ENRC Wants $168mn for Mishandled SFO Probe That Spanned a Decade
Eurasian Natural Resources Corporation is seeking more than $168 million in compensation from the UK Serious Fraud Office (SFO), law firm Dechert, and former Dechert partner Neil Gerrard over losses it says arose from a decade-long criminal investigation.
Defendant’s Chatbot Conversation Can Be Used in Fraud Case, Court Rules
U.S. lawyers are increasingly warning clients not to treat artificial-intelligence chatbots as confidential sounding boards after a federal judge in New York ruled that a former financial-services executive could not withhold chatbot-generated materials from prosecutors in a securities-fraud case.
BofA Not Liable for ‘Good-Faith’ Account Closure in Sanctions Case: 9th Circuit
A U.S. appeals court on Monday ruled that Bank of America cannot be sued over its closure of an Iranian American customer’s account after finding the bank was protected by a federal liability shield for actions taken in good faith to comply with U.S. sanctions laws.
UBS Wins Dismissal of Dirty-Money Charges Tied to Tuna-Bond Scandal
UBS AG has won dismissal of money-laundering charges inherited from Credit Suisse over the long-running Mozambique tuna-bond scandal after a Swiss court found criminal liability could not be transferred after the bank’s 2023 takeover of its former rival.
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.
Binance’s Compliance Team Loses Investigators Amid Growing Scrutiny
Several senior Binance compliance officials overseeing sanctions, investigations, and financial-crime monitoring have left the company in recent months as the crypto exchange faces renewed scrutiny over alleged sanctions evasion and illicit-finance risks.
Hackers Nab Data on 10 Jones Day Clients in Phishing Attack
Hackers infiltrated Washington, D.C.-based Jones Day and stole data on 10 of its clients via a phishing-related cyberattack.
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.
Ex-Malaysian PM Razak Ordered to Pay $1.3 Billion to 1MDB Unit
A Malaysian court on Tuesday ordered jailed former Prime Minister Najib Razak to pay $1.3 billion to SRC International, a former unit of scandal-linked state fund 1MDB, after finding him liable for losses incurred by the company.