Investment Banks

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.

Financial firms have improved their sanctions controls but persistent weaknesses in due diligence, screening, and asset-freezing controls continue to drive compliance violations, the U.K. Financial Conduct Authority (FCA) said in a multi-firm review published Thursday.

Hong Kong has surpassed Switzerland as the world’s largest cross-border wealth-management center for the first time, driven by a surge of investment from mainland China.

Countries where bribes were paid have become the primary drivers of major cross-border bribery enforcement, according to a new OECD report that documents nearly two decades of coordinated multinational prosecutions.

Federal prosecutors in Manhattan are urging Wall Street companies to confess to fraud in exchange for behind-the-scenes deals that would spare them from criminal charges, fines, and public disclosure of their wrongdoing.

Artificial intelligence is amplifying the cyber threats facing the global financial system and could trigger a system-wide shock unless regulators and banks build stronger defenses, the International Monetary Fund warned Thursday.

The Financial Action Task Force (FATF) has removed Singapore from its enhanced follow-up list but the city-state’s beneficial-ownership safeguards, money-laundering prosecutions, and proliferation-financing controls are still falling short of the risks it faces as one of the world’s largest financial centers.

Unusual bursts of trading across oil, equities, and prediction markets repeatedly appeared shortly before some of President Donald Trump’s most market-moving public statements.

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.

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.