A former Citibank relationship manager has been sentenced to two years in prison for his role in one of Singapore’s largest-ever money-laundering scandals, according to…
UK’s Anti-Money Laundering Shake-Up Faces Backlash from Legal and Accounting Sectors
According to the Financial Times, law firms and accounting organizations across the United Kingdom are pushing back against a Treasury plan to give the Financial…
Bank of Ireland doubles provision for UK motor finance scandal to £350 million
The Bank of Ireland announced on Monday that it has sharply increased its provision related to the UK motor finance commission scandal, setting aside £350…
AI misuse fuels Southeast Asia scam operations, according to Reuters investigation
A Reuters investigation uncovered how criminal networks in Southeast Asia are using ChatGPT to run global fraud operations while forcing trafficked workers to participate. Kenyan…
Nestlé to Slash 16,000 Jobs as New CEO Tries to Reignite Investor Confidence
Swiss food giant Nestlé has announced plans to eliminate 16,000 jobs worldwide, a sweeping cost-cutting move that marks the first major act by new CEO…
UK Strikes Russia’s Arctic LNG Network as U.S. Stays Silent and EU Wavers
The United Kingdom has taken the lead among Western powers in escalating pressure on Russia’s energy exports, unveiling a sweeping sanctions package targeting the country’s…
Swiss Court Strikes Down $20 Billion Credit Suisse Bond Wipeout: A Warning Shot to Regulators
In a ruling that could reshape investor trust in Switzerland’s banking sector, the Federal Administrative Court said the 2023 decision to erase Credit Suisse’s Additional…
Brazil’s Federal Police dismantle $540 million crypto laundering network in “Operation Lusocoin”
Brazil’s Federal Police have broken up a massive cryptocurrency-based money-laundering operation that moved more than 50 billion reais (about USD 9 billion) through a network…
Libyan Central Bank calls for swift approval of anti–money laundering laws
Libya’s Central Bank has urged authorities to fast-track the adoption of new legislation to combat money laundering and terrorism financing, warning that further delays could…
EU prosecutors charge suspects in €280,000 subsidy fraud involving fake children’s projects
The European Public Prosecutor’s Office (EPPO) in Ostrava, Czechia, has charged two individuals and one company with subsidy fraud and damaging the financial interests of…