Bessent Says E.O. on Banks Collecting Citizenship Proof Is ‘in Process’
Treasury Secretary Scott Bessent said an executive order that would require banks to collect proof of citizenship from customers is “in process,” Bloomberg reported, describing a potentially sweeping new compliance mandate for U.S. financial institutions.
BofA Not Liable for ‘Good-Faith’ Account Closure in Sanctions Case: 9th Circuit
A U.S. appeals court on Monday ruled that Bank of America cannot be sued over its closure of an Iranian American customer’s account after finding the bank was protected by a federal liability shield for actions taken in good faith to comply with U.S. sanctions laws.
In Spain, Two Corruption Cases Highlight Parties’ Legacies of Political Graft
Two criminal trials opening in Madrid this week have put renewed focus on allegations of kickbacks, illicit party financing, and broader political corruption in Spain.
Three Greek Cabinet Ministers Resign amid EPPO Fraud Probe
Three Greek cabinet ministers resigned on Friday as a European Union investigation into alleged farm subsidy fraud widened, in a case that has intensified political pressure on the government and added to unrest in the country’s farming sector.
London Has Become an Important Destination for Iranian Funds
Iranian-linked wealth has continued to find its way into London property despite years of Western sanctions, with luxury homes, apartments, and a boutique hotel tied to figures accused by British and U.S. authorities of supporting Tehran’s sanctions-evasion networks.
U.S. Senators Want to Blacklist Hungarian Officials Holding Up Ukraine Aid
A bipartisan pair of U.S. senators is set to introduce legislation that would seek sanctions on senior Hungarian officials involved in blocking aid to Ukraine and maintaining the country’s reliance on Russian energy.
South Africa’s Top Cop Arrested for Alleged Role in Health-Services Fraud
South Africa’s national police commissioner, Fannie Masemola, has been charged in a widening corruption investigation linked to the award of a 360 million rand ($21 million) police health-services contract to a businessman already under scrutiny for tender fraud.
Italian MEP Denies Huawei Bribe Allegations
An Italian member of the European Parliament denied taking bribes from Huawei as lawmakers weigh whether to strip him of parliamentary immunity in a Belgian corruption investigation.
DEA Deems Colombia’s President Petro a ‘Priority Target’ in Drug Probe
Colombian President Gustavo Petro has been designated a “priority target” by the U.S. Drug Enforcement Administration as federal prosecutors in New York examine his alleged ties to drug traffickers.
Companies House Dissolves IRGC-Linked Crypto Firm that Cited Fake Owner
Companies House has removed cryptocurrency exchange Zedxion Exchange Ltd. from the UK’s register of businesses after an investigative report by OCCRP found the firm used a fictitious director and misleading incorporation filings to conceal links to sanctioned Iranian tycoon Babak Zanjani.