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OCC Identifies Risk Management and Compliance Failures in Three Banks
The Office of the Comptroller of the Currency (OCC) has cited three banks for unsafe and unsound business practices reminiscent of issues...
Apr 22, 20242 min read
FATF Finance Ministers Commit to Strengthening Global Anti-Money Laundering Efforts
Finance Ministers of the Financial Action Task Force (FATF) have committed to providing more funding to address gaps in the effective...
Apr 22, 20242 min read
UK MPs Warn of Failing Efforts Against Dirty Money Epidemic Costing £350 Billion Annually
Members of Parliament in Britain are issuing a stern warning, asserting that the nation is falling dramatically short in its efforts to...
Apr 22, 20242 min read
Inside Job: How FINTRAC Unraveled Canada's Biggest Gold Heist
FINTRAC, Canada’s Financial Transactions and Reports Analysis Centre, has emerged as a critical player in the capture of the criminal...
Apr 22, 20242 min read
CFPB Streamlines Nonbank Supervisory Process to Enhance Oversight
The Consumer Financial Protection Bureau (CFPB) has taken further steps to expand its supervisory authority over nonbank financial...
Apr 19, 20241 min read
Banking Access for Sex Workers: Challenges and Responses in the UK
UK Finance, representing the banking and financial sector, has acknowledged the challenges sex workers face in accessing banking...
Apr 19, 20242 min read
Breaking the Network: Joint Operation Dismantles Transcontinental Criminal Syndicate
A significant breakthrough in the global fight against organized crime has been achieved with the apprehension of 20 individuals involved...
Apr 19, 20243 min read
PwC Responds to Criticism Over Evergrande Audit Amid Legal Threats and Regulatory Scrutiny
PwC, one of the leading 'big four' accounting firms, has issued a strong response to an anonymous letter circulating on social media that...
Apr 18, 20242 min read
DOJ Launches Pilot Program Offering Nonprosecution Agreements to Corporate Whistleblowers
The Department of Justice (DOJ) has initiated a novel pilot program designed to incentivize corporate executives to voluntarily disclose...
Apr 18, 20242 min read
European Court of Human Rights' Landmark Ruling Links Climate Change Action to Human Rights Protection
In a landmark ruling, the European Court of Human Rights (ECHR) has issued a verdict with profound implications for climate change policy...
Apr 17, 20242 min read
SEC Enforcement Director Outlines Compliance Measures for AI Use in Financial Markets
The Securities and Exchange Commission's (SEC) Director of Enforcement, Gurbir Grewal, emphasized the imperative for firms to exercise...
Apr 17, 20242 min read
Trouble Down Under: TikTok Faces AML Probe in Australia Amid Global Scrutiny
TikTok, the ubiquitous social media juggernaut, has found itself in the crosshairs of a potential Anti-Money Laundering (AML)...
Apr 17, 20242 min read
Europol-Led Operation Dismantles Multi-Million Euro Cannabis Investment Fraud Scheme 'JuicyFields'
In a sweeping operation spanning eleven countries, law enforcement agencies collaborated to dismantle a sophisticated investment fraud...
Apr 17, 20242 min read
Combatting Passport Card Fraud: In-depth Analysis of Red Flags for Financial Institutions
U.S. authorities have taken a significant step in addressing the use of counterfeit Passport Cards for identity theft and fraud schemes...
Apr 16, 20243 min read
U.S. Treasury Imposes Sanctions on Cypriot Companies Linked to Belarusian Defense Industry
The recent actions taken by the U.S. Department of the Treasury to expand its sanctions list by including two Cypriot companies represent...
Apr 16, 20242 min read
Five investment advisers have been fined a total of $200,000 by the Securities and Exchange Commission (SEC) for alleged violations of the amended marketing rule
Gea Sphere, based in Rhode Island, agreed to pay a civil penalty of $100,000 for advertising hypothetical performance on its website...
Apr 15, 20241 min read
A recent meeting held by the Financial Action Task Force (FATF) at the United Nations Office on Drugs and Crime (UNODC) in Vienna
A recent meeting held by the Financial Action Task Force (FATF) at the United Nations Office on Drugs and Crime (UNODC) in Vienna...
Apr 15, 20242 min read
A prominent Vietnamese property firm, Van Thinh Phat Holdings Group, and its chairwoman, Truong My Lan, have been implicated in what is being described as Vietnam's largest-ever financial fraud
Following a month-long trial, Lan was sentenced to death on Thursday along with numerous other defendants found guilty of participating...
Apr 15, 20242 min read
Europe has taken a significant step forward in its efforts to combat organized crime and illicit financial activities with the adoption of a new law focused on asset recovery and confiscation
The European Union, on Friday, officially endorsed legislation that establishes minimum standards across the EU for tracing, identifying,...
Apr 15, 20242 min read
Thailand's Cabinet has endorsed a National Assembly committee's examination into the potential establishment of regulated casino resorts within the country
This decision, reached during the Cabinet's weekly session, follows a March vote by the Thai House of Representatives, where 253 out of...
Apr 12, 20242 min read
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