Law Firms

UBS AG said it will not hand over privileged documents sought in an investigation into Credit Suisse’s handling of Nazi-linked accounts after a U.S. judge declined to give the bank assurances that doing so would not expose it to new legal claims.

Hackers infiltrated Washington, D.C.-based Jones Day and stole data on 10 of its clients via a phishing-related cyberattack.

Ten years after the Panama Papers exposed the offshore financial system exploited by tax cheats and criminals around the world, prosecutions and transparency reforms tied to the landmark investigation are still unfolding.

The trial of Russian businessman Dmitry Klyuev, accused by French prosecutors of laundering proceeds of the $230 million Magnitsky Affair fraud through luxury purchases in France, opened in Paris on Monday. 

Elon Musk’s lawyers sought to negotiate a settlement of the SEC’s case over his delayed disclosure of a Twitter stake without fully involving the agency’s litigation team, an unusual approach that surfaced in federal court earlier this month.

The Justice Department released its first department-wide corporate enforcement policy for criminal matters, establishing a uniform framework for how prosecutors handle corporate cases across the department, except antitrust matters. 

The UK’s current system of supervisors overseeing the anti-money-laundering (AML) programs of law firms, accountancies, and other professional bodies is failing to take “sufficiently dissuasive disciplinary measures” against those that fail to meet compliance standards, according to a new report. 

Australia’s booming cocaine consumption among affluent professionals has helped turn the country into the world’s unlikely cocaine capital, fueling criminal networks linked to murder, human trafficking, and extortion.

The European Union’s new Anti-Money Laundering Authority said it is on track to become fully operational in 2028, setting out a multi-year plan that flags emerging illicit-finance threats ranging from crypto-assets to “novel payment channels.”

UK law firms are preparing for more stringent oversight of their anti-money laundering (AML) programs after the Financial Conduct Authority (FCA) was designated as the compliance supervisor for the legal sector, The Guardian reported.