Welcome to our weekly newsletter that provides you with the most recent updates and insights regarding AML, financial crime compliance, and emerging risks.

This week begins with Allen Weisselberg, longtime CFO of Donald Trump, who could be imprisoned for tax evasion, as he testifies in a fraud trial related to job perks and tax dodging. Moving on, Bollywood actor Aftab Shivdasani falls victim to a bank KYC fraud, resulting in a loss of INR 15 million, raising concerns about online banking security.

Furthermore, we shed light on Slovakia’s ex-president who was found guilty of tax fraud in a legal case with significant implications for the country’s political landscape. In another story, Bernie Ecclestone, former Formula One CEO, pleads guilty to fraud in a legal case, marking a significant development in F1.

Moving forth The Income Tax department reveals tax evasion of approximately INR 300 billion by insurance companies and intermediaries, underscoring a significant financial irregularity. Lastly, the Enforcement Directorate (ED) seized the assets of former Maharashtra MLA Vivekanand Patil as part of a bank fraud case investigation.