FL Brokerage to Pay $1.1mn for Failing to ID Human Error in Sanctions Controls
TradeStation Securities agreed to pay $1.11 million to settle potential civil liability for 481 apparent violations of U.S. sanctions rules after the Florida-based brokerage provided services to people in Iran, Syria, and Crimea.
Australia’s Worsening Mortgage Fraud Scandal Spurs Talk of AML Changes
Major Australian banks are working with the country’s financial-crimes watchdog to assess the scale of an alleged mortgage fraud scheme that may extend well beyond an earlier A$1 billion estimate.
Viktor Orban and the Palatial Hapsburg Manor He Says He Doesn’t Own
Hungary’s long-serving Prime Minister Viktor Orbán is facing mounting political pressure ahead of an April 12 election as a sprawling estate in his home village becomes a flashpoint for opposition claims of corruption.
Bank of America Aims to Settle Lawsuit Brought by Epstein Victims
Bank of America has agreed in principle to settle a proposed class action lawsuit brought by Jeffrey Epstein’s victims ,who accused the lender of aiding the late financier’s sex-trafficking operation.
Singapore Warns on Money-Laundering Risks of Variable Capital Companies
Singapore’s financial regulator has warned fund managers that a popular low-tax investment structure introduced to attract offshore capital could be exploited for money laundering.
Prominent UK Polo Patrons Tied to Alleged Illicit Funds at Shuttered Swiss Bank
U.S. officials have linked two prominent figures in English polo to an alleged scheme to launder proceeds from the illicit sale of Venezuelan oil, according to a Financial Times report that cited a recent Treasury Department notice about the now-defunct Swiss lender MBaer Merchant Bank.
For Iran, Oil Sales Continue Despite Sanctions and War
Illicit Iranian oil shipments continue to move through Asian waters toward China, generating a critical revenue stream for Tehran and helping Beijing build large crude stockpiles despite sanctions and heightened regional conflict.
Tether’s Ascension in Crypto-Sphere Follows New Political Alliances
Tether is accelerating its push into the United States, betting that political support in Washington, deep Treasury holdings, and a growing investment portfolio will cement its place in mainstream finance.
Leon Black to Be Deposed in Case Alleging BofA Ignored Epstein Red Flags
Leon Black, the billionaire financier and former chief executive of Apollo Global Management, has been ordered to sit for a deposition in a lawsuit accusing Bank of America of facilitating and profiting from Jeffrey Epstein’s sex-trafficking operation.
Ex-RBS Manager Pleads Guilty to Extorting Bribes from Business Clients
A former Royal Bank of Scotland manager has admitted taking more than £600,000 in bribes in exchange for favorable treatment of business customers trapped inside the bank’s discredited Global Restructuring Group (GRG).