Louvre Jewel Heist Probed for Money-Laundering Motive
French investigators are treating Sunday’s smash-and-grab at the Louvre as a potential money-laundering operation, after four masked thieves stormed the museum’s Galerie d’Apollon and escaped with eight pieces of royal jewelry.
Bank Compliance Slow Services for Some in Europe’s Growing Defense Sector
European lenders are re-engaging with defense companies but smaller firms in the sector’s supply chain are running into hurdles clearing bank compliance requirements, according to new reporting by The Banker.
UBS Strengthens AML Checks on Wealthy Clients in Asia
UBS Group AG is intensifying scrutiny of how clients in its Asian wealth hubs make and move their money, pressing some to provide more detailed disclosures as the Swiss lender looks to avoid fresh regulatory clashes.
U.S. Charges 777 Partners Co-Founder Over Alleged $500-Million Fraud
Federal prosecutors on Thursday unsealed an indictment charging Josh Wander, co-founder of collapsed investment firm 777 Partners, with wire fraud, securities fraud and conspiracy, alleging he fabricated financial records and misled lenders and investors in a scheme worth up to $500 million. The 17-page filing in Manhattan federal court says Wander used bogus documents and […]
Judge Quashes Effort to Stop Peru’s Ex-President From Leaving Country During Criminal Probe
A Peruvian judge declined a request to restrict former President Dina Boluarte from leaving the country while prosecutors investigate her for corruption and money laundering, Reuters reported.
Bank of America, BNY Mellon Sued for Alleged Compliance Failures Linked to Epstein
New class-action lawsuits allege that Bank of America and BNY Mellon enabled Jeffrey Epstein’s trafficking of underage girls, in part by failing to report suspicious activity linked to the financier until after his death in 2019, The Wall Street Journal reported.
Microsoft Warns “Payroll Pirate” Scam is Rerouting Paychecks via HR Portals
Microsoft is warning organizations about an active campaign dubbed “Payroll Pirate” that hijacks employee accounts on cloud HR platforms and diverts direct-deposit paychecks, Ars Technica reported.
Malaysian Authorities Target $115 Million in UBS, JPMorgan for 1MBD Ties
Malaysia’s anti-graft agency will freeze approximately USD $115.32 million held in Swiss bank accounts linked to Prince Turki Abdullah Abdul Al-Saud, a co-founder of PetroSaudi International and a figure tied to the long-running 1MDB scandal.
British Man Pleads Guilty in New York to $99 Million Wine Fraud
A British national pleaded guilty on Tuesday in Brooklyn federal court for his role in a fraud scheme that took nearly $100 million from victims who funded loans to fake wine collectors, Reuters said.
Son of Alleged Uyghur Kingpin Spent Millions on Mosque and Cultural Center in London
The son of a Chinese-born Uyghur oligarch who allegedly ran a massive smuggling and money-laundering ring has purchased a former church in North London for more than $3 million and converted it into a mosque and cultural center, OCCRP reported.