Epstein Revelations Spur Criminal Investigations and an Ex-Royal Arrest
The fallout of the release of the Epstein Files continued this week, with emergence of new details of the deceased sex trafficker’s finances, the launch of additional investigations into suspicious money flows and related sexual-abuse allegations, and the arrest of a former British royal.
The Mexican Billionaire Who Says He Lost Big to a Lombard-Loan Swindle
Ricardo Salinas Pliego, the Mexican billionaire behind Grupo Elektra, thought he’d done enough due diligence when he decided to invest $400 million in Bitcoin as the value of the cryptocurrency surged in the spring of 2021.
How Hong Kong Firms Bypass Trade Restrictions to Fuel Russia’s War Machine
Asian trading networks continue to route European-made dual-use technology into Russia’s war economy, exploiting gaps in the continent’s sanctions designations and enforcement, according to new research published by the Committee for Freedom in Hong Kong (CFHK) Foundation.
Basel Committee Calls for Close Monitoring of Synthetic Risk Transfers
The Basel Committee on Banking Supervision is warning that a fast-growing market for banks to offload credit risk to private investment funds needs close monitoring because it is creating new vulnerabilities for the global financial system.
Ukraine Levies Sanctions on Belarus Leader Lukashenko Over Russia Support
Ukraine has imposed sanctions on Alexander Lukashenko, with President Volodymyr Zelenskyy accusing the Belarusian leader of playing an increasingly larger role in Russia’s war efforts, UNITED24 Media reported.
Stablecoins: The Crypto of Choice for Sanctions Dodgers and Large-Scale Launderers
Stablecoins have become both core crypto “plumbing” and a key rail for the most consequential forms of crypto-enabled crime, with illicit activity increasingly concentrated in a handful of large, sanctions-linked networks.
Florida Officials Put Sanctions Pressure on Businesses with Cuban Ties
South Florida Republican officials are pressing for tougher scrutiny of businesses that send goods or provide services linked to Cuba, the Miami Herald reported.
Bank Records Bolster Claims of Adani Group Stock Manipulation
As allegations swirled in 2023 that the Adani Group’s yearslong stock rally was driven by insider manipulation, two close associates of the Adani family privately admitted to their bankers that they held billions of dollars in the conglomerate’s shares through multiple hedge funds, according to bank records.
Tariffs and Complex Rules are Driving Demand for Trade-Compliance Experts
Businesses attempting to navigate the shifting shoals of international tariffs, sanctions, and export controls are increasingly turning to trade-compliance professionals for guidance.
U.S. Oversight of MSBs is Weakest in Years as Crypto Usage Surges
Cryptocurrency usage is surging in the United States. You wouldn’t know that from the number of federal examiners tasked with supervising the industry for anti-money-laundering (AML) compliance though.