Lenders

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.

FinCEN Files investigation revealed how U.S. banks helped move illicit money worldwide, U.S. authorities are rolling back key reforms enacted in its aftermath, sparking alarm among transparency advocates.

OFAC sanctioned two Iranian financial facilitators and more than a dozen individuals and entities based in Hong Kong and the United Arab Emirates for moving funds that allegedly benefited Iran’s military. 

Georgia’s ex‑Defense Minister Juansher Burchuladze has been arrested on charges of money laundering and abuse of power, OCCRP said. 

The United Kingdom imposed a new package of 100 sanctions aimed at curbing Russia’s ability to finance and sustain its war against Ukraine.

Swiss lawmakers are seeking to dilute key government proposals aimed at combating financial crime, arguing that stricter regulations threaten the country’s dominance in the global wealth management sector, according to Reuters. 

Republican lawmakers are intensifying calls for President Donald Trump to impose sweeping sanctions on Moscow following the recent incursion of Russian drones into Polish airspace.

The European Commission is preparing to target several independent Chinese refineries in its forthcoming sanctions package against Russia, Reuters reported, citing unnamed EU officials.

The Federal Reserve terminated a 2019 enforcement action against Sumitomo Mitsui Banking Corp. (SMBC), concluding a six-year period of heightened scrutiny over the institution’s anti-money laundering (AML) practices. 

A Republican lawmaker is urging the U.S. Treasury Department to investigate two Chinese firms tied to the booming Bitcoin mining industry.