Welcome to our weekly newsletter that provides you with the most recent updates and insights regarding AML, financial crime compliance, and emerging risks.

This week we begin with Thai law enforcement having arrested five suspects in connection with a cryptocurrency scam worth USD 27 million, signaling their commitment to combat fraudulent activities in the crypto space. Moving on, the Enforcement Directorate (ED) has issued summons to two Kerala politicians, a CPM MLA, and the Congress state chief, in separate cases related to financial irregularities.

Furthermore, we shed light on the Department of Justice, wherein the former CEO of a financial services firm has admitted guilt in a conspiracy involving a USD 150 million investment fraud. In another significant story, an accomplice of the Cryptoqueen has been sentenced to 20 years in prison for their role in a cryptocurrency scam, adding to the legal fallout from the scheme.

Moving forth billionaire investor Mark Cuban falls victim to a USD 870,000 cryptocurrency scam, emphasizing the vulnerability of even high-profile individuals to crypto frauds. Lastly, the Wildenstein art dynasty faces a tax trial in France, once again navigating legal challenges related to their financial affairs and tax obligations.