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Financial Crime
Editor's Picks
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Novel crypto theft involved old-time bait and switch, US says at close of trial
Two brothers carried out a bait-and-switch when they stole $25 million in cryptocurrency in 12 seconds by exploiting a vulnerability in the Ethereum blockchain, pro... (more story)
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FTX's Bankman-Fried faces skeptical US court over claim of unfair fraud trial
A US federal appeals court was skeptical of claims made Tuesday by a lawyer for FTX founder Samuel Bankman-Fried that his conviction on fraud and conspiracy charges... (more story)
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Credit-default swaps still illiquid, opaque, Iosco says
A credit-default swaps derivative that affected the banking industry during its Spring 2023 turmoil remains illiquid and opaque, reports by the International Organi... (more story)
Insight View More
Kenneth Leech, the former chief investment officer of Western Asset Management, will receive more details from US prosecutors about the allegedly unlawful trades at the center of his cherry-picking fraud case.
A co-founder of Samourai Wallet received a statutory maximum sentence of five years in prison after pleading guilty in the US to assisting users of the cryptocurrency mixing service with laundering their money.
Cryptocurrency exchange Coinbase Europe has been fined €21.4 million by Ireland’s financial regulator, for anti-money laundering breaches linked to transactions worth billions of euros. The Central Bank of Ire... (more story)
JP Morgan has been fined €45 million by Germany’s financial regulator for “shortcomings” in its money-laundering controls at the US bank's Frankfurt unit. For almost a year it “systematically failed” to submit... (more story)
The US government kept an indictment against a former Goldman Sachs banker sealed until his arrest due in part to concerns about his connections to senior officials in Ghana, an FBI agent testified Wednesday a... (more story)
Two brothers carried out a bait-and-switch when they stole $25 million in cryptocurrency in 12 seconds by exploiting a vulnerability in the Ethereum blockchain, prosecutors said Tuesday at the close of their t... (more story)
A US federal appeals court was skeptical of claims made Tuesday by a lawyer for FTX founder Samuel Bankman-Fried that his conviction on fraud and conspiracy charges stemmed from an unfair trial. “From my readi... (more story)
UK mobile network operators including BT EE, VodafoneThree and Virgin Media O2 have agreed to block scam calls from abroad that show up as coming from domestic numbers within one year, the UK government has sa... (more story)
Comment View More
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)
Where will £5.5 billion in Bitcoin seized by UK authorities from a Chinese fraud end up? Chinese investors eyeing a slice could face an uphill battle in recouping their losses. UK civil recovery proceedings we... (more story)
Correspondence between UK law firm Carter Ruck and a former client — an alleged $4 billion fraudster dubbed the “CryptoQueen” — have thrown light on the suspected use of legal tactics to shut down scrutiny of ... (more story)
UBS's deal this week to pay just under $1 billion to end a long-running French case over allegations of money laundering and tax evasion may please the Swiss bank's management in the sense that it could have b... (more story)