Hello, and welcome to episode 187 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, geopolitical pressure intensifies as the EU proposes its 19th sanctions package against Russia, featuring a full transaction ban on Russian banks and targeting LNG imports by 2027 to cripple the war economy. Meanwhile, in the United States, FinCEN has proposed delaying the critical Investment Adviser AML Rule until January 2028, granting firms additional time to prepare for compliance aimed at closing vulnerabilities exploited by illicit actors funnelling dirty money into US assets. We also examine high-stakes global enforcement, including the $750,000 fine levied against ShapeShift AG by OFAC for sanctions violations involving digital assets related to countries like Cuba, Iran, Sudan, and Syria, and global successes like Eurojust cracking a sophisticated €100 million cryptocurrency investment fraud spanning 23 countries. Finally, we explore the growing role of technology, from the UK’s new AI fraud-buster which recovered a record nearly £500 million in fraudulently claimed public funds, to mounting concerns raised by experts about how complex AI algorithms in high-frequency trading may contribute to market manipulation.

A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.