The World’s Largest Online Hub for Wildlife Trafficking? Facebook.
Facebook has become the dominant online platform for illegal wildlife trade, accounting for nearly 75 percent of the trafficking advertisements detected across 61 websites and apps over almost two years, according to a new report by the Global Initiative Against Transnational Organized Crime.
UBS Says It Won’t Release Nazi-Era Settlement Files after Court Setback
UBS AG said it will not hand over privileged documents sought in an investigation into Credit Suisse’s handling of Nazi-linked accounts after a U.S. judge declined to give the bank assurances that doing so would not expose it to new legal claims.
Epstein Made $25 Million in 2015 as a Consultant in DOJ Bank Settlement
Jeffrey Epstein received $25 million in late 2015 for consulting work tied to a U.S. Justice Department tax-evasion settlement with Swiss private bank Edmond de Rothschild Group.
UBS Loses Legal Bid in Lawsuit over Stolen Assets of Nazi Victims
UBS Group AG failed to convince a U.S. judge to clarify a 1999 settlement over Holocaust-era claims against Swiss banks, a setback for the lender as it seeks to head off potential new financial claims tied to Nazi victims’ assets.
Brazil Adds China’s BYD to Registry of Firms Linked to ‘Slavery-Like’ Work
Brazil has added Chinese automaker BYD to a government registry of employers linked to slavery-like labor conditions after an investigation into the treatment of Chinese workers hired to help build the company’s factory in Bahia state.
Trump’s ‘Debanking’ Fight Could Prompt Institutions to Keep Risky Clients
Trump’s crackdown on “debanking” is colliding with a core compliance problem for U.S. banks: the very policies his administration wants to curb have long given lenders a way to cut off customers they suspect of wrongdoing without violating federal secrecy rules.
Russia’s Sanctions-Busting Crypto Firm A7 Expands African Footprint
A Russian cryptocurrency payments network founded by sanctioned actors is expanding into Africa as Moscow seeks new channels to move money around western restrictions imposed after the invasion of Ukraine.
How the ‘Panama Papers’ Changed (and Didn’t Change) Offshore Secrecy
Ten years after the Panama Papers exposed the offshore financial system exploited by tax cheats and criminals around the world, prosecutions and transparency reforms tied to the landmark investigation are still unfolding.
BofA Gets Preliminary Yes for Epstein Deal as Lithuania Expands Probe
A U.S. judge on Thursday granted preliminary approval to Bank of America’s $72.5 million settlement with women who accused the bank of facilitating Jeffrey Epstein’s sexual abuse.
FTC Tells Payment Processors that ‘Debanking’ Could Lead to Penalties
The Federal Trade Commission has warned four of the largest payment processors against denying customers access to financial services because of their political or religious views.