Drug Traffickers Used BMPE Scheme and Perfume Sales to Move Money
A Mexican national pleaded guilty to participating in a two-year, multimillion-dollar black-market peso exchange conspiracy that laundered drug trafficking proceeds through Texas to Mexico, the U.S. Justice Department said on Wednesday.
British and American Officials Warn of State-Backed Cyber Attacks
UK and U.S. officials are warning of rising cyber risks driven by Russia- and Iran-linked hacker groups, according to new reports by the Financial Times and Bloomberg.
Fraud Scripts and Chinese Restaurants: Inside a Cambodian Scam Compound
A sprawling scam compound on Cambodia’s border with Thailand housed an estimated 10,000 workers and included offices, dormitories, villas, and restaurants, underscoring the industrial scale of Southeast Asia’s cyberfraud industry.
New Polymarket Bets Again Raise Questions of Insider Knowledge
Three Polymarket accounts made about $611,000 betting on a U.S.-Iran ceasefire before President Donald Trump’s conditional ceasefire announcement, according to a Decrypt report citing blockchain analytics firm Bubblemaps, in trades that renewed scrutiny of possible insider activity on prediction markets.
Treasury Proposes AML and Sanctions Rules for Stablecoin Issuers
The U.S. Treasury Department on Wednesday proposed new anti-money-laundering and sanctions-compliance rules for permitted payment stablecoin issuers, marking a major step in implementing the 2025 GENIUS Act and expanding federal oversight of the sector.
FinCEN Proposes Overhaul of AML Rules, New Role in Oversight
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed a broad rewrite of anti-money-laundering and counterterrorism-financing rules that would shift the focus of compliance from technical box-checking to whether a financial institution’s controls are actually effective.
China Turned to Small Banks, ‘Teapot’ Refineries to Dodge Iran Sanctions
China has helped Iran blunt the impact of U.S. sanctions over the past five years by buying the bulk of its oil exports and supporting a complex financial and shipping network that has allowed Tehran to keep earning billions of dollars in revenue.
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.
New UK Agency to Fight Labor Fraud and Exploitation
Britain’s new Fair Work Agency will target abuse of labor market rules in construction and social care, two sectors heavily dependent on migrant workers, as the government expands enforcement powers to pursue fraud and workplace exploitation.