Westpac Hit with A$20-Million Fine over Home‑Loan Violations
Australia’s Federal Court has ordered Westpac’s mortgage brand RAMS Financial Group to pay A$20 million (about US$13 million) after finding widespread breaches in the way it arranged home loans, including approvals supported by falsified pay slips, Reuters said.
EU Lawmakers Urge Tougher Global Crackdown on Wildlife Trafficking
European lawmakers will push for wildlife trafficking to be recognized as organized crime by 2030 and for tougher global enforcement at next month’s United Nations meeting on endangered species, Euronews reported.
U.S. Sanctions Colombia’s President, Alleging Aid to Drug Traffickers
The U.S. Treasury Department designated Colombian President Gustavo Petro and several of his family members and associates, alleging his policies have fueled record cocaine production and benefited narco-traffickers.
Ex-Citi Banker Jailed in Singapore for Laundering Funds Linked to Chinese Syndicate
A former Citibank relationship manager has pleaded guilty and been sentenced to two years in jail for helping a Chinese criminal network launder money in Singapore, the Financial Times reported.
FinCEN Flags $9-Billion Iranian ‘Shadow Banking’ Network
The U.S. Treasury Department disclosed the existence of roughly $9 billion in 2024 financial activity tied to Iranian “shadow banking,” mapping a web of front companies and intermediaries used to sell sanctioned oil, launder illicit proceeds, and procure banned technology.
OCC Ends Final Wells Fargo Fake-Accounts Case Without a Fine
The U.S. Office of the Comptroller of the Currency (OCC) has settled its last remaining enforcement action tied to Wells Fargo’s 2016 fake-accounts scandal without imposing a fine, Banking Dive reported.
Trump Pardons Binance Founder Changpeng Zhao
President Donald Trump has granted a pardon to Changpeng “CZ” Zhao, the founder of Binance, after months of behind-the-scenes efforts by Zhao and his allies to secure clemency.
Fraudsters Used Melania Trump as ‘Window Dressing’ in Memecoin Scam: Lawsuit
A new legal filing alleges that a cryptocurrency promoted in January by U.S. First Lady Melania Trump was part of a sophisticated scheme that used celebrity association to lend legitimacy to token launches, according to Wired.
U.S. Slaps Sweeping Sanctions on Russia’s Lukoil and Rosneft as Ukraine Talks Stall
The United States imposed expansive new sanctions Wednesday on Russia’s two largest oil companies, Lukoil and Rosneft, escalating U.S. economic pressure as negotiations to end the war in Ukraine falter.
FINTRAC Imposes Record Fine Against Vancouver-Based Cryptomus
Canada’s financial intelligence agency has fined Vancouver-based cryptocurrency exchange Cryptomus nearly C$177 million, saying the firm failed to report thousands of transactions that may have involved sanctions evasion and money laundering tied to fraud, ransomware and child sexual abuse material.