Scion Roundup (13th-23rd September 2025)

Policy

No significant policy updates were reported this week. Compliance professionals should continue to monitor ongoing regulatory discussions and potential legislative changes that could impact AML frameworks globally.

Enforcement

- The National Crime Agency (NCA) has been active in several enforcement actions:

  - A pilot involved in cocaine trafficking has been sentenced to nine years in prison.

  - A Colombian national received a jail sentence for their role in a plot to import over half a tonne of cocaine.

  - A former footballer was sentenced following a cash handover investigation conducted by the NCA and Police Scotland.

  - A significant seizure of ketamine, valued at approximately £17 million, occurred in Merseyside.

  - Bank of America Securities has agreed to pay $5.56 million to settle allegations of market manipulation, highlighting ongoing regulatory scrutiny in financial markets.

  - Canadian police have successfully recovered $56 million in cryptocurrency, marking the largest crypto seizure in the country's history. This operation underscores the increasing capability of law enforcement agencies to tackle complex financial crimes involving digital assets.

Sanctions

No new sanctions developments have been reported this week. Compliance teams should remain vigilant and ensure they are up-to-date with existing sanctions lists to prevent inadvertent violations.

Crypto

- No significant developments in the crypto sector were noted this week.

- The significant crypto seizure by Canadian authorities highlights the ongoing challenges and risks associated with digital currencies. This case exemplifies the necessity for enhanced due diligence and monitoring within the crypto space. Financial institutions should review their crypto-related AML policies to ensure they are equipped to identify and mitigate potential risks.

Industry Moves

- Alexander Resch, Head of Financial Crime at Europol, is scheduled to speak at the International Anti-Financial Crime Summit 2025, underscoring Europol's ongoing commitment to combatting financial crime on an international scale.

- Adina Ezekiel has joined Squire Patton Boggs as a partner in their white-collar practice, expected to enhance the firm's capabilities in handling complex financial crime and compliance matters.

Other

- Interpol is set to promote its 'I-Checkit' Customer Due Diligence (CDD) system, aiming to enhance verification processes within financial institutions as part of broader efforts to strengthen global AML frameworks.

- WorkFusion has successfully raised $45 million to advance its development of artificial intelligence agents focused on financial crime compliance, highlighting the growing reliance on AI technologies.

- AML Intelligence has joined the 'World News Day 2025' campaign, supporting fact-based journalism, which is crucial in the fight against financial crime.

- There have been calls for the release of records related to a bribery investigation involving Tom Homan, a former border czar under the Trump administration, reflecting ongoing challenges in ensuring transparency and accountability in public office.

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