Lenders

Ricardo Salinas Pliego, the Mexican billionaire behind Grupo Elektra, thought he’d done enough due diligence when he decided to invest $400 million in Bitcoin as the value of the cryptocurrency surged in the spring of 2021. 

The Basel Committee on Banking Supervision is warning that a fast-growing market for banks to offload credit risk to private investment funds needs close monitoring because it is creating new vulnerabilities for the global financial system.

Ukraine has imposed sanctions on Alexander Lukashenko, with President Volodymyr Zelenskyy accusing the Belarusian leader of playing an increasingly larger role in Russia’s war efforts, UNITED24 Media reported. 

Businesses attempting to navigate the shifting shoals of international tariffs, sanctions, and export controls are increasingly turning to trade-compliance professionals for guidance.

Senior UK banking figures are set to hold their first meeting this week to establish a British alternative to Visa and Mastercard, amid growing concerns that U.S. President Donald Trump could one day use his position to close off access to the payment rails.

Belgian prosecutors have charged two people close to former European Commissioner Didier Reynders as part of a money-laundering investigation that until now had focused on Reynders alone.

The U.S. Office of Foreign Assets Control (OFAC) on Friday issued a general license clearing the way for certain large oil companies to invest in new operations in Venezuela. 

Elon Musk’s social-media company, X, appears to have violated U.S. sanctions by selling “Premium” subscriptions to accounts linked to Iranian government officials and state entities, according to a Tech Transparency Project (TTP) report. 

Deutsche Bank continued providing services to Jeffrey Epstein for months after telling the disgraced financier it would end its relationship with him in late 2018 and only moved to terminate all of his accounts following his final arrest in July 2019.

The Federal Reserve has told banks it plans to review and potentially drop some outstanding confidential supervisory warnings, as Vice Chair Michelle Bowman pushes to refocus oversight on near-term threats to lenders’ financial condition.