Episode 215

12th January – 15th January 2026

Sanctions

UN monitoring team warns of expanding DPRK cyber‑enabled sanctions evasion

The latest Multilateral Sanctions Monitoring Team report highlights how North Korea continues to violate and evade UN sanctions by deploying illicit cyber operations and covertly placing IT workers abroad, prompting a US briefing at the United Nations which highlighted Washington’s commitment to enforcing sanctions and supporting the MSMT’s role after the previous UN Panel of Experts was dissolved. The report, which was produced by an 11‑nation coalition including the United States, Japan, South Korea, and several European partners, details ongoing DPRK activity and provides multilingual resources for member states seeking to counter these threats.

US Treasury and State Departments Designate Muslim Brotherhood Branches as Terrorist Organisations

The US Treasury has announced coordinated actions with the State Department to designate several branches of the Muslim Brotherhood as terrorist organisations, citing their involvement in violent activities and threats to regional stability. The move reflects a broader US effort to disrupt financial and operational networks linked to extremist groups, and it signals increased pressure on organisations the government views as contributing to terrorism.

Fraud

DOJ seeks forfeiture of $200K in crypto tied to “pig‑butchering” scam

Federal prosecutors in Massachusetts have filed a civil forfeiture action to recover roughly $200,000 in Tether traced to an alleged cryptocurrency investment fraud scheme which began when a victim was approached on Tinder by someone posing as a financial adviser. According to the complaint, the scammer persuaded the victim to move conversations to WhatsApp, open a trading account, and ultimately transfer more than $500,000 to what investigators believe was a fraudulent platform, with some of the funds later seized by authorities. The action is part of a broader effort to reclaim crypto proceeds from similar schemes targeting Massachusetts residents.

Money Laundering

Former Georgian PM Garibashvili sentenced to five years for money laundering

Georgia’s former prime minister Irakli Garibashvili has received a five‑year prison sentence after admitting to money laundering as part of a plea agreement, according to the prosecutor’s office. The deal included a fine of one million lari, and authorities also confiscated several million dollars seized during a search of his home. Garibashvili, who served two separate terms as prime minister and later stepped away from politics, was facing the possibility of a longer sentence before entering the plea. The case unfolds amid Georgia’s broader political tensions following the disputed 2024 parliamentary elections and subsequent unrest.

MONEYVAL Praises Poland’s Stronger Safeguards but Flags Gaps on New Technologies

Poland has strengthened protections against the misuse of non‑profit organisations for terrorist financing, but the Council of Europe’s MONEYVAL Committee reports that shortcomings remain, particularly around new technologies and crypto‑asset regulation. The follow‑up assessment notes significant progress on FATF Recommendation 8 and partial improvement on Recommendation 15, yet Poland still holds thirteen “partially compliant” ratings out of 40 standards, leaving it under enhanced follow‑up for another year.

Bribery and Corruption

GRECO urges Croatia to intensify anti‑corruption reforms

GRECO’s latest follow‑up report finds that while Croatia has made meaningful progress, fully implementing 11 of 17 anti‑corruption recommendations for its central government and police, key gaps remain, particularly around lobbying transparency, adviser vetting, post‑employment restrictions, and enforcement of the Code of Conduct. The police sector shows stronger improvement, with new integrity training, risk assessments, and anti‑corruption plans, but overall the country is still deemed not sufficiently compliant and must report further progress by November 2026.

Former NYC Mayor’s Office Official Charged in Bribery and Fraud Schemes

Federal prosecutors have charged Anthony Herbert, a former senior official in the New York City Mayor’s Office, with multiple bribery, kickback, and fraud offences for allegedly abusing his roles between 2022 and 2025. According to the indictment, Herbert accepted $16,000 in bribes to influence city contracting decisions and to steer public financial assistance payments toward a funeral home in exchange for kickbacks. He is also accused of filing false financial disclosures and fraudulently obtaining a Paycheck Protection Programme loan using a fictitious business. Herbert faces several federal charges carrying potential multi‑year prison sentences, though he remains presumed innocent unless proven guilty.

High Court Upholds Guralp Systems DPA Enforceability as Government Releases Complete Case Timeline Update

The UK government has responded to a recent High Court ruling which has affirmed that the 2019 Deferred Prosecution Agreement (‘DPA’) between Guralp Systems Ltd (‘GSL’) and the Serious Fraud Office (‘SFO’) remained legally enforceable to address a breach involving £2,069,861 in unpaid disgorged profits. The government has updated the timeline of the matter, documenting the case from its 2015 investigation launch, through the 2018 charging and 2019 acquittal of company individuals, to the eventual 2024 notification of the company’s breach. The High Court determined that the DPA did not expire on 22nd October 2024, as GSL argued, but instead continued in force to allow the SFO to pursue enforcement actions within a reasonable timeframe. This decision emphasises that the agreement was intended to serve the public interest and the interests of justice, ensuring that a company cannot avoid its financial obligations for admitted misconduct, specifically conspiracy to make corrupt payments, simply through the passage of time.

Market Abuse

Former Executive Admits to Major Insider Trading Scheme

A former corporate executive has pleaded guilty to participating in a multimillion‑dollar insider‑trading scheme, according to the US Department of Justice. The case, brought by the Southern District of New York, centres on the executive’s misuse of confidential corporate information to execute profitable trades, undermining market integrity and violating federal securities laws. The guilty plea marks a significant step in the government’s effort to hold individuals accountable for financial misconduct and protect investors from fraudulent activity.

Other Financial Crime

FCA Secures Confiscation Order Against Collateral Fraudster

The UK Financial Conduct Authority has obtained a £265,523.96 confiscation order against Andrew Currie, who was convicted in 2023 for defrauding investors through the collapsed peer‑to‑peer lending platform Collateral (UK) Ltd. Currie diverted investor funds for personal use, including buying a property in Spain, and the recovered amount represents the assets still available for seizure. The funds will be redistributed to victims, and failure to pay within three months could result in an additional prison term of up to three years.