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Financial Crime
Editor's Picks
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Trump temporarily blocked by Supreme Court from ousting US Fed’s Cook
The US Supreme Court temporarily blocked President Donald Trump from ousting Federal Reserve Governor Lisa Cook, deferring the administration's application for a st... (more story)
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UK legal pressure tactics on police, regulator unveiled in Carter Ruck papers
Correspondence between UK law firm Carter Ruck and a former client — an alleged $4 billion fraudster dubbed the “CryptoQueen” — have thrown light on the suspected u... (more story)
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South Korea to abolish breach of trust crime, ease economic criminal penalties
South Korea will abolish the crime of breach of trust, long criticized for exposing corporate executives to imprisonment and criminal fines, and replace economic cr... (more story)
Insight View More
The Group of 20 economic powers received an annual Financial Stability Board report saying that authorities’ monitoring of Artificial Intelligence adoption and vulnerabilities is still at an early stage due to... (more story)
Former star fund manager Neil Woodford faces a likely wait of more than a year to defend himself against a multi-million pound fine over his collapsed fund, as senior regulators defended their conduct over the... (more story)
A misapplication of protocol that led to a last-minute discovery issue isn't evidence of bad faith by the government in the corruption case of a Mexican businessman, prosecutors said in a new court filing.
KPMG has been fined £710,937 and a former audit partner at the firm £51,187 over “serious breaches” in their work for UK online clothing retailer N Brown. The Financial Reporting Council said that despite iden... (more story)
Use of stablecoins and other cryptocurrencies for payments declined by about a third from 2022 to 2024, encompassing less than 2 percent of US households in 2024, a US Federal Reserve Bank of Kansas City study... (more story)
Deutsche Bank trader Christian Bittar’s 2018 conviction for rate rigging is “safe,” the UK’s Serious Fraud Office said Monday, following its review of cases affected by the overturning of other traders convict... (more story)
A former Petróleo Brasileiro oil executive accused of being involved in “corruption,” will have to wait until next year to see whether he can keep millions of dollars tied up in a UK bank account.
The US Supreme Court declined to hear a second attempt by Turkish state-owned lender Halkbank to claim foreign sovereign immunity against money laundering and other criminal charges for allegedly helping Iran ... (more story)
Comment View More
The US Treasury Department’s financial intelligence unit, which has been on a deregulatory tear in recent months, told banks Thursday they should file fewer reports about suspicious transactions. Financial ins... (more story)
A new rule from the US Commerce Department expands the universe of entities covered by export controls and may increase the risks of failing to comply with a trade regulation considered a priority for criminal... (more story)
Where will £5.5 billion in Bitcoin seized by UK authorities from a Chinese fraud end up? Chinese investors eyeing a slice could face an uphill battle in recouping their losses. UK civil recovery proceedings we... (more story)
Correspondence between UK law firm Carter Ruck and a former client — an alleged $4 billion fraudster dubbed the “CryptoQueen” — have thrown light on the suspected use of legal tactics to shut down scrutiny of ... (more story)
UBS's deal this week to pay just under $1 billion to end a long-running French case over allegations of money laundering and tax evasion may please the Swiss bank's management in the sense that it could have b... (more story)
Allegations of a Mexican businessman’s purported ties to a drug cartel were racist and motivated by politics, and they render a US corruption investigation against him unconstitutional, according to a recent m... (more story)
UK-based Vanquis Bank may have escaped with just a rap over the knuckles for sanctions breaches, but the case demonstrates that poor compliance can lead to scrutiny. While OFSI declined to fine the bank, it sa... (more story)
A former senior FBI official serving two prison sentences also obstructed a bribery investigation of a Chinese energy firm while working for the agency, according to a new report by the US Justice Department’s... (more story)