Global Compliance Institute

The Australian Border Force (ABF) has intercepted more than USD 2 million in counterfeit Australian and Canadian banknotes entering Queensland, marking the largest single‑importer detection in the state. Officers uncovered the fake currency across 12 air‑cargo consignments linked to the same consignee.

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a formal Notice of Fines against Shelbit General Trading L.L.C, commercially known as Shelbit or Shelbit Exchange, following continued breaches of UAE virtual‑asset regulations.

The action follows an earlier cease‑and‑desist order issued on 2 January 2025, after VARA identified that Shelbit was operating as an unlicensed virtual‑asset service provider. Despite this enforcement action, VARA’s market‑wide monitoring found that Shelbit continued to:

FinCEN has announced a record USD 125 million civil penalty against UBS Financial Services Inc. for willful and repeated violations of the Bank Secrecy Act. This is the largest BSA penalty ever imposed on a broker‑dealer, reflecting what FinCEN described as recidivist non‑compliance.

De Nederlandsche Bank (DNB) has fined ABN AMRO €8.5 million for serious and structural deficiencies in its anti‑money‑laundering controls for high‑risk customers. The regulator found that between September 2023 and September 2024 the bank failed to conduct sufficiently critical, thorough and decisive ongoing monitoring, illustrating the shortcomings through five customer files.

The U.S. Department of Justice has announced that EagleBank will pay more than $9.7 million to resolve a Bank Secrecy Act investigation after admitting it willfully failed to maintain an AML/CFT program for over a decade.