Money Laundering

Nordic banks are finally beginning to move past the Baltic money-laundering scandal that engulfed the region’s financial sector, after nearly a decade of probes, fines, management upheaval, and costly compliance overhauls.

Five of the world’s largest banks have been drawn into allegations that they unwittingly processed payments tied to a sanctions-evasion and money-laundering scheme benefiting Iran.

Daniel Kinahan, the Irishman long alleged to be one of Europe’s leading organized-crime figures and drug traffickers, has been arrested in Dubai on an Irish warrant and is expected to be extradited to Ireland.

The European Union’s new anti-money-laundering (AML) supervisor on Thursday launched two consultations on draft rules intended to tighten how companies assess their financial-crime risks and apply compliance controls across corporate groups. 

Norway’s financial watchdog has found “serious deficiencies” in anti-money-laundering compliance at Svenska Handelsbanken AB’s Norwegian branch.

The U.S. Treasury Department on Thursday imposed sanctions on Nicaraguan government officials, firms operating in Nicaragua’s gold sector, and individuals tied to the forcible seizure of a U.S.-owned mining asset. 

Britain’s National Crime Agency (NCA) has charged shipping financier John Michael Ormerod with alleged money laundering and breaches of Russia sanctions.

New details about the allegations against the rapper Gims have emerged after French authorities charged the Congolese music star with money laundering linked to millions of euros in suspicious transactions.

Telegram is still hosting Xinbi Guarantee, a Chinese-language black market that British officials have levied sanctions on and accused of facilitating crypto scams and human trafficking.

Britain’s Financial Conduct Authority has launched a consultation on guidance for the UK’s future crypto regime, as the regulator moves toward opening authorizations for crypto firms later this year.