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Financial Crime
Editor's Picks
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Vought subordinate Levenbach at OMB tapped to head US CFPB
Stuart Levenbach, a US Office of Management and Budget energy official, has been tapped to head the US Consumer Financial Protection Bureau – an agency that Preside... (more story)
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US Fed supervisors told to defer to bank’s own enforcement audits
US Federal Reserve supervisors are being told to defer to a bank’s own audits in deciding whether to terminate enforcement actions against the firm. These decisions... (more story)
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Plea talks underway in Evita founder’s US cryptocurrency money laundering case
Iurii Gugnin, the founder of cryptocurrency payments firm Evita, is engaged in plea talks with the US government over allegations that he laundered more than $500 m... (more story)
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The US Securities and Exchange Commission said it was dropping a lawsuit accusing SolarWinds Corp. and its chief information security officer of failing to warn investors about lax cybersecurity standards befo... (more story)
A "billion-dollar" money-laundering network active in the UK bought a bank in Kyrgyzstan to evade sanctions on Russia and finance Moscow's Ukraine war effort, UK investigators said on Friday. They were reporti... (more story)
Rap artist Prakazrel “Pras” Michel was sentenced Thursday to 14 years in prison after he was found guilty of acting in the US as an unregistered foreign agent of Malaysian financier Jho Low, and of the Chinese... (more story)
The circumstances around the collapse of $28 million cryptocurrency scheme Basis Markets has seen two men arrested as part of a probe by the UK's Serious Fraud Office. Basis Markets raised millions of dollars ... (more story)
John Christopher Polit, the son of a convicted former Ecuadorian official, was sentenced in the US to 40 months in prison after pleading guilty to charges that he helped launder bribes paid to his father.
A co-founder of Samourai Wallet was sentenced Wednesday to 48 months in prison for developing the cryptocurrency mixing service and helping its users launder their money. Another co-founder received a maximum ... (more story)
Stuart Levenbach, a US Office of Management and Budget energy official, has been tapped to head the US Consumer Financial Protection Bureau – an agency that President Trump has been trying to dismantle since t... (more story)
Hewlett Packard Enterprise is claiming $1.8 billion from the estate of Mike Lynch over its flawed acquisition of the software business Autonomy.
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As TD Bank cooperated with US authorities amid an investigation into suspected money laundering, the Canadian lender began to enforce its compliance program in a way that “intentionally targeted and disproport... (more story)
Comunicaciones Celulares, the Millicom subsidiary that did business as TIGO Guatemala, reached a deferred prosecution agreement with US authorities and agreed to a $118 million penalty. The agreement, unsealed... (more story)
When US authorities announced a massive illegal gambling bust in October that involved professional basketball players, officials said at a press conference that the sports betting companies that had processed... (more story)
In 2010, as JP Morgan Chase retained convicted sex offender Jeffrey Epstein as a client, its anti-money laundering compliance team worked on a project to protect the bank from misuse by human traffickers. The ... (more story)
The targeting of an alleged Cambodian scam factory by US and UK enforcers with sanctions measures can be seen a positive step in Anglo-American relations, but it’s unclear whether the action will herald a new ... (more story)
Handing the UK’s financial markets regulator responsibility for supervising accountancy and law firms in relation to money laundering is a bold move, but questions remain as to how the new “super regulator” wi... (more story)
The US Treasury Department’s financial intelligence unit, which has been on a deregulatory tear in recent months, told banks Thursday they should file fewer reports about suspicious transactions. Financial ins... (more story)
A new rule from the US Commerce Department expands the universe of entities covered by export controls and may increase the risks of failing to comply with a trade regulation considered a priority for criminal... (more story)