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Financial Crime
Editor's Picks
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US Fed phasing out special Biden-era oversight of crypto assets
The US Federal Reserve said it will phase out its special Biden-era supervision of banks’ crypto assets and other “novel” activities and return to overseeing these ... (more story)
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KC Fed paper raises red flag on stablecoin law's impact on US credit markets
A US Federal Reserve Bank of Kansas City paper raised a red flag for the first time about the possibly harmful impact of the GENIUS Act on US credit markets, as oth... (more story)
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US SEC permits in-kind creations, redemptions for Crypto ETPs
The US Securities and Exchange Commission approved orders to allow in-kind creations and redemptions by authorized participants for bitcoin and ether exchange-trade... (more story)
Insight View More
Five more rate rigging convictions secured by the UK’s Serious Fraud Office could be unsafe, the prosecutor said today, after the Supreme Court quashed the conviction of former UBS trader Tom Hayes for the sam... (more story)
The former head of GVC Holdings, the parent company of gambling firm Entain, is among 11 individuals who have been charged with fraud and bribery offenses by UK prosecutors today. The charges relate to the pro... (more story)
A bribery investigation linked to Alecta, a pension fund manager in Sweden, is still ongoing despite the shelving of some aspects of the probe, according to prosecutors. The Swedish Prosecution Authority has b... (more story)
Dutch online bank Bunq is challenging a 2.6 million euros ($3 million) fine imposed by the Dutch central bank over “serious deficiencies” in its anti-money laundering controls.
Trade groups are urging the Basel Committee on Banking Supervision to temporarily pause implementation of its crypto-asset standard, due to go into effect on Jan. 1, 2026. The global standard-setter should see... (more story)
Standard Chartered welcomed a US government brief in a whistleblower’s appeal over alleged sanctions violations saying that the tipster had made “unfounded” claims of fraud on the court.
Banque J. Safra Sarasin today paid 19.5 million Swiss francs to settle claims by Swiss prosecutors that it allowed tens of millions of dollars linked to Petrobras to be laundered through the private bank. A fo... (more story)
Lawyers for Mario Ildeu de Miranda — a former Petrobras executive who saw millions of dollars seized by the UK’s Serious Fraud Office over allegations of corruption — will argue that the money came from legiti... (more story)
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Large companies have been warned of consequences if they lack procedures to prevent fraud, once new UK legislation comes into effect next week. But history suggests that enforcement could be some way off. As t... (more story)
Allegations of bribery involving Smartmatic, lodged by US federal prosecutors in a criminal case against the voting machine producer’s cofounder and two current and former executives, have bled their way into ... (more story)
UK retailer WHSmith’s announcement yesterday that it had overstated its expected North American profits by around $30 million led to a plunge in its share price and concerns about its accounting practices. Whi... (more story)
A UK accounting firm is the first to face prosecution for failure to prevent tax evasion, eight years after the offense was written into UK law. While the law may have changed some companies' behavior, the cas... (more story)
A US Federal Reserve Bank of Kansas City paper raised a red flag for the first time about the possibly harmful impact of the GENIUS Act on US credit markets, as other questions about the stablecoin regulatory ... (more story)
After racking up wins on Capitol Hill and at the White House in recent months, the cryptocurrency industry isn’t taking a mixed verdict in the trial of Tornado Cash co-founder Roman Storm lying down. They’re v... (more story)
A Bank for International Settlements paper warned of the risks from stablecoin use for money laundering and terrorism financing, their potential impact on fire sales, and possible strains on dollar funding liq... (more story)
As a White House working group on digital assets sees a “valuable opportunity” for a comprehensive review of the US framework against money laundering and terrorist financing, regulators and industry players a... (more story)