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Financial Crime

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Businessman says he doesn't understand banking at UK money laundering trial January 16, 2025 | Phoebe Seers and Martin Coyle

Businessman and socialite James Stunt, accused of money laundering, told a UK court today, “I don’t really understand banking” in response to evidence that showed that nearly 23 million pounds was deposited as... (more story)

Block fined $80 million by US state regulators over Cash App compliance failures January 15, 2025 | Samuel Rubenfeld

Block was fined $80 million by regulators from 48 states over failures in its anti-money laundering compliance program at Cash App, its digital money-transfer platform.

Shvidler appeals to UK Supreme Court to overturn ‘arbitrary’ sanctions designation January 15, 2025 | Phoebe Seers and Martin Coyle

Eugene Shvidler, a Russian-born businessman and friend of former Chelsea Football Club owner Roman Abramovich, today took his bid to overturn the UK sanctions designation imposed on him in the wake of the inva... (more story)

Axiom Ince executives appear in UK court over fraud allegations January 15, 2025 | Martin Coyle

Five senior Axiom Ince employees appeared at a London court today to answer fraud charges related to the UK law firm’s collapse and the loss of tens of millions of pounds of client money. Their cases were toda... (more story)

Relax EU’s sanctions against Syria, six member states suggest January 15, 2025 | Jean Comte and Luca Bertuzzi

Six EU member states — Germany, France, the Netherlands, Spain, Finland and Denmark — have suggested lifting some of the sanctions that the bloc has imposed on Syria since 2011, according to a joint written pr... (more story)

Repatriation by US of laundered Nigerian assets to fund rural electrification January 13, 2025 | Samuel Rubenfeld

About $50 million in stolen Nigerian assets to be repatriated by the US will fund rural electrification in Nigeria, according to a joint agreement signed Friday by the two governments. The funds come from the ... (more story)

Schools ordered to pay more than GBP1 million over Axiom fraud January 09, 2025 | Martin Coyle

Timothy Schools, a convicted fraudster, was today ordered to pay 1,083,000 pounds for his part in a 100 million-pound fraud that saw him jailed for 14 years. Schools had duped investors into losing money via A... (more story)

US appeals court appears open to reinstating soccer corruption convictions January 08, 2025 | Samuel Rubenfeld

An appellate court judge seems willing to reinstate the convictions of a former 21st Century Fox executive and a sports marketing company for their roles in a scheme to bribe South American soccer officials fo... (more story)

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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)

Behnam's US CFTC crypto crackdown ends with departure January 07, 2025 | Neil Roland

Rostin Behnam's announcement today that he will step down as US Commodities Futures Trading Commission chair marks the departure of an aggressive enforcer on cryptocurrency matters on the eve of a new administ... (more story)

Trudeau resignation, parliament prorogue delays Canadian financial crime overhaul January 06, 2025 | Samuel Rubenfeld

The resignation of Canadian Prime Minister Justin Trudeau and the shutdown of Parliament will cause delays to the country’s planned overhaul of its legal framework against financial crime, lawyers told MLex. T... (more story)

UK government moves to further protect agencies over dirty-cash seizures January 03, 2025 | Martin Coyle

UK moves to protect prosecutors from deep-pocketed individuals in suspected dirty-money cases could see enforcers becoming braver in taking on Kleptocrats, but history suggests there is unlikely to be a glut o... (more story)

US turns to Supreme Court to pursue Corporate Transparency Act enforcement January 02, 2025 | Samuel Rubenfeld

After whipsaw rulings during the holidays by two separate panels of the same US appeals court, the government has asked the Supreme Court to allow it to enforce the Corporate Transparency Act. The law has been... (more story)

Former US President Jimmy Carter leaves landmark anti-corruption legacy December 30, 2024 | Samuel Rubenfeld

One of the major policy accomplishments of Jimmy Carter’s US presidency was the passage of anti-corruption legislation that continues to leave its imprint on corporate criminal law enforcement today.

Landmark appellate decision could kill Tornado Cash co-founder's US criminal case December 30, 2024 | Samuel Rubenfeld

After losing a motion to dismiss criminal charges of sanctions violations and money laundering, Tornado Cash co-founder Roman Storm is trying again, armed with an appellate decision involving the cryptocurrenc... (more story)

Amid criticism, Canada to toughen anti-money laundering enforcement December 23, 2024 | Samuel Rubenfeld

The Canadian government recently announced plans to bulk up its anti-money laundering enforcement amid criticism that existing measures weren’t tough enough — despite a record fine this spring on the country’s... (more story)