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 the US Government sanctioning Crown Bus and 15 other for facilitating Al-Shabaab’s USD 100 million annual income flows. This is an ongoing effort to combat terror financing globally. Then we have a piece on Roman Sterlingov, Founder of Bitcoin Fog, was found guilty of multiple charges, including money laundering, money laundering conspiracy, operating an unlicensed money-transmitting business, and violations of the D.C. Money Transmitters Act. 

Moving on the EFCC, Nigeria, has set a trial date for four Abuja Cement Executives allegedly involved in N201 million fraud. Also, a N50 million bond was set for Beligetto Holding Company Limited. As well as, the UK Treasury has proposed changes to anti-money laundering regulations in a consultation paper. The amendments aim to bring all crypto asset service providers under the oversight of the Financial Conduct Authority (FCA).

Moving forth the Malaysian Anti-Corruption Commission (MACC) arrested 11 individuals suspected of involvement in a tobacco, liquor, and cigarette smuggling syndicate. The arrested individuals, including civil servants, middlemen, and company owners, were apprehended in a special operation in the Klang Valley. Lastly, the Enforcement Directorate (ED) has summoned Delhi Chief Minister Arvind Kejriwal in a second money laundering case related to alleged irregularities in the Delhi Jal Board (DJB). Kejriwal has been asked to appear before the ED in Delhi on Monday, March 18, to record his statement under the Prevention of Money Laundering Act. This marks the second instance of the ED summoning Kejriwal in a case under anti-money laundering laws.