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 EUR 100 million global scam through Whatsapp and an in-depth analysis of how the the scam works and how to be aware. Moving on, India plans to drag Canada to FATF over the inaction of Khalistani extremism and terror funding.

Furthermore, we shed light on how 5 Indian Americans allegedly laundered USD 30 million in Cash-for-Bitcoin scam in New York. In another story, Kangwon Land Inc is fined USD 2.39 million for 182 AML violations in South Korea.

Moving forth, the Australia Federal Police charged seven members of an alleged Chinese organised crime syndicate of laundering almost USD 229 million in Australia. Lastly, FATF has added EU member Bulgaria on its “grey list” of countries subject to increased monitoring over “strategic deficiencies” in their efforts to counter money laundering and terrorist financing.