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By Global RADAR 15 July, 2025

Singapore Levies Major Penalties on Nine Banks in Billion-Dollar Money Laundering Case, Falls Short on Personal Liability

Last week, Singapore’s central bank, the Monetary Authority of Singapore (MAS), imposed collective fines totaling a whopping S$27.45 million ($21.5 million USD) against a total of nine financial institutions, a list including notable names such as UBS, Citibank, and Julius Baer Group, in connection with a major money laundering scandal that rocked the city-state in […]

By Global RADAR 8 July, 2025

U.S. Treasury Announces New Sanctions to Disrupt Iranian Oil Trade, Terror Group’s Financial Backing

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has recently announced two significant sets of sanctions targeting illicit financial networks tied to Iran and its ally in Lebanese militant group Hizballah, reinforcing the U.S. government’s commitment to curbing destabilizing activities in the Middle East. These actions, taken during a ceasefire in […]

By Global RADAR 30 June, 2025

Treasury Issues Historic Orders to Counter Fentanyl Trafficking, Prompting Response from Mexico

On June 25, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) – the bureau responsible for collecting and analyzing financial information to combat money laundering, terrorism financing, and other financial crimes both domestically and abroad – issued unprecedented orders targeting three Mexico-based financial institutions for their alleged roles in laundering money […]

By Global RADAR 23 June, 2025

AI-Powered Money Laundering: A Growing Threat to Financial Integrity

As the golden age of technological development continues to unfold and artificial intelligence (AI) continues to achieve mainstream utilization by businesses and individuals alike, the growth of AI-backed protocols has already contributed to significant improvements in workflow and operational efficiency across the financial realm. With AI now being used by financial institutions to better meet […]

By Global RADAR 16 June, 2025

Weekly Roundup: OFAC, DOJ Levy Major Penalties for Sanctions Shortcomings

As the global crusade on financial crime continues worldwide, several significant developments in anti-money laundering (AML) and counter terrorism financing (CFT) took place domestically last week, underscoring enforcement efforts taken by the U.S. government as part of its intensified focus on sanctions compliance and illicit financial activities, particularly involving foreign entities seeking to exploit vulnerabilities […]