Oversight

ING Belgium has agreed to pay a €1.6 million settlement over alleged failures to report suspicious transactions linked to former European Commissioner Didier Reynders.

Denmark’s financial regulator has reported a local unit of Nordea Bank to police over suspected breaches of anti-money-laundering rules and asked authorities to open a criminal investigation, the authority disclosed Monday. 

China has for the first time invoked a law targeting companies that comply with foreign sanctions Beijing rejects, escalating its pushback against U.S. blacklisting of several oil refineries over purchases of Iranian crude.

Elon Musk has agreed to pay $1.5 million to settle U.S. Securities and Exchange Commission (SEC) allegations that he cheated Twitter shareholders in 2022 by failing to properly disclose his growing stake in the social media company.

President Donald Trump on Friday signed an executive order authorizing penalties against foreign banks and other companies anywhere in the world that do business with the Cuban government. 

Britain’s Serious Fraud Office (SFO) on Friday secured a £10 million payment from defense contractor Ultra Electronics after the company accepted responsibility for failure to prevent bribery, the agency said in a statement.

U.S. banks have heard little from the Trump administration about the scope of an expected executive order that would require them to collect citizenship or immigration-status data on their customers, leaving the industry warning of multibillion-dollar costs and the prospect of millions of Americans being shut out of the banking system.

The Financial Action Task Force (FATF) placed Austria in enhanced follow-up after finding the country’s framework for investigating and prosecuting money laundering remains weak more than a decade after similar concerns were first raised.

A German labor court has ruled that Julius Baer Group’s Frankfurt arm wrongly dismissed a manager who had raised internal concerns about alleged sanctions violations linked to the onboarding of clients from Iran and Russia.

Accountants, lawyers and real estate agents in Australia will face multimillion-dollar fines for assisting the illicit tobacco trade under a sweeping expansion of anti-money-laundering and counterterrorism financing laws taking effect on July 1.