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Financial Crime News Briefs

Snapshots of money laundering, insider trading, financial fraud, sanctions evasion, regulations, and AI technology developments for educational purposes only.

Day: July 10, 2024

Written by FinCrimeJuly 10, 2024July 10, 2024

Archegos founder Bill Hwang found guilty over fund’s collapse

Reported by Joe Miller and Joshua Franklin A New York jury has found former Wall Street trader Bill Hwang guilty of fraud and market manipulation, more than three years after the implosion of his fund Archegos sent tremors through global equity markets and left major banks nursing billions of dollars in losses. The verdict on Wednesday came […]

Written by FinCrimeJuly 10, 2024

Fintech – What Happens When Your Bank Isn’t Really a Bank and Your Money Disappears?

Reported by Rob Copeland For close to a century, putting your savings into a federally insured bank has been a sure thing: If the institution fails, up to $250,000 of your money will be protected. What if it isn’t anymore? The promise of bank insurance — a tenet of U.S. consumer protection since the Great […]

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