Reported by Valerie Hopkins and Julian E. Barnes The Russian arms dealer Viktor A. Bout is trying to broker a deal with Houthi militants in Yemen, according to Western officials. The negotiations between Mr. Bout and the Iran-backed group have been in progress for some time, but no deal has been completed and no arms have been […]

Reported by Samantha-Jo Roth Reps. Bill Huizenga (R-MI) and Blaine Luetkemeyer (R-MO), the chairmen of two subcommittees, sent a letter this week to Andrea Gacki, the director of the Financial Crimes Enforcement Network, asking the agency to utilize its authority to “detect terrorist acts and financing through the USA Patriot Act.” The congressmen are requesting that FinCEN […]

Reported by Natalie Musumeci (Summarized version of original report) Tax evasion, insider trading, and money laundering are some of the most common financial crimes committed by the wealthiest individuals in society, often with little fear of prosecution. According to white-collar defense attorneys, these tactics are used to illegally increase wealth. High-profile cases such as Todd […]

Reported by Ryan Browne Facebook parent company Meta on Wednesday said that it’s working with two leading banks in the U.K. on an information-sharing arrangement to help protect consumers from fraud. Meta said it was expanding its Fraud Intelligence Reciprocal Exchange (FIRE) to enable U.K. banks to directly share information with the social media giant, in a […]

Reported by Alistair Gray Socialite James Stunt allowed his offices in London’s Mayfair to become a “trusted hub” for criminality, prosecutors claimed on Thursday at one of the UK’s biggest money laundering trials. The former son-in-law of Formula 1 head Bernie Ecclestone was accused of being part of a scheme that allowed criminals to funnel […]

Reported by Hugh Son Buried in a roughly 200-page quarterly filingfrom JPMorgan Chase last month were eight words that underscore how contentious the bank’s relationship with the government has become. The lender disclosed that the Consumer Financial Protection Bureau could punish JPMorgan for its role in Zelle, the giant peer-to-peer digital payments network. The bank is accused of failing to […]

Reported by SAVANNAH FORTIS The Financial Supervisory Commission (FSC) of Taiwan introduced new Anti-Money Laundering (AML) regulations that all local virtual asset service providers (VASPs) must comply with by 2025. On Oct. 2, the FSC released updated AML measures following earlier amendments proposed by the financial watchdog. Taiwan has been expected to roll out new crypto-related regulations since March.  […]

Reported by Shekina Tuahene The Financial Conduct Authority (FCA) has fined Starling Bank £29m for failing to stop customers involved in criminal activities from having an account.  The failings related to its ‘financial sanctions screening’, which is the process of identifying whether individuals may be considered high-risk or be subject to economic sanctions and to […]

Reported by Pete Schroeder The Federal Reserve announced on Tuesday that it had terminated a 2013 enforcement action it filed against Citigroup (C.N) over shortcomings in its capacity to police money laundering. The enforcement action, which did not carry a fine, was filed against the bank and its Banamex subsidiary over deficiencies in the firms’ anti-money laundering programs, […]

Reported by Daily Hodl Staff Bank of America customers are reporting massive issues with online and mobile banking. The site monitoring service Downdetector shows tens of thousands of customers have reported severe service disruptions in the last few hours, with users on the social media platform X stating that their balances have dropped to zero. Downdetector says it’s […]