U.S. Extends ‘Foreign Terrorist Organization’ Sanctions to Brazil’s Gangs
The Trump administration will designate Brazil’s two largest criminal gangs as Foreign Terrorist Organizations effective this June, U.S. Secretary of State Marco Rubio said in a statement Thursday.
Italy Seizes over €200 Million in Assets from Deceased Costra Nostra Boss
Italian authorities are seizing more than €200 million ($232 million) in assets tied to late Mafia boss Matteo Messina Denaro, including funds derived from drug trafficking and laundered across Europe and beyond.
The Pentagon Gave a $620-Million Loan to Startup Linked to Donald Trump Jr.
A senior White House adviser personally directed the Pentagon to extend a $620 million loan to Vulcan Elements, a North Carolina rare-earth magnet startup partly owned by a venture firm tied to Donald Trump Jr.
FCA Sees Industry Weaknesses in Sanctions Due Diligence, Trade Compliance
Financial firms have improved their sanctions controls but persistent weaknesses in due diligence, screening, and asset-freezing controls continue to drive compliance violations, the U.K. Financial Conduct Authority (FCA) said in a multi-firm review published Thursday.
Hong Kong Is Now the World’s Largest Hub of Offshore Wealth
Hong Kong has surpassed Switzerland as the world’s largest cross-border wealth-management center for the first time, driven by a surge of investment from mainland China.
Is the Trump Administration Unraveling DOJ’s Landmark FIFA Bribery Case?
A federal court in Brooklyn vacated corruption charges Wednesday against two defendants convicted in the U.S. crackdown on FIFA bribery, after the Trump administration said the cases no longer fit its prosecutorial priorities.
Trump Administration Reimposes Sanctions on U.N. Special Rapporteur Albanese
The Trump administration has re-added a United Nations human rights official to the U.S. sanctions blacklist just one week after quietly removing her, and less than two weeks after a federal judge ruled the original designation unconstitutional.
BIS and Banks Will Soon Begin Testing Blockchain-Backed Payments Platform
A landmark public-private initiative convened by the Bank for International Settlements (BIS) and the Institute of International Finance will soon begin testing a tokenized payment platform for cross-border settlements across multiple currencies and jurisdictions.
U.S. Fuel Trader Under Investigation for Suspected Ties to Cartel Smuggling
A Houston-based petroleum trader raided last month by U.S. federal agents is under investigation in Mexico in connection with a suspected fuel smuggling scheme linked to the Jalisco New Generation Cartel (CJNG).
Major Crypto Firms Worked with Bitcoin ATM Operators Tied to Scams
Mainstream cryptocurrency companies including Kraken, Gemini, and Cumberland DRW transferred billions of dollars in bitcoin to ATM operators that authorities have repeatedly accused of facilitating scams targeting elderly and vulnerable Americans.