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 UBS settling for USD 1.44 billion to resolve mortgage fraud charges during the 2007 financial crisis, addressing its role in the housing market collapse. Moving on, TikTok influencers were accused by Australian Tax Office of orchestrating tax evasion leading to a loss of USD 780 million in revenue.

Furthermore, we shed light on a New York investment firm CEO who was convicted of defrauding 50 investors through a multi-million dollar scheme, leading to significant financial losses. In another significant story, CBI takes action against two Ghaziabad-based companies in an INR 8.75 billion bank loan fraud case, probing allegations of financial misconduct.


Moving forth banks in Nigeria raised concerns over the financial risks posed by online gambling, with reported involvement reaching NGN 95 billion, impacting stability. Lastly, Enforcement Directorate investigates a bank fraud case involving Jalgaon jewelry firms, seizing INR 258.1 million concerning alleged money laundering activities.