AML

Chinese authorities have arrested the former chairman of Cambodia’s Huione Group, a financial conglomerate identified as a central player in a global money-laundering network, in the latest escalation of Beijing’s campaign against transnational organized crime in Southeast Asia, The New York Times said.  Li Xiong, a Chinese national and former chairman of Huione Group, was […]

The U.S. Commodity Futures Trading Commission (CFTC) will prioritize enforcement against insider trading in prediction markets, manipulation in energy markets, spoofing, retail fraud, and willful violations of anti-money-laundering (AML) laws, the agency’s new enforcement director said Tuesday. 

Malta is mounting an unusually public fight against a European Union push to centralize crypto supervision, arguing the move would strip the island-nation of oversight over major digital-asset firms it helped attract and regulate.

Federal Reserve Governor Michael Barr warned on Tuesday that stablecoins pose risks related to money laundering, financial stability, and reserve quality, as U.S. banking agencies work on regulations to implement new federal rules for the sector.

A Malaysian court on Tuesday ordered jailed former Prime Minister Najib Razak to pay $1.3 billion to SRC International, a former unit of scandal-linked state fund 1MDB, after finding him liable for losses incurred by the company.

U.S. authorities have charged an alleged hacker in connection with a 2021 exploit of decentralized exchange Uranium Finance that drained about $53 million in crypto and helped force the platform to shut down.

Two Democratic U.S. senators pressed Securities and Exchange Commission Chairman Paul Atkins on Monday to explain the abrupt resignation of the agency’s enforcement director and whether it was tied to the SEC’s pullback from cryptocurrency cases linked to Donald Trump.

The U.S. Financial Crimes Enforcement Network (FinCEN) on Monday issued an advisory urging banks and other financial institutions to step up detection and reporting of healthcare fraud tied to Medicare, Medicaid and other public health benefit programs.

Hungary has recovered and returned less than a fifth of EU funds flagged for potential fraud over the past decade, according to data from the bloc’s anti-fraud watchdog reported by the Financial Times. 

The trial of Russian businessman Dmitry Klyuev, accused by French prosecutors of laundering proceeds of the $230 million Magnitsky Affair fraud through luxury purchases in France, opened in Paris on Monday.