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Financial Crime

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Frank founder, executive lied to sell firm, US argues at close of fraud trial March 27, 2025 | Samuel Rubenfeld

The founder of tech startup Frank and the firm’s chief growth officer lied to banks about the size of its userbase, the very thing that had made the company valuable, prosecutors said today in their closing ar... (more story)

Hayes' personal profit considerations ‘polluted’ Libor, SFO tells UK Supreme Court March 26, 2025 | Phoebe Seers and Martin Coyle

Former UBS and Citigroup trader Tom Hayes’ argument that Libor permitted traders to take a personal profit into account when submitting borrowing rates is “anathema to the fundamental concept of an independent... (more story)

Russian ex-lawmaker's wife says she's 'ashamed' during UK sanctions trial March 26, 2025 | Martin Coyle

The wife of a former Russian government minister facing sanctions evasion charges alongside her husband told a London court today that she had “no clue” about the impact of sanctions on her family and feels “a... (more story)

Tech companies will be encouraged to do more to prevent fraud, UK minister says March 26, 2025 | Martin Coyle

Technology and telecoms companies will be encouraged to do more as part of a new “beefed up” fraud strategy set to be released later this year, the UK’s fraud minister said today. "We need to secure a global p... (more story)

Pause in US bribery efforts could expedite UK cases, SFO official says March 26, 2025 | Martin Coyle

The pause in global bribery investigations by the US could lead to the UK and Europe being able to “expedite” cases, a senior official at the Serious Fraud Office official said today. Separately, the SFO is se... (more story)

Meta in 'last chance saloon' on fraud, UK lawmaker Charters says March 25, 2025 | Phoebe Seers

Social media platforms like Meta have been warned they are in the “last chance saloon” when it comes to their inaction on fraud. Luke Charters, a Labour lawmaker and former regulator, said now is the time for ... (more story)

Standard Chartered loses bid to scale back investors' UK sanctions lawsuit March 25, 2025 | Martin Coyle

Standard Chartered has lost a bid to cut hundreds of millions of pounds out of a UK lawsuit by investors who claim they lost out due to the investment bank’s complicity in bribery and sanctions busting. The in... (more story)

UK payments regulator’s policy head Fitzgerald quits March 25, 2025 | Phoebe Seers

Kate Fitzgerald, head of policy at the UK Payment Systems Regulator and architect of its fraud-reimbursement regime, is leaving the regulator at the end of April, MLex has learned. News of her departure comes ... (more story)

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Concerns about lost focus on payments are reasonable, UK regulator says March 26, 2025 | Phoebe Seers

Concerns that a move to abolish the UK’s dedicated payments regulator could result in less focus on payments are “absolutely reasonable,” a senior official from that regulator has said. “If we don’t think abou... (more story)

Four years in, Europe’s ‘youngster’ prosecutor’s office EPPO faces challenges March 25, 2025 | Martin Coyle and Phoebe Seers

With more than 2,500 active investigations linked to damage worth 24 billion euros, the European Public Prosecutor's Office has come a long way since 2020, when staff sat at their desks without computers. But ... (more story)

New US Corporate Transparency Act rule guts financial crime efforts, analysts say March 24, 2025 | Samuel Rubenfeld

A new interim rule from the US Treasury Department narrowing the scope of an anti-money laundering law could significantly harm efforts to combat financial crime, experts said.  The new rule formalizes changes... (more story)

European bribery enforcers' tie-up signals resolve despite US retreat March 21, 2025 | Martin Coyle and Samuel Rubenfeld

News that Europe’s top foreign-bribery prosecutors will band together and collaborate more closely will inevitably be seen as a response to a US retreat from enforcement, even though they say it has been years... (more story)

Canada accelerates timeline for anti-money laundering regulatory changes March 17, 2025 | Samuel Rubenfeld

The Canadian government has moved up its timeline for changes to its anti-money laundering regulatory regime, bringing them into force on April 1 – six months earlier than originally proposed. Companies subjec... (more story)

US cybersecurity defenders alert to Russian threat as government downsizes March 10, 2025 | Madeline Hughes and Maria Dinzeo

US cybersecurity defenders in the private sector remain on alert for Russian threats even as the federal workforce has been hit with staff reductions and reports indicate national agencies may be softening on the issue.

Entain's legal challenges make it tough to leave Turkish bribery case behind March 07, 2025 | Martin Coyle

Entain this week took a step toward banishing the memory of a blockbuster settlement with UK authorities over a bribery scandal at a Turkish online gaming business it used to own. But the gambling operator — w... (more story)

Trial dates begin to slip amid enforcement reviews of US bribery cases March 05, 2025 | Samuel Rubenfeld

The day before jury selection was scheduled to begin in the corruption trial of two Cognizant Technology Solutions executives charged with authorizing bribes to Indian officials, New Jersey’s top federal prose... (more story)