February 17 - The head of MEAF's Financial Intelligence Unit said on Sunday that members of the large ring had provided services to money launderers in Iran with a focus on the country’s lucrative mobile phone market. Hadi Khani said that the group had a turnover of over 500 trillion rials (more than $500 million) when the Iranian police discovered its activities.

February 17 - With worldwide authorities tightening anti-money laundering (AML) regulations, the fintech sector is poised for a pivotal year in 2025. Financial watchdogs’ increased vigilance mixed with evolving threats from sophisticated financial criminals calls for fintech companies to act early to stay compliant. Ignoring these changes in regulations not only exposes businesses to heavy fines but also jeopardizes their capacity to thrive in a competitive market where compliance is turning into a must for partnerships and growth.

February 17 - The Australian Transaction Reports and Analysis Centre (AUSTRAC) has revealed that it took action on 13 remittance and crypto providers and is reviewing over 50 providers. AUSTRAC CEO Brendan Thomas said two other providers had conditions placed on their registrations after failing to meet requirements before the deadline. As a result, they are now on notice. Failure to meet conditions may result in suspension or cancellation of their registrations. Three other entities that were refused registration no longer operate in Australia.

February 16 - In response to Ottawa’s pledge to tackle fentanyl-linked money laundering—including the appointment of a “fentanyl czar” and new intelligence-sharing initiatives with the United States—The Bureau is reposting this February 2024 investigation estimating tens of billions, potentially several hundred billion, laundered through Vancouver and Toronto real estate via underground banking networks tied to China and global narcotics trafficking, including fentanyl.

February 13 - FINTRAC announced today that it has imposed an administrative monetary penalty on Argosy Securities Inc. Following a compliance examination, this independent wealth management firm in Richmond Hill, Ontario, considered a securities dealer, was imposed an administrative monetary penalty of $66,000 on September 12, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.