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Financial Crime
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Divided US Fed splits on supervisory rating framework
A US Federal Reserve that has become increasingly divided on regulatory matters during the Trump administration issued a bank-friendly proposal yesterday to revise ... (more story)
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UK banks get new guidance on 'politically exposed persons' in wake of Farage spat
UK banks and other financial services firms received fresh regulatory guidance today on how to treat "politically exposed persons," or PEPs, for anti-money launderi... (more story)
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US Supreme Court’s nationwide injunction opinion impacts agency rulemaking
A US Supreme Court opinion that federal court judges lack authority to impose universal injunctions won't stop those judges from issuing injunctions in data privacy... (more story)
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The GENIUS Act, which passed the US House today following passage in the Senate last month, would let private companies issue stablecoins — a prospect that has alarmed some Democratic lawmakers who fear it wou... (more story)
An FBI agent specializing in cybercrime investigations traced the flow of more than $1 billion stolen in hacking incidents to the Tornado Cash cryptocurrency mixer during the US trial today of co-founder Roman... (more story)
Facebook executives and a group of shareholders reached a settlement today in litigation alleging Facebook prioritized Chief Executive Mark Zuckerberg and other senior leadership over the company’s fiduciary r... (more story)
Former UBS and Citigroup trader Tom Hayes will find out next week whether he has been successful in overturning his jailing for rigging a key benchmark interest rate. Hayes has persistently protested his innoc... (more story)
A man who carried out a rug pull using non-fungible tokens testified at the US trial of Tornado Cash co-founder Roman Storm that he used the cryptocurrency mixer to launder $1.1 million in stolen proceeds.
Eurasian Natural Resources Corporation said today it had suffered a huge “prejudice” following a January ruling in its long-running legal battle with the UK fraud agency that saw almost $130 million knocked of... (more story)
Barclays Bank has been fined a total of 42 million pounds ($56.3 million) by the UK's financial markets watchdog over failings in its money laundering processes. The Financial Conduct Authority said it had fin... (more story)
Tornado Cash co-founder Roman Storm knew his cryptocurrency mixer was being used by criminals to launder their dirty money, prosecutors said today at the start of his US trial, while the defense said he had no... (more story)
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The actions of Facebook Chief Executive Mark Zuckerberg and the company's board as the company made privacy moves during the past decade will face extreme scrutiny in an $8 billion US trial over claims by inve... (more story)
Federal prosecutors are pushing back on claims from a Georgia businessman that a US Supreme Court decision legalizing gratuities to public officials in the US also authorizes payments to foreign officials. The... (more story)
A US Supreme Court opinion that federal court judges lack authority to impose universal injunctions won't stop those judges from issuing injunctions in data privacy disputes or run-of-the-mill antitrust cases ... (more story)
Former Barclays boss Jes Staley's failure to persuade a UK court to overturn an industry ban over his links to Jeffrey Epstein is a vindication for the country's financial services regulator — and will likely ... (more story)
In a US trial of a cryptocurrency entrepreneur that centers on the alleged laundering of funds stolen by a blacklisted North Korean hacking group, the businessman is asking a federal judge to prevent the gover... (more story)
When Denmark takes the reins of EU policy talks on July 1, it will scrutinize the new securitization package proposal while also addressing several contentious financial reforms from the previous term. These i... (more story)
A San Francisco venture capital firm turned to lawyers in 2018 for an opinion on whether US sanctions imposed on a Russian billionaire would apply to its investments. The advice GVA Capital received was incorr... (more story)
The UK fraud prosecutor appears to have ditched its aversion to assisting companies worried about falling foul of the law to ensure their compliance processes are up to scratch. A senior Serious Fraud Office o... (more story)