Ex-Swedbank CEO’s 2024 Conviction Overturned by Swedish Supreme Court
Sweden’s Supreme Court has acquitted former Swedbank chief executive Birgitte Bonnesen, overturning the only prison conviction handed to a senior Nordic banker in connection with one of Europe’s biggest money-laundering scandals.
A Decade on, Nordic Banks Emerge from Russian Money-Laundering Scandal
Nordic banks are finally beginning to move past the Baltic money-laundering scandal that engulfed the region’s financial sector, after nearly a decade of probes, fines, management upheaval, and costly compliance overhauls.
Five Banking Giants Tied to Alleged Iran Sanctions-Evasion Scheme
Five of the world’s largest banks have been drawn into allegations that they unwittingly processed payments tied to a sanctions-evasion and money-laundering scheme benefiting Iran.
Deutsche Bank Self-Reports Possible Russia Sanctions Violations
Deutsche Bank has alerted financial regulators of potential breaches of EU sanctions rules involving Russian clients after discovering that its retail unit had accepted deposits of more than €100,000 from individuals subject to the bloc-wide prohibitions.
IMF Calls for Stronger Interbank Data-Sharing to Combat Rising Digital Fraud
The International Monetary Fund has urged banks to share more threat and transaction data with one another, arguing in a recent working paper that the sector’s response to fast-rising digital fraud is weakened by information silos within institutions and across borders.
Why Anthropic Came to View Its Latest AI Model as a National Security Risk
Anthropic withheld its new artificial intelligence model, Mythos, from a broad public release after internal testing showed it could autonomously find and exploit serious software flaws, alarming company researchers and prompting banks and government agencies to move quickly to assess the threat.
AMLA Seeks Feedback on Risk Assessments and Cross-Border Compliance
The European Union’s new anti-money-laundering (AML) supervisor on Thursday launched two consultations on draft rules intended to tighten how companies assess their financial-crime risks and apply compliance controls across corporate groups.
Handelsbanken Dinged for ‘Serious’ AML Deficiencies
Norway’s financial watchdog has found “serious deficiencies” in anti-money-laundering compliance at Svenska Handelsbanken AB’s Norwegian branch.
U.S. Treasury to End Cyber Threat-Sharing Feed for Banks
The U.S. Treasury Department is shutting down a program that shared cybersecurity threat intelligence with banks and other financial firms after cutting its funding.
Bessent Says E.O. on Banks Collecting Citizenship Proof Is ‘in Process’
Treasury Secretary Scott Bessent said an executive order that would require banks to collect proof of citizenship from customers is “in process,” Bloomberg reported, describing a potentially sweeping new compliance mandate for U.S. financial institutions.