AML

Prosecutors in Taiwan have indicted 10 people accused of operating a cross-border money laundering network that used Macau casinos and credit cards to launder more than $1 billion in funds.

The trial of former U.S. Congressman David Rivera started Monday in Miami as the Florida Republican faces charges that he illegally lobbied American officials on behalf of Venezuelan interests without registering as a foreign agent.

A U.S. judge has struck down a Treasury Department rule that required disclosure of the beneficial owners of companies making all-cash real estate purchases, dealing a setback to a Biden-era effort to curb money laundering through the property market.

Britain’s financial regulator has opened an investigation into collapsed mortgage lender Market Financial Solutions, marking the first formal regulatory probe into the Mayfair-based group after its failure amid fraud allegations.

Chelsea FC were fined £10.75 million and handed a suspended transfer ban by the Premier League over undisclosed payments made during Roman Abramovich’s ownership, in a case that drew renewed attention to offshore money flows and hidden financial arrangements in football.

Switzerland has approved its first comprehensive national strategy for fighting money laundering and terrorist financing, the country’s Federal Council announced Friday. 

Career officials at the U.S. Treasury Department are pushing back against a Trump administration effort that could require banks to verify customers’ citizenship information, as lenders warn the idea would be costly, difficult to implement, and potentially harmful to the economy.

ING plans to cut about 1,250 jobs worldwide this year under a cost-saving program that will rely more heavily on artificial intelligence, with many of the reductions expected in anti-money-laundering operations.

A UK parliamentary committee warned on Wednesday that weaknesses in Britain’s political finance regime leave it vulnerable to illicit foreign funds, and said enforcement remains too fragmented and underpowered to deter abuse.

North Sea oil executive Francesco Mazzagatti could soon be the subject of a worldwide asset freeze stemming from a London lawsuit alleging he siphoned funds from former business partners tied to an Iranian petrochemicals business.