Insurance

The Trump administration is expected to extend its waiver of sanctions on Russian oil this week, according to former Treasury and State Department officials cited by Semafor, a step that could tee up a similar extension for Iranian oil later this month as the White House weighs fuel prices and broader market stability. 

Companies importing goods from China are increasingly using accounting maneuvers, middlemen, and in some cases apparent fraud to reduce the value of shipments entering the United States and cut the tariffs they owe.

Trade misinvoicing is occurring at “massive scale” across Asian supply chains, with discrepancies in reported invoice values reaching a record $1.7 trillion in 2022 across developing Asia.

Brazil’s biggest-ever bank fraud case has left the country’s banking system facing a 52 billion-real ($9.9 billion) bill after Banco Master used funds, asset sales, and other maneuvers to hide major balance-sheet problems from investors and regulators.

The U.S. Treasury Department has issued a second temporary authorization allowing buyers to take delivery of Russian oil cargoes already at sea, broadening a waiver granted last week to India alone as Washington seeks to ease pressure on crude prices during the ongoing conflict in Iran.

Signs of hospice fraud in Los Angeles County are worsening despite a state crackdown, with more than 700 of roughly 1,800 licensed hospices in the county showing multiple warning indicators identified by California auditors.

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

A newly formed group of businesses and organizations in Australia are set to team up to fight financial abuse as part of a new program that encourages collaboration to address major social and economic ills.

The EU’s Anti-Money Laundering Authority (AMLA) on Thursday published draft technical standards intended to unify how financial supervisors assess risks and how the supervisory body will select the “most complex” high-risk institutions and groups it will directly oversee. 

A New Zealand–based marine insurer played a pivotal role in keeping a fleet of tankers carrying Iranian and Russian oil moving to Asian markets despite Western sanctions, according to a Reuters investigation that has prompted scrutiny from authorities in Wellington.