Dear AML professionals
Another week has come to an end, bringing with it key developments and insights in the world of financial crime compliance.
Brand Partnership
BioCatch, a global leader in behavioral intelligence, reports a 65% increase in global scam activity between 2024 and 2025, including a 63% rise in romance scams and a 10x surge in SMS phishing attacks.
Explore the full report for detailed insights helping AML professionals stay ahead of evolving fraud and financial crime trends.
Compliance as a Competitive Advantage
Financial crime compliance is still seen by many as a cost center. Something to satisfy regulators and avoid fines.
But that view is at least outdated - and increasingly risky.
Strong compliance is becoming a strategic differentiator. The firms that get this have already a competitive advantage.
Because strong controls build trust with regulators, partners, and clients. They reduce friction in onboarding. They create confidence in business continuity. They make it easier to expand into new markets, launch new products, or engage with high-value customers who expect more scrutiny.
On the other hand, weak compliance slows everything down. It invites regulatory intervention, damages reputation, and erodes internal morale. In the worst cases, it locks you out of growth entirely.
Is it true though in real life? In short, yes!
Banks are offboarding fintechs that can’t demonstrate control. Regulators are escalating expectations, especially around governance, data, and responsiveness. And investors are asking tougher questions about risk exposure.
So yes, compliance is a regulatory obligation.
But done well, it’s also a license to grow and a long-term advantage in a world where trust is harder to earn, and easier to lose.
With this thought, I am wishing you a great weekend!
Regards
Anna
Here are this week’s AML/CFT highlights:
AUSTRAC warns payment platforms on child sexual exploitation risks
AUSTRAC initiated a supervisory campaign that found multiple customers of online payment platforms are likely making child sexual exploitation payments across several online payment businesses. Failings included weak TM rules, inadequate SMRs, and poor identification of high‑risk customers.
The UK Gambling Commission imposed £650,000 fine for online operator Videoslots Limited
The operator’s systems failed to enforce deposit limits effectively, allowing customers to exceed set thresholds and experience significant losses without timely intervention. AML controls were compromised by an over-reliance on automated risk scoring, which failed to flag high-risk behaviours, such as one customer depositing over £75,000 via digital vouchers and dispersing funds across multiple accounts without adequate checks.
FINTRAC issued penalties for AML violations on 5 firms
FINTRAC, the Canadian AML Regulator has imposed penalties on the following companies:
1135233 B.C Ltd operating as LeHomes Realty Premier C$149,886 for 6 violations
9321-0599 Quebec Inc also operating as Les Immeubles Star / Star Realty for 2 violations
In case you missed this week’s LinkedIn posts:
Monday 17th November: How to Build a Risk Assessment That Actually Reflects your Business
Wednesday 19th November: Most sanctions breaches don’t happen because people aren’t trying.
Friday 21st November: You may start in one professional direction and end up somewhere better
That’s all for this week. AML Cube and its associates can assist you with:
AML Compliance
Sanctions Compliance
MiCA Regulations
Cybersecurity / DORA Compliance
Visit www.amlcube.com to learn more about what we do.
Best regards,
Anna Stylianou