U.S. Regulators Propose Easing Capital Rules for Lenders
U.S. regulators on Thursday proposed easing bank capital rules, a move that would allow the country’s largest lenders to hold billions of dollars less in capital and mark a major win for the sector.
World Bank Bans Three PwC Units for Fraudulent Practices in Africa
The World Bank has barred PricewaterhouseCoopers network affiliates in Mauritius, Kenya, and Rwanda from providing professional services on bank-financed projects for 21 months after finding they engaged in collusive and fraudulent practices tied to an East African power project.
Musk’s Legal Team Excluded SEC Lawyers in Twitter Settlement Talks
Elon Musk’s lawyers sought to negotiate a settlement of the SEC’s case over his delayed disclosure of a Twitter stake without fully involving the agency’s litigation team, an unusual approach that surfaced in federal court earlier this month.
Cash Is No Longer King of U.S.-Mexico Remittances
Digital money transfers have overtaken cash for the first time in the U.S.-to-Mexico remittance corridor, marking a shift in the world’s largest flow of cross-border family payments and intensifying pressure on traditional cash-based providers.
UK Joint Committee Warns on Britain’s ‘Brittle’ Checks on Political Illicit Finance
A UK parliamentary committee warned on Wednesday that weaknesses in Britain’s political finance regime leave it vulnerable to illicit foreign funds, and said enforcement remains too fragmented and underpowered to deter abuse.
Australia’s Worsening Mortgage Fraud Scandal Spurs Talk of AML Changes
Major Australian banks are working with the country’s financial-crimes watchdog to assess the scale of an alleged mortgage fraud scheme that may extend well beyond an earlier A$1 billion estimate.
Viktor Orban and the Palatial Hapsburg Manor He Says He Doesn’t Own
Hungary’s long-serving Prime Minister Viktor Orbán is facing mounting political pressure ahead of an April 12 election as a sprawling estate in his home village becomes a flashpoint for opposition claims of corruption.
Bank of America Aims to Settle Lawsuit Brought by Epstein Victims
Bank of America has agreed in principle to settle a proposed class action lawsuit brought by Jeffrey Epstein’s victims ,who accused the lender of aiding the late financier’s sex-trafficking operation.
North Korea’s AI-Enabled Fake-Worker Scams Are Expanding Into Europe
North Korean IT operatives are increasingly using artificial intelligence tools to pose as remote workers, win jobs, and draw salaries from European companies, the Financial Times reported, citing cyber security experts who said the threat is spreading beyond the United States.
For Iran, Oil Sales Continue Despite Sanctions and War
Illicit Iranian oil shipments continue to move through Asian waters toward China, generating a critical revenue stream for Tehran and helping Beijing build large crude stockpiles despite sanctions and heightened regional conflict.