U.S. Formally Seeks Dismissal of Halkbank Sanctions Case
The U.S. Department of Justice formally asked a federal judge Wednesday to dismiss its criminal case against Halkbank, telling the court it has no intention of prosecuting the Turkish state-run lender.
Crime Groups Now Have Hands on Every Part of Global Gold Supply Chain
Criminal syndicates have embedded themselves so deeply in the global gold supply chain that the regulatory frameworks designed to contain them are fundamentally inadequate, according to a new report by the Global Initiative Against Transnational Organized Crime (GI-TOC).
EU Proposes 21st Russia Sanctions Package, Targeting Banks and Crypto Networks
The European Union has proposed a sweeping 21st package of sanctions against Russia, with a record-setting wave of bank listings at its core and new measures targeting cryptocurrency platforms, oil traders, and shadow fleet vessels.
Moroccan Bank Pays €175mn to Settle Probe Over Unauthorized Banking
Morocco’s Banque Centrale Populaire (BCP) has agreed to pay €175,215,571 to settle a Belgian criminal investigation into the bank and its French subsidiary over nearly two decades of alleged unauthorized banking operations serving tens of thousands of Belgian clients.
Chile Rethinks Bank Secrecy as Tren de Aragua Probe Points to Insider Recruitment
The arrest of bank employees with alleged ties to Venezuela’s Tren de Aragua criminal organization has reignited debate over Chile’s financial secrecy rules, which are among the most restrictive in the world.
Hungary Deploys AI to Track Alleged Orbán-Era Corruption and Fraud
Hungary’s Integrity Authority has developed an artificial intelligence and machine-learning platform to track Hungary’s financial flows in real time as it works to trace an estimated €160 billion in public funds alleged to have been misappropriated during former Prime Minister Viktor Orbán’s 16 years in power.
Four Nations Impose Sanctions over West Bank Settler Violence
Britain, Canada, France, and Norway on Tuesday announced coordinated sanctions targeting Israeli networks accused of financing, enabling, and carrying out violence in the Israeli-occupied West Bank.
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.
HSBC Charged in French Probe Tied to Ex-Lebanese Central Bank Governor
French judges have formally charged HSBC Private Bank Suisse with organized money laundering and criminal conspiracy in connection with the alleged embezzlement of $330 million from Lebanon’s central bank by its former governor Riad Salameh.
Danish Prosecutors Seek Record Penalty for Alleged AML Failures at Nordea
Danish prosecutors are seeking a 6.6 billion krone ($1 billion) fine against Nordea Bank for a series of anti-money-laundering (AML) failures, in what authorities describe as the largest-ever criminal case ever brought against a bank in Denmark.