Charles Schwab and the Palace Epstein Tried to Buy Days Before His Arrest
Long after his 2008 conviction for procuring a minor for prostitution and just days before his final arrest in 2019, Jeffrey Epstein had his eyes on a palace in Morocco. He wanted to buy it, but he needed help.
Goldman Sachs Turns to AI’s Claude to Bolster Compliance and Accounting Work
Goldman Sachs has been working with artificial intelligence startup Anthropic for the past six months to co-develop autonomous “AI agents” intended to automate trade and transaction accounting and client vetting and onboarding.
EU’s New AML Supervisor Set for Full Launch in 2028
The European Union’s new Anti-Money Laundering Authority said it is on track to become fully operational in 2028, setting out a multi-year plan that flags emerging illicit-finance threats ranging from crypto-assets to “novel payment channels.”
In Fiscal 2025, IRS-CI Saw Sharp Rise in Tax Fraud and Other Financial Crimes
The Internal Revenue Service Criminal Investigations (IRS-CI) division identified $10.6 billion in tax and other financial crimes in the federal fiscal year ending September 30, a rise of nearly 16% from the prior year.
UK to Take on Dirty Money with AI, Facilitator Crackdown
The UK government is taking aim at corrupt bankers, lawyers, and accountants and deploying new tech tools to identify dirty money as part of a new strategy to root out tens of billions in illicit funds entering the country each year.
FCA to Take Over AML Supervision for UK Professional Bodies
The Financial Conduct Authority (FCA) will serve as the sole anti-money laundering (AML) and counterterrorist-financing (CTF) supervisor for the UK’s legal, accountancy and trust and company service provider sectors.
Ex–Ronald McDonald House Director Charged with Stealing from Charity
The former executive director of Ronald McDonald House Charities of Marshfield, Wisconsin, has been charged with taking over $100,000 from the nonprofit.
Singapore Convicts Two in Wirecard Forgery Case
A Singapore court on Monday convicted two businessmen of falsifying documents that misled auditor EY into believing Wirecard held substantial cash in Singapore bank accounts.
KPMG Turned Blind Eye to Regional Bank Flaws: Senate Report
KPMG overlooked serious risks at three regional banks that collapsed in 2023, a U.S. Senate report has found, raising questions about the quality of oversight by one of the world’s largest audit firms.