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Financial Crime

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US defends yacht seizure amid Russian businessman’s claim, end of kleptocracy unit February 07, 2025 | Samuel Rubenfeld

Days after US Attorney General Pam Bondi disbanded a kleptocracy task force aimed at the assets of Russian elites, federal prosecutors argued at the conclusion of an evidentiary hearing that a sanctioned oliga... (more story)

Brink’s operated outside regulatory exception for currency transporters, US says February 06, 2025 | Samuel Rubenfeld

A Brink’s Co. subsidiary operated outside an exemption to anti-money laundering regulations for currency transporters, according to settlements with US authorities announced today. The exemption covers a “narr... (more story)

UK payments watchdog focusing on 'most serious' breaches of APP fraud rules February 06, 2025 | Phoebe Seers

The UK’s payments regulator today said it would only take enforcement action against the most serious and persistent breaches of its authorized push payment fraud reimbursement rules. The Payment Systems Regul... (more story)

No compensation for Blackmore Bond victims, UK FCA says as it rejects complaints February 06, 2025 | Phoebe Seers

Concerns around collapsed mini-bond issuer Blackmore Bond were handled appropriately, the UK's the Financial Conduct Authority has said, and so it won’t compensate victims or open a criminal probe. Closing its... (more story)

Bondi deprioritizes US anti-corruption, corporate criminal enforcement February 06, 2025 | Samuel Rubenfeld

Hours after taking office, US Attorney General Pamela Bondi issued directives to curtail anti-corruption and corporate criminal enforcement.

UK FCA's name and shame proposal 'misleading,' lawmakers conclude February 06, 2025 | Phoebe Seers

The UK financial services watchdog has yet to make a convincing case for its "name and shame" proposals that would see more companies that come under investigation named in public, lawmakers said today. In a d... (more story)

UK fraud agency to get multi-million-pounds advance to fund 'complex' probes February 05, 2025 | Martin Coyle

The UK’s Serious Fraud Office is set to receive a 15-million-pounds cash ($18.8 million) injection from the government to fund its biggest probes, the third advance it has had over the last three years. The mo... (more story)

US SEC’s `Crypto Mom’ asks for industry patience on regulatory framework February 04, 2025 | Neil Roland

US Securities and Exchange Commission member Hester Peirce, head of the agency’s cryptocurrency task force, asked for industry patience as her panel prepares to recommend a regulatory framework with anti-fraud protections.

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US turn away from corporate corruption fight raises European enforcement fears February 07, 2025 | Martin Coyle

Trump administration moves to dampen US anti-corruption efforts have raised concerns about the potential impact on foreign bribery enforcement in Europe and beyond. The US has helped European prosecutors, incl... (more story)

US anti-corruption push should continue despite lessened priority, observers say February 06, 2025 | Samuel Rubenfeld

The US shouldn't give up on enforcement of anti-corruption and corporate criminal law, even if US Attorney General Pam Bondi makes it less of a priority at the Justice Department.

Seizure of USAID puts anti-corruption initiatives on the brink February 05, 2025 | Samuel Rubenfeld

An Elon Musk-led takeover of the lead US development aid agency could wreak havoc on global anti-corruption initiatives. By law, the president cannot abolish, move or consolidate USAID, but Musk and Trump admi... (more story)

Trafigura’s Swiss conviction sends strong message, but appeal could bite back February 04, 2025 | Martin Coyle

Switzerland has sent a strong message with the conviction of Trafigura and former senior executive Mike Wainwright on bribery charges, and the case piles increased pressure on commodities companies operating i... (more story)

Trump opens the gates for crypto deregulation with series of measures January 24, 2025 | Neil Roland

The US Securities and Exchange Commission's rescission of an accounting bulletin capped a series of victories for cryptocurrency deregulation this week and set up the potential for further reduction in the ove... (more story)

UK fraud office can toast wealth order success, but tougher foes lie ahead January 23, 2025 | Martin Coyle

The first use of a dirty-cash order by the UK’s fraud prosecutor was a resounding success, potentially giving it heart in its fight against white-collar crime. But in truth, it saw little pushback in its first... (more story)

Trump reversal on rules hits financial services with 'wholesale' FDIC review January 21, 2025 | Neil Roland

A day after President Donald Trump’s inauguration, his overhaul of Biden-era policies has reached financial services with the US Federal Deposit Insurance Corp. announcement today of a “wholesale” review of it... (more story)

UK's Russia sanctions regime faces key tests as Supreme Court hears challenges January 14, 2025 | Martin Coyle and Phoebe Seers

The UK will see its Russian sanctions regime stress-tested this week as the country's top judges hear appeals from billionaire oil tycoon Eugene Shvidler and Russian businessman Sergei Naumenko. The government... (more story)