Tranche 2-Ready AML compliance software.

Australia's financial intelligence regulator AUSTRAC has commenced a formal enforcement investigation into Tabcorp Holdings Ltd, citing serious concerns that the gambling giant cannot effectively identify, mitigate and manage money laundering and terrorism financing risks. The investigation scrutinises whether Tabcorp's AML/CTF program is compliant, whether it is being followed, and whether customer monitoring procedures meet regulatory standards. Separately, AUSTRAC ordered Bankstown District Sports Club to appoint an external auditor amid concerns that poker machine vulnerabilities could be exploited by organised crime.

The EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) held a major public hearing on 20 May 2026 on its draft Regulatory Technical Standards on group-wide requirements, attracting over 650 participants from Europe's financial sector. AMLA published a report warning of major structural weaknesses in the EU's AML/CFT framework, identifying growing risks linked to AI-enabled fraud, crypto-assets, instant payments and sanctions circumvention, with fragmented supervision across Member States.

The UK Financial Conduct Authority executed a coordinated enforcement operation against eight distinct locations suspected of facilitating illicit peer-to-peer cryptocurrency trading, targeting unregistered financial hubs that bypassed anti-money laundering protocols. The FCA's operation targeted operators allegedly processing high volumes of cash-to-crypto conversions without proper registration, KYC verification or Suspicious Activity Report filing, supported by a multi-agency law enforcement response. Unregistered crypto operations remain a top financial crime enforcement priority for 2026.

At the February 2026 FATF Plenary, the Financial Action Task Force added Kuwait and Papua New Guinea to its grey list of jurisdictions under increased monitoring, raising the total to 22 countries with identified AML/CFT/CPF strategic deficiencies. The FATF blacklist — High-Risk Jurisdictions Subject to a Call for Action — remains unchanged at three countries: Iran, North Korea and Myanmar. Compliance professionals must update risk frameworks accordingly, as grey-list status triggers enhanced due diligence requirements and heightened correspondent banking scrutiny.