Risk Management

Nine of the largest U.S. lenders made “inappropriate distinctions” among customers in politically sensitive sectors, including by applying enhanced risk controls in response to negative media reports, the Office of the Comptroller of the Currency (OCC) said. 

Law enforcement raids on luxury Kyiv apartments, including one bathroom fitted with a golden toilet, and images of duffel bags stuffed with cash have plunged President Volodymyr Zelenskyy’s administration into its biggest corruption crisis since he took office, the Financial Times reported. 

Meta internally projected late last year that roughly 10% of its 2024 revenue, or approximately $16 billion, would come from advertising tied to scams and banned goods, according to company documents reviewed by Reuters. 

Eric and Donald Trump Jr. have turned a family-branded cryptocurrency venture into a cash machine that eclipses the Trump Organization’s traditional businesses, according to a Reuters investigation that traces opaque token purchases by overseas investors and a wave of U.S. policy shifts friendly to digital assets.

A New Zealand–based marine insurer played a pivotal role in keeping a fleet of tankers carrying Iranian and Russian oil moving to Asian markets despite Western sanctions, according to a Reuters investigation that has prompted scrutiny from authorities in Wellington.

JPMorgan Chase will provide U.S.-dollar clearing services in Angola, becoming the first major American lender to reengage with the African nation following major corruption scandals and years of anti-money laundering (AML) compliance restrictions, Bloomberg reported.

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 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.

Nation-state hackers gained “long-term, persistent access” to systems at cybersecurity vendor F5 Inc., stealing portions of BIG-IP source code, internal vulnerability information, and limited customer configuration data, Bloomberg reported, citing regulatory filings. 

The world’s top financial watchdog warned that a sharp run-up in global asset prices has left markets vulnerable to the potential for a crash given current economic and geopolitical uncertainties.