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

This week we begin with a Former Merrill Lynch broker, managing up to $1 billion, suspended and fined for breaching anti-money laundering rules, settling with an 18-month ban and $60,000 fine; Anil Chaturvedi, who left voluntarily in 2011, neither admits nor denies allegations. Then we have a piece on Swiss authorities reprimanding Lebanon’s largest bank for significant money laundering infractions, revealing unexplained payments to high-ranking political figures routed through Switzerland, amid investigations into former central bank governor Riad Salameh for alleged embezzlement and financial crimes across multiple jurisdictions..

Moving on U.S. prosecutors move to seize two NYC apartments purchased by ex-Mongolian PM with illicit mining funds, highlighting a crackdown on real estate money laundering, linking the purchases to a $68 million mining contract awarded to a company controlled by Batbold. Also, breaking news in Sam Bankman-Fried case as he was sentenced to 25 years in prison for one of America’s largest financial frauds; and ordered to forfeit $11 billion to compensate victims, Judge Kaplan deeming it a serious crime.

Moving forth in the US, prosecutors charge KuCoin and its two founders for violating anti-money laundering rules, alleging the exchange neglected to establish adequate controls since its 2017 launch, failing to prevent illicit activity or verify customer identities. Lastly, ED attaches properties worth over Rs 29 crore of Alchemist Group, led by former TMC MP K D Singh, under anti-money laundering law, linked to allegations of collecting funds exceeding Rs 1,800 crore with false promises of high returns and property investments.