Daily financial-crime intelligence · Updated 20 Jul 2026, 02:01 UTC
Sanctions
Mahdi Mohammad Sadeghi, a dual U.S.-Iranian national of Natick, Massachusetts, was convicted after a 14-day jury trial of conspiracy and violations related to illegally exporting electronic components to Iran.
Fraud & scams
Trader Alexis Kuperfis and his former associate Thierry Braha, active in Switzerland, were sentenced on 7 July 2026 by the Paris tribunal in proceedings pursuant to a plea agreement concluded with the National Financial Prosecutor.
Other
FINMA concluded enforcement proceedings against Swiss Fund Management AG and BZ Berater Zentrum AG for serious breaches of conduct rules under the Financial Services Act.
Money laundering
FINMA published Guidance 04/2026 supplementing its 2023 money laundering risk analysis framework for banks and FinIA institutions.
Money laundering
Former Peruvian President Alejandro Toledo stated during an appellate hearing that Odebrecht bribes totaled $45 million ($42M USD + €3M), contradicting previous judicial figures of $35M. Toledo claimed funds are held at LGT Bank in Zurich under account holder Urs Fidel Frick.
Money laundering
CHP deputy Özgür Karabat criticized Turkey's 'Varlık Barışı' (Asset Peace) legislation, characterizing it as facilitating illicit funds by allowing unregistered domestic and foreign assets to be legalized through minimal taxation.
Money laundering
French financial prosecutors brought preliminary charges against HSBC's Swiss subsidiary for conspiracy to commit offences including misuse of public money, breach of trust, and bribery of a public official. The bank was required to post €80 million in bail.
Money laundering
HSBC Holdings Plc's Swiss unit was charged in Paris in June 2026 as part of an investigation into suspicions it helped former Lebanese central bank Governor Riad Salameh embezzle funds.
Money laundering
French prosecutors filed preliminary charges against HSBC's Swiss private banking unit for alleged organized money laundering and conspiracy related to suspected $300 million embezzlement by Riad Salameh, former governor of Lebanon's central bank.
Other
FINMA concluded enforcement proceedings against Wendelspiess Partners AG for serious breaches of financial services rules.
Other
Swiss financial regulator FINMA published new guidance on June 3, 2026, explaining risk patterns it is increasingly observing in relation to the use of products in individual portfolio management in the context of escalation cases.
Fraud & scams
Money tied to notorious Russian Magnitsky tax fraud (perpetrators fraudulently extracted $230 million tax rebate from Russian treasury) slipped into Armenia's financial system unnoticed by regulators.
Fraud & scams
Transparency Venezuela documented 719 assets across 21 countries traced to corruption investigations from Venezuela (2009-2026), totaling over $3.9 billion.
Money laundering
Turkish authorities investigated Papel Elektronik Para ve Ödeme Hizmetleri A.Ş., an electronic payment company accused of facilitating illegal gambling proceeds and money laundering. Seyhan İbrahim Yıldırım listed as founder functioned as figurehead providing signatures only.
Money laundering
DOJ and CFTC filed parallel criminal and civil insider trading actions against Michele Spagnuolo, a Google software engineer based in Switzerland.
Trafficking
Two Swiss private banks, Pictet & Cie and J. Safra Sarasin, appear in a seizure request filed by Palermo prosecutors targeting the criminal proceeds of alleged Sicilian drug trafficker Giacomo Tamburello.
Money laundering
Judge Marcelo Aguinsky charged Luis Fernando Vuteff, Argentine financier, with money laundering of illicit sources conducted habitually and imposed an embargo of $5.1 million USD. Vuteff was convicted in the US (December 2024) to 30 months in prison for conspiracy to launder $1.
Money laundering
Swiss regulator FINMA launched consultation (until June 9, 2026) on partially revised AML Ordinance addressing beneficial ownership transparency, Embargo Act compliance to prevent sanctions breaches, and FATF recommendations implementation.
Swiss Federal Police (Fedpol) Annual Report 2025 disclosed investigation into Russian funds held by sanctioned Russian oligarch, described as 'one of largest cases involving money laundering for purpose of evading sanctions'.
Bribery & corruption
Le Monde published on 18 May 2026 an investigation revealing historical scandals involving the family of Maria Carolina de Bourbon-Siciles, companion of Jordan Bardella (president of the National Rally).
Fraud & scams
Geneva Criminal Court convicted a wealth manager on April 28, 2026 for breach of trust and disloyal management.
Monaco's Autorité Monégasque de Sécurité Financière fined UBS Monaco €6 million (USD $7 million) for Anti-Money Laundering failures. AMSF found UBS Monaco breached Monaco's AML obligations from 2018 to 2023, including deficiencies in Customer Due Diligence and ongoing monitoring.
Money laundering
The Paris criminal court convicted former UDI Senator Aymeri de Montesquiou on May 7, 2026 for aggravated tax fraud and money laundering.
Other
FINMA's Annual Report 2025 reveals the regulator concluded 55 enforcement proceedings in 2025 (up from 38 in 2024) and launched enforcement proceedings in 15 cases.
Russian businessman Denis Katsyv, suspected in money laundering from the Magnitsky case, withdrew approximately 6 million Swiss francs from Switzerland to his accounts abroad. Switzerland had blocked the assets for ten years as part of the tax fraud investigation uncovered by Sergei Magnitsky.
Money laundering
FINMA withdrew license of MBaer Merchant Bank AG and ordered liquidation following serious AML/sanctions compliance failures. Bank enabled clients to circumvent official asset freezes; 80% of business relationships carried increased risks, with 98% of recent assets from high-risk clients.
Money laundering
Luxembourg police raided EFG International, one of Switzerland's largest private banks, on 24 February 2026 as part of a probe into suspected money laundering, terrorist financing and alleged breaches of reporting obligations.
Fraud & scams
French authorities convicted organizers in fraud case involving Neuchâtel-based Fondation Elysium used to conceal €65 million from French tax authorities. In France, fraudsters have paid and trial of organizers concluded with convictions.
MAS imposed S$27.45M in composition penalties on 9 financial institutions (Credit Suisse, UBS, Citibank, Julius Baer, UOB, LGT Bank, UOB Kay Hian, Blue Ocean Invest, Trident Trust) for AML/CFT breaches related to August 2023 S$3B money laundering case (illicit assets from overseas scams/online…
Money laundering
OCCRP and Le Monde obtained correspondence showing FINMA investigated Reyl for 'weaknesses in the area of money laundering' and alleged failures in handling high-risk accounts.
Money laundering
The Swiss government announced intentions to strengthen its anti-money laundering laws in a bill that, if passed, would bring its financial due diligence measures closer in line with international standards. The proposal includes enhanced transparency requirements and AML obligations for advisors.
Lex Greensill, founder of collapsed Greensill Capital, banned from acting as UK company director for nine years effective June 23, 2026 following company collapse with over £1.6 billion in liabilities.
Money laundering
Ukraine's National Anti-Corruption Bureau charged former Energy Minister Herman Halushchenko with money laundering and organized crime, one day after he was detained attempting to leave the country.
Securities & markets
In the context of a pre-guilty plea appearance (CRPC) with the National Financial Prosecutor's Office, a French trader and his former business associate, notably active in Switzerland, were sentenced on July 7, 2026 to prison terms and substantial fines.
Money laundering
Swiss regulator FINMA's license revocation of MBaer Merchant Bank became legally binding in late February 2026 after bank withdrew appeal.
Other
FINMA concluded enforcement proceedings against Swiss Fund Management AG (in liquidation) and BZ Berater Zentrum AG for serious breaches of financial services rules. Investigation found SFM and BZ seriously breached duty to avoid conflicts of interest causing client detriment.
Money laundering
Jersey authorities are investigating Russian billionaire Roman Abramovich in connection with suspected money laundering, according to court records showing hundreds of millions of dollars moving through Swiss bank accounts.
FINMA concluded enforcement proceedings against Wendelspiess Partners AG (in liquidation), finding serious breaches of conduct rules governing financial services.
MAS issued prohibition orders against two former relationship managers convicted in connection with Singapore's August 2023 $3 billion money laundering case.