Council of Europe Warns of Surge in Trafficking for Forced Criminality
Human trafficking for the purpose of forcing victims to commit crimes is rising across Europe and demands urgent government action to protect victims and prevent their prosecution, the Council of Europe’s Group of Experts on Action against Trafficking in Human Beings said Friday in its 15th annual report.
SPOTLIGHT
World Cup Puts Mexico’s Cartel Crisis on the Global Stage
Monaco Investigates $11 Million Deal by Sanctioned Billionaire’s Grandson
U.K. Targets $68M in Properties Owned by China-Born Man with Multiple Citizenships
Bithumb CEO Booked as Suspect Over South Korea Bribery Case
HSBC Said to Have $400 Million Exposure to Ailing UAE Firm IFFCO
ILLICIT FINANCE
SANCTIONS
U.S. Sanctions Cuba’s State Oil Company as U.N. Flags Rising Child Death Rate
U.S. Formally Seeks Dismissal of Halkbank Sanctions Case
EU Proposes 21st Russia Sanctions Package, Targeting Banks and Crypto Networks
Four Nations Impose Sanctions over West Bank Settler Violence
OVERSIGHT
DOCUMENTS
FinCEN Issues Guidance to Help Financial Institutions Eliminate Fraud Through Information Sharing
DOJ: Two Charged in Connection With AudiA6 Cryptocurrency Money Laundering Service
DOJ: Ukrainian National Pleads Guilty to Wire Fraud Conspiracy in Connection with Conti Ransomware
FCA: Court Orders Appointment of Special Administrators for Euro Exchange Securities UK Limited
GRETA: 15th General Report
CRYPTO
FINMA Issues New AML Guidance after Finding Firms Are Mishandling Risks
FCA Warns Premier League Clubs Over Unauthorized Crypto and Trading Sponsors
OFAC Blacklists Iran’s Largest Crypto Exchange, DRC Rebel Commanders
CFTC Seeks to Vacate Gemini’s $5mn Enforcement Following Winklevoss Ask
BIS and Banks Will Soon Begin Testing Blockchain-Backed Payments Platform
TECH
Hungary Deploys AI to Track Alleged Orbán-Era Corruption and Fraud
Major Crypto Firms Worked with Bitcoin ATM Operators Tied to Scams
Conviction of Ex-Austrian Agent Turns Another Page in Wirecard ‘Spy Novel’
Bitcoin Depot Files for Bankruptcy, Shuts Down After Regulatory Crackdown
RISK MANAGEMENT
UBS Halves Asia Sustainability Team in Global ESG Pullback
UBS Group AG has cut its Asia sustainability office by half in recent months, part of a wider global retreat from dedicated Environmental, Social, and Governance (ESG) operations that has followed the bank’s integration of Credit Suisse.
Emerging Threats
LEGAL MATTERS
BRIBERY & CORRUPTION
Morgan Stanley, European Banks Drawn Into Probe of Alleged Bolloré Bribery
Morgan Stanley and several European banks risk being drawn into a French criminal investigation over the 2022 sale of Vincent Bolloré’s African transport and logistics business, as an anti-corruption association seeks to compel them to hand over internal documents related to the €5.7-billion transaction.
SCAM CENTERS
Swiss Prosecutors Raid Gunvor’s Geneva Offices in Bribery Probe
Swiss prosecutors raided the Geneva offices of commodity trader Gunvor as part of a criminal investigation into suspected bribery of foreign public officials, dealing a fresh blow to the company’s efforts to rehabilitate its reputation following a series of prior corruption convictions.
FRAUD
More in Certain Risk
Treasury Rejects GAO Findings on Shell-Company Risks Tied to CTA Rollback
UK May Force Crown Dependencies, Territories on Beneficial Ownership
Panama Seeks to Shed a Bad Reputation with New Shell-Company Tax
Wise Under Investigation Over Half a Billion Euros in Suspicious Transactions
FTI Consulting Pays $1.05mn to Settle OFAC Violations Tied to VTB Bank
