Risk Types

PwC has decided to “lean in” to cryptocurrency work after years of a more guarded approach, citing a friendlier U.S. policy environment under President Donald Trump and new legislation governing digital assets, according to the Financial Times. 

Iran is offering to sell ballistic missiles, drones, warships, and other advanced weapons systems to foreign governments in exchange for payment in cryptocurrency, the Financial Times reported.

The U.S. Treasury Department on Wednesday imposed new sanctions on four companies it said were operating in Venezuela’s oil sector, along with associated oil tankers.

Abubakar Malami, Nigeria’s former attorney general and minister of justice, has been charged with 16 counts of money laundering and conspiracy involving billions of naira, Reuters reported.

Malaysia’s High Court sentenced ex-Prime Minister Najib Razak to 15 years in prison after convicting him on 25 charges of money laundering and abuse of power linked to the looting of the 1MDB sovereign-wealth fund, The Wall Street Journal reported.

A loose ecosystem of young cybercriminals known as “the Com” is increasingly being linked to a widening range of online and real-world offenses, from ransomware-style corporate attacks to the hacking of Pornhub users’ data, according to The Guardian.

President Donald Trump on Thursday signed an order directing the federal government to loosen marijuana regulations and accelerate a long-stalled effort to reclassify the drug, a step that could mark one of the biggest federal shifts on cannabis policy in decades, Reuters reported.

The U.S. regulator of national banks scaled back some of the compliance obligations it had imposed on Citigroup under a 2020 enforcement action that penalized the lender for inadequate risk controls and data-management practices, the Financial Times reported.

The EU’s Anti-Money Laundering Authority (AMLA) on Thursday published draft technical standards intended to unify how financial supervisors assess risks and how the supervisory body will select the “most complex” high-risk institutions and groups it will directly oversee. 

Authorities raided the residential properties and offices of French Culture Minister Rachida Dati on Thursday as part of a corruption probe linked to her previous tenure as a member of the European Parliament, Bloomberg reported.