funds, he and his wife allegedly purchased property in Spain in 2025 using unsubstantiated income, later creating a fake real estate agreement in Tskneti to disguise the money’s origin. Investigators also discovered that Burchuladze failed to disclose the Spanish property in his asset declaration, effectively laundering 1.5 million GEL. Facing charges that carry a potential 12-year prison sentence, the Prosecutor’s Office is seeking his pre-trial detention as the investigation continues.

In this episode, we cover the recent case of Dutch neobank Bunq, which has been fined €2.6 million by the Dutch central bank for repeated failures in its anti-money laundering (AML) controls. Despite prior warnings and interventions, Bunq reportedly fell short in investigating suspicious transactions and applying adequate scrutiny to certain customers across multiple cases. This enforcement action reflects a broader wave of heightened regulatory scrutiny affecting both traditional banks and fintechs in the Netherlands. While Bunq is challenging the fine and cites ongoing technological improvements, the case highlights the difficult balance digital-first banks must strike between rapid innovation and strict compliance standards. With the outcome of Bunq’s objection still pending, this serves as a strong reminder to the fintech industry: robust AML systems are not optional—they’re essential.

In this episode, we examine the ongoing criminal investigation into Roman Abramovich, former owner of Chelsea FC, led by Jersey authorities. The probe focuses on allegations of corruption and money laundering tied to the origins of Abramovich’s wealth, particularly his multibillion-dollar sale of oil and gas giant Sibneft in 2005. Swiss courts have ordered the release of key banking documents to assist investigators, shedding light on the complex movement of funds across offshore entities and accounts with limited economic transparency. The investigation also looks into potential sanctions breaches related to asset transfers around the time Abramovich was sanctioned following Russia’s invasion of Ukraine. While Abramovich denies any wrongdoing, Swiss judges have determined there is sufficient evidence to continue the inquiry, marking a significant development in the international fight against financial crime.

In this episode, we introduce the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), the European Union’s new decentralised agency designed to harmonise and strengthen AML/CFT supervision across member states. We explore AMLA’s core functions, including direct oversight of high-risk financial entities, coordination of national financial intelligence units (FIUs), and the development of common regulatory standards. The discussion highlights how AMLA seeks to close gaps and inconsistencies in national supervision, ultimately boosting the EU’s effectiveness in fighting financial crime. We also cover its establishment timeline and share an important warning: AMLA will never contact individuals directly for financial information or issue personal fines, helping citizens avoid scams while the agency takes shape.

In this episode, we unpack the multifaceted world of dormant accounts—what they are, the risks they pose, and how they’re managed across different contexts. We explore best practices for identifying and securing inactive accounts, from fraud prevention to working with executors, while addressing potential risks like identity theft, unexpected fees, and credit score impacts. We highlight the UK’s Dormant Assets Scheme, a voluntary initiative aimed at reuniting people with their forgotten financial assets or redirecting them to social and environmental causes. The episode also examines the role of dormant accounts in fraud detection, with sudden reactivation or large transactions serving as potential red flags, and stresses the need for long-term monitoring strategies. Finally, we discuss the critical importance of identity verification in safeguarding dormant accounts, protecting savings, and ensuring access to compensation schemes.

In this episode, we cover a recent enforcement case from the UK’s Financial Conduct Authority (FCA) involving the conviction of Daniel Pugh, who ran the £1.3 million Imperial Investment Fund—a Ponzi scheme that defrauded 238 investors. Largely promoted through Facebook, the scheme lured victims with promises of unrealistic daily, weekly, and annual returns. We discuss the charges brought against Pugh, including conspiracy to defraud and breaches of the Financial Services and Markets Act 2000 for unauthorised regulated activity and unlawful promotions. The FCA has reaffirmed its commitment to tackling financial crime and will now pursue confiscation proceedings to recover the illicit profits from this case.

The U.S. Department of Justice press release details the case of James E. Monroe Jr., who pleaded guilty to money laundering in the Southern District of West Virginia. Monroe concealed assets during bankruptcy proceedings, including a sports card collection and the sale of his house. He faces a potential 20-year prison sentence and significant fines. The FBI and the U.S. Trustee Program investigated the case, and the U.S. Attorney's Office is prosecuting. The press release provides contact information for the Southern District of West Virginia U.S. Attorney's offices and resources for staying connected with the department.

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The "Global Cybersecurity Outlook 2025" report from the World Economic Forum, in collaboration with Accenture, examines the escalating complexity of the cyber landscape and its implications. It highlights compounding factors such as geopolitical tensions, intricate supply chains, rapid technological advancements, and regulatory proliferation, all intensified by a widening skills gap. The report underscores a growing cyber inequity, with smaller organisations struggling to maintain cyber resilience compared to larger ones. It also analyses how cybercrime sophistication is evolving, particularly with the rise of AI-powered attacks, and explores vulnerabilities in critical infrastructure and the impact of emerging technologies. The document presents strategic insights and calls for greater collaboration between public and private sectors to navigate these challenges and foster a more secure and equitable digital ecosystem. Furthermore, it examines the importance of proactive risk management, cyber insurance, and addressing the skills gap to enhance overall cyber resilience.

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In this episode we are discussing a document by Krzysztof Gogol, (a PhD Candidate, University of Zurich Co-founder DeFi AM) covering the convergence of traditional finance (TradFi) and decentralised finance (DeFi) through tokenised assets. The presentation highlights how tokenisation is growing, with projections reaching $15 trillion by 2030, and how DeFi can enhance tokenisation by providing liquidity and efficient markets. Project Guardian is mentioned as an industry initiative establishing guidelines and standards for DeFi integration, while projects such as Mariana, Rialto and Mandala by BIS, MAS and central banks explore DeFi-based cross-border FX. The integration of AI into DeFi is explored for optimising AMM management, lending settings, and even predicting market manipulation, as illustrated by a University of Zurich research project. Institutions are actively exploring digital assets and working with policymakers to merge the efficiencies of TradFi and DeFi, despite current challenges.

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A presidential Executive Order from January 2025 outlines a new national security policy. The order aims to designate international cartels and transnational organisations like Tren de Aragua and MS-13 as Foreign Terrorist Organizations or Specially Designated Global Terrorists. This designation reflects the perception that these groups pose an extraordinary threat to US national security, foreign policy, and the economy, exceeding that of traditional organised crime. 

The order establishes a process for relevant Secretaries to make recommendations regarding these designations. It also directs preparations for implementing the Alien Enemies Act should qualifying incursions against US territory occur. Ultimately, the policy seeks to eliminate these organisations' presence in the US and their ability to threaten its security.

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Vietnam is establishing a comprehensive legal framework for data governance, recognising data as a key national asset. The National Assembly passed the Law on Data in November 2024, with draft decrees released in early 2025 to implement the law's provisions. These regulations aim to balance national security, economic growth in the digital sphere, and personal data protection. The draft decrees establish stricter compliance for organisations handling Core or Critical Data, impacting data service providers and establishing guidelines for mandatory data provision to state authorities. Businesses must assess their data practices and prepare for new regulatory expectations, including risk assessments and potential government approvals for data transfers. This framework will also establish and regulate data exchange platforms to promote innovation and R&D.

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This episode explores the intricate regulatory landscape facing crypto-asset service providers (CASPs) in the EU. While MiCAR provides a specific framework for crypto-assets, CASPs must also contend with existing financial regulations. MiFID II applies to tokenised securities and crypto derivatives, whilePSD2 governs electronic payment services related to crypto transactions. 

DORA focuses on cybersecurity and operational resilience, mandating strong protections for CASPs. Furthermore, AML regulations, including the Travel Rule, require CASPs to collect and verify transaction data to prevent illicit activities.

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The Markets in Crypto-Assets Regulation (MiCAR) introduces a significant regulatory framework for crypto businesses operating within the EU. This legislation aims to foster market stability, protect consumers, and encourage innovation by harmonising crypto regulations across all member states. Crypto-Asset Service Providers (CASPs) and stablecoin issuers face increased compliance burdens regarding authorisations, capital requirements, and operational standards. MiCAR introduces passporting rights for authorised CASPs, allowing them to operate across the EU with a single licence, reducing fragmentation and facilitating expansion. The regulation also strengthens market integrity with stricter rules against market abuse, including insider trading and market manipulation. While posing challenges, MiCAR offers opportunities for growth through regulatory clarity, increased investor confidence, and a structured environment for tokenisation and decentralised finance.

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MiCAR (Markets in Crypto-Assets Regulation) establishes a unified framework for regulating crypto-assets across the EU, moving beyond anti-money laundering to encompass market integrity and consumer protection. It defines rules for issuers of e-money tokens (EMTs), asset-referenced tokens (ARTs), and other crypto-assets, as well as crypto-asset service providers (CASPs). These entities must obtain authorisation and comply with prudential, operational, and governance requirements. Phased implementation begins in June 2024, with full compliance expected by July 2026, although transitional provisions exist for existing CASPs. 

MiCAR seeks to balance innovation with risk management by providing regulatory certainty, enhancing consumer protection, and mitigating financial stability risks in the crypto market. The harmonised framework aims to position the EU as a leader in global crypto regulation.

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Before MiCAR, the European Union grappled with inconsistently applied crypto regulations, primarily focused on anti-money laundering, leading to a fragmented market. This regulatory divergence allowed for arbitrage, burdened businesses, and failed to adequately protect consumers from fraud and market failures, exemplified by the FTX collapse. The absence of unified rules fostered financial instability, with inadequate oversight of risky practices. Recognising these shortcomings, EU policymakers introduced MiCAR to establish uniform rules, provide legal certainty, enhance investor protection, and reduce regulatory arbitrage across member states.

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The House of Lords Financial Services Regulation Committee produced a report examining the Financial Conduct Authority's (FCA) consultation CP24/2, which proposed publicising enforcement investigations earlier. The report highlights concerns from the financial sector that early announcements could damage firms' reputations and undermine the UK's competitiveness. 

The Committee scrutinised the FCA's justification for changing its approach, the proposed "public interest framework," and the lack of a cost-benefit analysis. While acknowledging the FCA's revised proposals and engagement with stakeholders, the report expresses reservations about the practicality and fairness of the new framework. The Committee urges the FCA to address outstanding concerns, particularly regarding consistency, proportionality, and potential impacts on market stability and international competitiveness, or reconsider implementing the changes. Ultimately, the report serves as a critical assessment of the FCA's regulatory approach and its potential consequences for the financial services industry.

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The UK's Financial Conduct Authority (FCA) has expressed concerns about banks' insufficient integration of Consumer Duty principles. They suggest that banks are not adequately embedding these principles across their operations. Instead, reliance is placed on risk and compliance teams to identify breaches. This indicates a failure to cultivate a company-wide culture that prioritises consumer interests. The FCA's warning suggests a need for banks to proactively promote the Consumer Duty.

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An example of a conflict during a SOC 2 audit finding discussion and analyses how it escalated. It highlights the importance of understanding differing perspectives, involving a neutral third party, and taking time to cool down before responding. The author suggests that emotional reactions may stem from unseen personal issues and encourages empathy. The core message centres around de-escalating conflicts in professional settings by seeking to understand and avoid taking things personally.

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The Global AI Law Snapshot compares AI governance across the EU, China, and the USA. It focuses on legal instruments impacting organisations that develop and use AI. The document examines the presence of comprehensive and narrow AI laws in each region. While the EU has the comprehensive AI Act, China is developing a national AI law, and the US relies on a patchwork of federal and state regulations. The snapshot also touches on specific laws related to AI fairness, data, and algorithmic governance in each jurisdiction. This analysis covers 13 critical themes to help businesses navigate the complex landscape of AI compliance.

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The Financial Crimes Enforcement Network (FinCEN) has fined Brink's Global Services USA £29.2 million for wilful violations of the Bank Secrecy Act (BSA). Brink's failed to implement adequate anti-money laundering (AML) controls, allowing substantial currency shipments across the Southwest Border on behalf of risky organisations. Specifically, Brink's did not register as a money services business, establish an effective AML program, or report suspicious activity. This negligence exposed the U.S. financial system to a greater risk of money laundering. In addition to the fine, Brink's will undergo an AML program review as a result of its actions. This marks FinCEN’s inaugural enforcement action against an armoured car firm.

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In this episode, we dive into the world of cryptocurrency and financial crime, exploring key insights from a training manual developed by COPOLAD III and endorsed by the CFATF. We break down how cryptocurrencies like Bitcoin, Ethereum, and Monero are used in money laundering and discuss the challenges law enforcement faces in tracking illicit transactions.

We also explore investigative techniques, including blockchain analysis tools, international cooperation, and the role of Virtual Asset Service Providers (VASPs). Plus, we highlight obfuscation methods like mixers, privacy coins, and layer 2 solutions that criminals use to cover their tracks. Finally, we share expert recommendations on strengthening law enforcement capabilities and enhancing global collaboration in the fight against crypto-related financial crime.

Tune in for a deep dive into the evolving landscape of cryptocurrency investigations!

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This episode covers a research paper which assesses money laundering in Iran's economy from 1995 to 2022. Employing a novel combined method based on the capital flight approach, the study estimates a total of $553 billion laundered, averaging $20 billion annually. The highest amount occurred in 2011 ($55 billion), while the lowest was in 2001 ($4.8 billion). The findings highlight the significant role of trade misinvoicing and underscore the challenges of measuring money laundering in countries facing information limitations and sanctions. The research contrasts its methodology with previous studies in Iran and internationally.

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This White House fact sheet from February 2025 details President Trump's renewed "maximum pressure" campaign against Iran. The policy aims to prevent Iran from acquiring nuclear weapons, neutralise its terrorist network, and counter its aggressive weapons development. This involves reinstating stringent economic sanctions, pursuing legal action against Iranian operatives within the US, and cooperating with allies to reimpose international sanctions. The plan is presented as fulfilling a 2020 presidential commitment to end Iran's threatening behaviour. The ultimate goal is to eliminate Iran's nuclear ambitions and curtail its global influence.

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The Isle of Man Financial Services Authority announced that MONEYVAL, a committee of the Council of Europe, will conduct an on-site evaluation of the Island's anti-money laundering (AML) and counter-terrorist financing (CFT) regime in October 2026. This sixth-round evaluation will have stricter compliance standards, demanding substantial evidence of the regime's effectiveness. Preparations are underway, involving government agencies and the private sector, whose support is deemed crucial for a positive outcome. The evaluation's results will significantly impact the Isle of Man's economic success and international reputation. LinkedIn posts highlight the importance of AML compliance and the CAMS certification.

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We are covering recent ESMA supervisory document which offers guidance to National Competent Authorities (NCAs) on the authorisation of Crypto-Asset Service Providers (CASPs) under the Markets in Crypto-Assets Regulation (MiCA). It outlines a risk-based approach to authorisation, detailing factors like size, complexity, and cross-border activity that warrant increased scrutiny. The briefing also provides guidance on substance and governance, outsourcing, and the fit and proper assessment of CASP applicants. Finally, it addresses business plan requirements and procedures for notifications of MiCA services. The document aims to ensure consistent and harmonised authorisation practices across the EU.

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This episode discusses the European Parliamentary Research Service (EPRS) which examines the European Commission's proposed directive on combating corruption. The directive aims to create minimum standards for criminalising corruption across the EU, updating fragmented legislation and incorporating international standards, particularly from the UNCAC. The EPRS briefing details the legislative process, including Parliament and Council positions, and analyses stakeholder views, highlighting areas of debate such as the scope of offences, sanctions, and the subsidiarity principle. It also assesses the potential economic benefits of stronger anti-corruption measures and the existing, inadequate EU framework. Finally, it notes that the new Parliament must confirm its position before negotiations can begin.

A joint investigation reveals how US and EU shipping companies have profited handsomely from selling older oil tankers, which subsequently joined a "shadow fleet" facilitating Russia's oil exports despite sanctions. This fleet, potentially involved in espionage, uses vessels re-flagged and re-named in countries without sanctions against Russia. The investigation highlights a lucrative resale market, with Greek companies particularly implicated, earning billions. Although the EU mandates reporting, it lacks the authority to prevent these sales, enabling hundreds of Western-owned vessels to participate in circumventing sanctions. The lack of oversight and Western insurance further exacerbates the issue.

This episode catalogs Euronext's investor relations, compliance, and corporate governance services. It covers software solutions for insider list management and whistleblowing reporting, ESG and investor engagement advisory services, and an eight-step compliance strategy focusing on risk assessment, employee training, and continuous monitoring. The article highlights severe financial penalties for non-compliance with regulations like MAR and promotes Euronext's ComplyLog software as a streamlined compliance solution.

This episode discusses an article from Sport in Society examines the ownership structures of English Premier League football clubs, analysing their use of legal entities and offshore jurisdictions. The authors argue that these complex structures obscure beneficial ownership, increasing the risk of illicit financial activity, such as money laundering. They propose that the new UK independent football regulator should enhance oversight of club ownership to mitigate these risks. The research uses data from the ORBIS database and other sources to identify prevalent enabling conditions for financial crimes within EPL ownership structures, highlighting the need for stricter due diligence and transparency. The authors conclude by suggesting improvements to the Owners’ and Directors’ Test and calling for greater collaboration between football regulators and tax authorities.

This episode covers a recent paper from the European Data Protection Board (EDPB) that examines the interplay between data protection and competition law within the EU. It highlights the increasing importance of personal data in business models and argues for greater cooperation between data protection and competition authorities to ensure coherent and effective regulation. The paper analyses how concepts in both legal fields interrelate, using the Meta v Bundeskartellamt case as a key example, and proposes ways to improve cooperation between authorities, including establishing dedicated teams and developing mutual understanding of regulatory frameworks. The EDPB stresses that such cooperation is sometimes mandatory under EU law and beneficial for both individuals and businesses. Ultimately, the paper advocates for a more synergistic approach to ensure the effective protection of individuals and the proper functioning of competitive markets.

Discussing a Consent Order which is issued jointly by the Federal Deposit Insurance Corporation (FDIC) and the Oklahoma State Banking Department to the Bank of Vici. The order addresses concerns about unsafe or unsound banking practices and regulatory violations identified by the agencies. To rectify these issues, the Bank of Vici is mandated to improve its capital ratios, enhance board oversight, strengthen management and staffing, implement robust succession planning, upgrade information technology systems, bolster its anti-money laundering program, and address classified assets. Further requirements include developing comprehensive loan policies, an allowance for credit losses policy, a loan review program, and a strategic plan. The Bank is also restricted from paying cash dividends without prior consent.

This European Central Bank decision outlines rules for non-bank payment service providers (NB-PSPs) accessing Eurosystem payment systems and central bank accounts. Key aspects include establishing non-discriminatory access criteria, setting maximum holding limits for funds in these accounts to prevent misuse, and specifying penalties for non-compliance. The decision clarifies that central banks will not offer safeguarding accounts to NB-PSPs and addresses the transition of existing NB-PSP connections to a direct participation model in TARGET. A review process is included to ensure the rules remain appropriate, and the decision takes effect on 9 April 2025. Finally, the document defines key terms and lays out specific procedures and timelines for implementation.