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Cousin of Azerbaijan’s President Faces Greek Court Over Drugs-Fueled Party Allegations
Izzat Javadova, a cousin of Azerbaijan’s president, Ilham Aliyev, and a figure previously associated with the controversial "Azerbaijani...
Jan 7, 20252 min read
Bermuda Fines Meritus Trust Company $600,000 for AML and Sanctions Breaches
Meritus Trust Company has been fined $600,000 by Bermuda for breaches of anti-money laundering (AML) and sanctions compliance...
Jan 7, 20251 min read
Alleged LockBit Ransomware Mastermind to Be Extradited to the U.S.
Rostislav Panev, an alleged software architect of the infamous LockBit ransomware group, is set to be extradited to the United States to...
Jan 3, 20252 min read
Cryptocurrency Entrepreneur Do Kwon Pleads Not Guilty to Fraud Charges in U.S. Court
Do Kwon, the South Korean cryptocurrency entrepreneur whose digital currencies TerraUSD and Luna collapsed in 2022, resulting in an...
Jan 3, 20253 min read
Former TMNL Chief Reflects on ‘Unique’ Anti-Financial Crime Initiative Amid Disbandment
Norbert Siegers, the former head of the now-defunct Dutch anti-financial crime coalition TMNL (Transactie Monitoring Nederland),...
Jan 3, 20252 min read
Culture of Secrecy and Mistrust Hampered Swiss Response to Credit Suisse Collapse, Report Reveals
An inquiry into the collapse of Credit Suisse in 2023 has exposed a culture of secrecy, mistrust among officials, and efforts to minimize...
Jan 3, 20253 min read
CBW Bank Challenges $20 Million FDIC Penalty for Alleged AML Deficiencies
CBW Bank, a small community lender based in Kansas with assets totaling $90 million, is contesting a $20.4 million civil penalty imposed...
Dec 31, 20242 min read
Top 5 Business Risks for 2025: U.S. Uncertainty, Global Trade War, Cyber Attacks Dominate
A leading risk management firm, Control Risks, has identified the top five risks that businesses are likely to face in 2025, accompanied...
Dec 31, 20243 min read
Abu Dhabi FSRA Fines Aarna Capital $504,000 for AML Failures
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi has imposed a $504,000 fine on Aarna Capital Limited (ACL) for failing to...
Dec 30, 20242 min read
U.S. Companies Required to Resume Beneficial Ownership Filings Following Appeals Court Decision
Almost all U.S. companies are once again required to file beneficial ownership (BO) information, following a legal victory for the U.S....
Dec 30, 20242 min read
Dubai Authorities Dismantle Two Major International Money-Laundering Networks Totaling AED 641 Million
In a significant operation led by Dubai authorities and federal agencies, two major international money-laundering networks responsible...
Dec 30, 20242 min read
OCC Issues Cease-and-Desist Order to Bank of America Over AML Deficiencies
The U.S. Office of the Comptroller of the Currency (OCC) has issued a cease-and-desist order to Bank of America, citing significant...
Dec 24, 20241 min read
CySEC Publishes Practical Guide to Combat Proliferation Financing
The Cyprus Securities and Exchange Commission (CySEC) has released a practical guide designed to assist regulated entities in addressing...
Dec 24, 20242 min read
Five Former Executives of Axiom Charged in £60 Million Fraud Case
Five senior executives of the now-defunct law firm Axiom have been charged with fraud, forgery, and alleged destruction of documents in...
Dec 24, 20242 min read
EU Introduces Groundbreaking Product Safety Rules for AI-Driven Technologies
On December 13, the European Union implemented new regulations requiring that any product using artificial intelligence be safety...
Dec 23, 20243 min read
Deutsche Bank Securities Fined $4 Million for Delayed Suspicious Activity Reports
Deutsche Bank Securities, the U.S. subsidiary of Germany’s Deutsche Bank, has been fined $4 million in civil penalties following charges...
Dec 23, 20241 min read
Former IMF Chief Rodrigo Rato Sentenced to Nearly Five Years for Corruption
A Madrid court has sentenced former International Monetary Fund (IMF) chief Rodrigo Rato to four years, nine months, and one day in...
Dec 23, 20241 min read
CFPB Sues Major Banks Over Alleged Zelle Fraud Failures
The U.S. Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo,...
Dec 23, 20243 min read
Iran’s Revolutionary Guards Tighten Control Over Oil Exports
Iran’s Revolutionary Guards (IRGC) have significantly expanded their influence over the country’s oil industry, now controlling up to...
Dec 20, 20243 min read
Canada Proposes Tougher Penalties for Financial Crimes Amid TD Bank Controversy
Canada is gearing up to impose stronger penalties for financial crimes, with significant changes proposed to its anti-money laundering...
Dec 20, 20242 min read
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