Medium-HighNational Risk Rating 3 Highest Risk SectorsBanks, online gambling, TCSPs Ahead of Crucial Moneyval EvaluationCouncil of Europe compliance review The Isle of Man has released its inaugural economy-wide National Risk Assessment on money laundering, assessing the overall risk as medium-high. The report identifies banking, online gambling, and trust and corporate…
On 12 February 2026, Dutch prosecutors issued a €500,000 penalty order against the Netherlands subsidiary of Louis Vuitton. The reason: for a sustained period, the company did not maintain proper identity checks on customers who repeatedly made large cash purchases across its stores. The Dutch Public Prosecution Service stated plainly: the Know…
The National Commission for Data Protection (CNPD) of Luxembourg has fined Amazon €746 million for violating the General Data Protection Regulation (GDPR) of the EU. This decision, which ends a four-year legal battle, highlights the difficulties multinational corporations face in complying with privacy regulations. Let's examine the fine's details, the…
JPMorgan Chase has reached a tentative settlement with the sexual abuse victims of Jeffrey Epstein. One of the lead lawyers for the victims said the bank was ready to pay $290 million for resolution. JPMorgan had provided services to Epstein from about 1998 to 2013, designating him a “high risk…
High-risk businesses like banks, law firms, insurance companies, and other regulated entities must perform screenings of both new and current customers as part of the risk assessment process. These checks help make sure the business’s capital, reputation, revenue, and future are protected from illegal activities like money laundering or the…