The FINTRAIL REGCAP provides clear, accessible insights into the financial crime regulatory landscape, helping you stay informed and ahead of the curve. REGCAP is now monthly, giving you a sharper, more timely view of what’s changed and what it means for your firm.
This edition covers:
🌍 Global: FATF’s new report on hawala and underground banking shows how informal value transfer is increasingly blending with digital payment rails and crypto. FATF has also published a report on gaming and gambling risks with new risk indicators. Plus 5th round Mutual Evaluation Reports for Canada and Turkey, and an Egmont Group report on how FIUs use strategic intelligence.
🇬🇧 UK : The FCA’s multi-firm review finds money mule activity shifting toward e-money institutions and challenger banks. The Government publishes its AML and Asset Recovery Strategy 2026–2029, backed by £520m from the Economic Crime Levy. The FCA opens an enforcement investigation into Euro Exchange Securities UK, and the first ECCTA prosecutions target directors who failed to verify their identity. Also covered:
OFSI’s £4.7m fine against Citibank NA London Branch, and new OFSI FAQs on frozen accounts and Iranian banks
JMLSG’s final Part I amendments
The City of London Police’s first Report Fraud Annual Assessment, and the NCA’s SARs in Action Issue 37
The Home Office call for evidence on unauthorised fraud, and a UK–Cambodia agreement to tackle scam centres
Revolut’s data breach via government agency impersonation
⚖️ EU: Europol and Spanish police dismantle “Dubai Bank,” an underground banking network laundering more than €300m a year. AMLA closes consultations on ongoing monitoring and suspicious activity reporting standards. The European Commission opens infringement proceedings against 18 Member States over gaps in transposing AMLD6’s beneficial ownership provisions.
🇺🇸 US: OFAC designates VTB Bank for facilitating Iran’s sanctions evasion. It also designates Xinbi Guarantee as a transnational criminal organisation behind cyber scam operations. Meanwhile, FinCEN’s latest alert links nearly $13bn in suspicious activity to overseas “pig butchering” scam centres.
What other publications and regulatory changes caught your eye last month? If you are interested in speaking to the FINTRAIL team about any of the items in the REGCAP, have any ideas for inclusion, or want to discuss any other financial crime topic, please get in touch