British Man Pleads Guilty in New York to $99 Million Wine Fraud
A British national pleaded guilty on Tuesday in Brooklyn federal court for his role in a fraud scheme that took nearly $100 million from victims who funded loans to fake wine collectors, Reuters said.
Son of Alleged Uyghur Kingpin Spent Millions on Mosque and Cultural Center in London
The son of a Chinese-born Uyghur oligarch who allegedly ran a massive smuggling and money-laundering ring has purchased a former church in North London for more than $3 million and converted it into a mosque and cultural center, OCCRP reported.
FDIC Moves to Limit Bank Examiner Warnings to ‘Material’ Risks
The Federal Deposit Insurance Corp. (FDIC) proposed tightening how bank examiners issue warnings and penalties, aiming to keep supervision focused on safety and soundness, according to report by Bloomberg.
U.S. Supreme Court Clears Way for Halkbank Prosecution
The U.S. Supreme Court has declined to hear an appeal from Halkbank, leaving the lender to face criminal charges over allegations that it helped Iran evade sanctions and launder billions of dollars through the American financial system.
Brazilian Fraudsters Used Celebrity Deepfakes to Reap Millions
Police in southern Brazil have arrested four people accused of running a nationwide Instagram ad scam that used AI-generated videos and images of supermodel Gisele Bündchen and other celebrities, Reuters reported.
How a Secret Chinese Barter Arrangement Helps Iran Skirt U.S. Sanctions
China has quietly built a financial workaround allowing it to keep paying for Iranian oil despite sweeping U.S. sanctions, according to new reporting by The Wall Street Journal.
Monzo Mulls Fresh U.S. Banking License Bid Amid Deregulatory Shift
UK digital bank Monzo is weighing a fresh attempt to secure a US banking license, four years after abandoning its previous bid when talks with regulators stalled, according to the Financial Times.
As Illegal Gold Mining Grows in the Western Hemisphere, So Do AML Risks
Illegal gold mining has grown into one of the Western Hemisphere’s largest and fastest‑expanding illicit economies, out‑earning narcotics in parts of Colombia and Peru and pushing conflict‑linked gold toward U.S. ports and banks.
Congress Expected to Subpoena Banks Linked to Epstein
Jeffrey Epstein remained embedded in Wall Street’s elite financial networks in the years before his 2019 death, maintaining accounts at more than 20 banks and executing large transactions with prominent investment firms, according to new reporting by The Wall Street Journal.
Report Alleges Trump’s Ambassador Shielded Bukele From Investigation
A previously undisclosed report by the Inspector General for the U.S. State Department and officials interviewed by ProPublica allege that former Ambassador to El Salvador Ronald D. Johnson protected Salvadoran President Nayib Bukele from American and Salvadoran law enforcement efforts.