Mexico Freezes Funds of Miss Universe Co-Owner in Organized-Crime Probe
Mexico’s anti-money laundering unit has frozen the bank accounts of Raúl Rocha Cantú, the Mexican co-owner of the Miss Universe Organization, as authorities investigate alleged links to drug, fuel and arms trafficking, the Associated Press reported.
Santander to Pay €22.5 Million to Settle French Tax Fraud Case
Spanish lender Santander has agreed to pay €22.5 million ($26.18 million) to settle a long-running tax fraud case in France, bringing to a close an investigation that began more than a decade ago, according to Reuters.
Nigeria to Tighten Bank Cash Withdrawal Limits
Nigeria’s central bank has unveiled sweeping new cash withdrawal limits and related rule changes aimed at curbing cash dependence and reducing security and money-laundering risks, according to Reuters.
China Signals Crypto Crackdown, Flags Stablecoins
China’s central bank has restated its hard line on cryptocurrencies, warning that a renewed wave of speculation is testing regulators and vowing tougher action against illegal activities involving stablecoins, according to Reuters.
UBS and Credit Suisse Compliance Officer Face Charges Over Mozambique Bonds Scandal
Switzerland’s attorney general has filed criminal charges against UBS and a former Credit Suisse compliance officer, alleging failures to prevent money laundering linked to the long-running Mozambique “tuna bonds” scandal, according to The Wall Street Journal.
UN Special Rapporteur Calls for End of U.S. Sanctions on Cuba
United Nations expert is calling for the United States to lift its decades-old sanctions on Cuba, citing their corrosive impact on the country’s populace and economic future, Al Jazeera reported.
Binance Founder Changpeng Zhao Sued in Over Alleged ‘Assistance’ to Hamas
Families of Americans killed, injured or taken hostage in Hamas’s October, 7 2023 attack on Israel have accused Binance founder Changpeng “CZ” Zhao and his cryptocurrency exchange of helping militant groups move millions of dollars, according to the Financial Times.
Trafigura Staff Flagged Gupta’s Nickel Deals Years Before Alleged Fraud
Trafigura Group’s own trade-finance staff raised red flags about its nickel deals with businessman Prateek Gupta more than two years before the trading house revealed it was facing millions of dollars in losses.
FCA to Overhaul Transaction Reporting
The UK’s Financial Conduct Authority (FCA) has launched a consultation to overhaul the country’s transaction reporting regime, promising both stronger tools to combat financial crime and a lighter reporting burden for firms.
Singapore Court Okays $2.7-Billion Lawsuit Against Standard Chartered for 1MDB Role
A Singapore court has allowed a $2.7-billion lawsuit against Standard Chartered Bank to proceed over its alleged role in the looting of Malaysia’s 1MDB sovereign fund, according to Reuters.