Oversight Agency

Federal prosecutors in Manhattan are urging Wall Street companies to confess to fraud in exchange for behind-the-scenes deals that would spare them from criminal charges, fines, and public disclosure of their wrongdoing.

U.S. officials believe Chinese companies have been negotiating arms sales to Iran and plotting to route the weapons through third countries to disguise their origin.

Multiple major German banks have abruptly frozen the accounts of Russian and Belarusian nationals living in Germany, demanding fresh proof of residency and leaving long-term customers without access to their money.

PayPal has agreed to forgo approximately $30 million in transaction fees to resolve a U.S. Justice Department investigation into whether the financial services company unlawfully favored minority-owned businesses through a funding initiative launched in 2020.

European Union foreign ministers have agreed to impose sanctions on Israeli settlers over violence against Palestinians as well as on members of Hamas, breaking a months-long deadlock after Hungary’s new government lifted a veto put in place under former Prime Minister Viktor Orban.

The U.S. Treasury Department on Monday issued an alert urging financial institutions to step up their detection of money laundering, sanctions evasion, and digital-asset transfers tied to Iran’s Islamic Revolutionary Guard Corps (IRGC).

Australia’s financial intelligence agency on Friday launched two supervisory campaigns targeting the country’s virtual assets sector, stepping up oversight of crypto businesses ahead of sweeping AML reforms, the Australian Transaction Reports and Analysis Centre (AUSTRAC) said in a statement.

Artificial intelligence is amplifying the cyber threats facing the global financial system and could trigger a system-wide shock unless regulators and banks build stronger defenses, the International Monetary Fund warned Thursday.

Monaco’s financial markets watchdog has fined UBS €6 million for “numerous serious breaches” in anti-money-laundering and counterterrorism financing controls.

The United States on Thursday imposed sanctions on a Cuban military-controlled conglomerate, one of its top executives, and a Cuban nickel-mining joint venture, in the first round of designations under a new executive order targeting the island-nation.