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Financial Crime

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Dispute over sale at center of US effort to seize yacht from sanctioned oligarch January 21, 2025 | Samuel Rubenfeld

The US effort to complete the seizure of a superyacht worth up to $300 million centers on a September 2021 sale of the vessel to a sanctioned Russian oligarch, according to opening arguments today in an eviden... (more story)

UK banks, payments firms reimburse over 90 percent of APP fraud under new rules January 21, 2025 | Phoebe Seers

UK banks and payments firms are reimbursing more than 90 percent of fraud claims since new rules took effect in October, the head of the payments regulator said today. It's a marked increase from approximately... (more story)

UK online safety laws can fight fraud on tech platforms, FCA says (update**) January 21, 2025 | Phoebe Seers and Frank Hersey

Tech platforms could be effectively targeted under the UK's online safety laws to tackle consumer fraud emanating from their services, a senior official with the Financial Conduct Authority said today, noting ... (more story)

Former Swedbank head has no grounds to appeal conviction, Swedish prosecutor says January 21, 2025 | Martin Coyle

Swedbank's former head, Birgitte Bonnesen has no grounds to take her appeal against her money laundering-linked conviction to Sweden’s top court, the country’s chief prosecutor said today. Bonnesen was sentenc... (more story)

Global Forestry Investment fraudsters see UK appeals rejected January 21, 2025 | Martin Coyle

Two men convicted of running a fraudulent investment scheme promoting teak plantations in Brazil today lost their bids to appeal both their UK convictions and sentences. Andrew Skeene and Junie Bowers repeated... (more story)

DOJ under Biden set records for civil antitrust enforcement, lagged in criminal cases January 17, 2025 | Chris May, Khushita Vasant, Curtis Eichelberger and Clayton Vickers

The US Department of Justice’s antitrust division had more total active civil investigations open in fiscal year 2024 than in any year for nearly a decade, workload statistics released today show.

Former Mozambican minister gets prison sentence in US over ‘tuna bond’ scheme January 17, 2025 | Samuel Rubenfeld

Manuel Chang, a former Mozambican finance minister, was sentenced to more than eight years in prison in the US over his role in a $2 billion investment fraud scheme known globally as the “tuna bond” scam. The ... (more story)

UK fraud agency secures first 'McMafia' order, against fraudster's ex-wife January 17, 2025 | Martin Coyle

The former wife of fraudster Timothy Schools today became the first person to be targeted and successfully served with a dirty cash order by the UK’s Serious Fraud Office. A UK judge today granted the SFO its ... (more story)

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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)

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)