FATF on Canada, ₹2.45 crore fraud, £17m laundered in cash, Philippines online scam, Japan considers new bill
Every story carries its source. What moved, what it means, and what to do about it.
FATF notes progress in Canada’s beneficial ownership transparency
On 29 September 2026, FATF and APG released the Mutual Evaluation Report of Canada, which highlights progress in beneficial ownership transparency and identifies gaps in the investigation and prosecution of complex money laundering cases and risk-based supervision.
According to the report, Canada has taken steps to strengthen beneficial ownership transparency and has a strong understanding of its main money laundering risks, including drug trafficking, fraud, and tax crimes. The report also highlights that the country has a well-established system for detecting and investigating terrorist financing. However, Canada needs to strengthen its investigation and prosecution of complex money laundering cases and ensure risk-based supervision covers all regulated sectors.
Source: FATF
₹2.45 crore routed through 10 bank accounts in two days
On 1 October 2026, Kolkata police identified that ₹2.45 crore was deposited into 10 bank accounts with links to digital fraud and suspected money laundering.
The Kolkata Police found that 10 bank accounts received around ₹2.45 crore within two days, with the money linked to multiple digital fraud cases. The fraud involved victims across India who were targeted through fake investment schemes, APK downloads, bogus KYC updates and digital arrest scams. The bulk of the fraud totalling around ₹2,44,83,000 was received in these 10 accounts over the two-day period. The fraud came to light following repeated complaints filed by victims on the National Cyber Crime Reporting Portal. Police are tracing the movement of the money after it reached these accounts, while using CCTV footage and IP logs to identify the people connected to the transactions.
Source: THE TIMES OF INDIA
Two arrested for laundering more than £17m in cash
West Midlands Police arrested two people for laundering more than £17m and possessing and transferring criminal property.
West Midlands Police arrested two people in September 2025 on suspicion of money laundering after finding £49,000 in cash in their vehicle. They were arrested again in February 2026 following a search that recovered £29,950 in cash, while another £20,000 was found at their home. Police then examined phones and handwritten ledgers, which showed that more than £17 million in cash had been laundered. Both pleaded guilty and were arrested for possessing and transferring criminal property.
Source: BBC
244 foreign nationals arrested in Philippines online scam
Philippines authorities arrested 244 foreign nationals on 2 October 2026 for engaging in illegal offshore gaming activities that were used as a cover for online scams.
Philippines authorities arrested 244 foreign nationals after raids at two sites conducting illegal offshore gaming operations. Criminal gangs often use Philippine Offshore Gaming Operators (POGOs) as a cover for crimes such as human trafficking, money laundering, kidnapping and fraud. Authorities seized large quantities of mobile phones, computers, laptops and SIM cards from the two sites. The Philippines government is investigating arrested foreign nationals for potential human trafficking offences while the remaining individuals are to be deported.
Source: AL JAZEERA
Japan considers new rule on beneficial ownership disclosure
The Japanese government plans to introduce a mandatory beneficial ownership disclosure bill to increase transparency regarding corporate ownership and detect potential organized criminal activity.
Japan plans to require companies to report information on their beneficial owners as part of efforts to strengthen measures against potential organized criminal activity. Under the proposed system, companies would provide the names, addresses, dates of birth and nationalities of individuals who directly or indirectly hold more than 25% of voting rights to the Legal Affairs Bureau when they are established. The requirement would cover domestic companies, excluding listed firms, as well as certain foreign companies operating or owning property in Japan. The information would be kept in a public register accessible to authorised government agencies and financial institutions.
Source: THE JAPAN TIMES
