Lenders

Switzerland’s financial markets regulator published supplementary guidance on money laundering risk analysis Wednesday, flagging persistent weaknesses in how banks and other financial institutions define risk tolerance and assess inherent risks.

The House voted Wednesday to take up legislation that would impose sweeping new sanctions on Russia and provide additional aid to Ukraine, as six Republicans and an independent broke with party leaders to join Democrats in forcing the measure to the floor.

A March 2025 Treasury Department rule exempting virtually all U.S. companies from beneficial ownership reporting requirements has created significant gaps in the federal government’s ability to combat shell company abuse, the Government Accountability Office (GAO) has warned in a new report. 

The United Kingdom government warned it could legislate to compel its Crown Dependencies and Overseas Territories to adopt public registers of beneficial ownership if voluntary efforts continue to stall, the prime minister’s anti-corruption champion said.

Panama has enacted a 15 percent tax on corporations without domestic activities, targeting shell companies used by wealthy foreigners to shield profits earned abroad, as the country seeks to shed its tax-haven reputation and exit a European Union blacklist.

Digital money transfer giant Wise is under criminal investigation by Belgian prosecutors over concerns that its accounts were used by international criminal organizations to launder proceeds of fraud, corruption, and drug trafficking.

The U.S. Treasury Department on Tuesday sanctioned Nobitex, Iran’s largest digital asset exchange, accusing the platform of helping Tehran evade sanctions and facilitate terrorist financing and ransomware attacks. 

An employee of Banco Santander’s Chile unit was among 18 suspects detained Tuesday as Chilean authorities moved against an alleged $85-million money-laundering network tied to the Venezuelan criminal organization Tren de Aragua.

FTI Consulting, Inc. has agreed to pay $1,050,000 to settle potential civil liability for apparent violations of U.S. sanctions on Russia’s financial sector, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced Monday.

The chief executive of KPMG’s Australian arm and its national audit leader have resigned after the Big Four firm admitted its investigation into whistleblower allegations of data misuse had fallen short of its standards.