UK takes down multibillion-dollar Russian crypto laundering network December 4, 2024 The UK’s National Crime Agency (NCA) has smashed a multibillion-dollar Russian money laundering scheme which operated in Britain and had ties to the Kremlin. Investigators said on Wednesday that uncovering the Russian-speaking network, run out of London, Moscow and Dubai, marked the NCAs biggest money laundering case for a decade. The investigation was given the [...]
Metro Bank given hefty fine by City regulator for financial crime failings November 12, 2024 The Financial Conduct Authority (FCA) said that Metro Bank had failed to adequately monitor over 60m transactions for money laundering risks between June 2016 and December 2020.
Citi was drug trafficking duo’s favourite bank, DEA officials say July 1, 2024 Senior US law enforcement officials have argued a pair of drug traffickers opted to launder money through Citigroup as they considered the bank's fraud controls "more favourable".
Ukraine: Global anti-money laundering body must ‘blacklist’ Russia after North Korea defence pact June 22, 2024 Ukraine has called on the world’s anti-money laundering standards body to ‘blacklist’ Russia after the nation bolstered its ties with North Korea.
HSBC ‘seriously violated’ Swiss money laundering rules, regulator says June 18, 2024 HSBC's Swiss private bank failed to conduct adequate checks on more than $300m (£236m) worth of transactions over the course of 13 years, the country's banking regulator has found.
UK failing to fight ‘dirty money epidemic’ costing £350bn a year, MPs warn April 17, 2024 The UK is “utterly failing” to fight the “dirty money epidemic” that is costing £350bn a year, MPs have warned.
US Fed fines Deutsche Bank $186m over failure to improve money laundering checks July 20, 2023 The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186m for failing to sufficiently address money laundering control problems and other shortcomings previously flagged by the U.S. central bank. The new penalty for lingering issues marks the latest blow for the German lender, which has struggled for years to get on [...]
UK banks to ramp up data sharing in dirty money crackdown June 22, 2023 British banks are gearing up to share more data with their peers on suspected serious economic crime as part of wider efforts to stem dirty money flows into the country from Russia and elsewhere, four sources with knowledge of the matter told Reuters. More than half a dozen banks are in advanced talks with British [...]
Banks must do more to tackle Post Office cash-based money laundering, warns FCA April 24, 2023 The UK’s financial watchdog “put banks on alert” as it announced a series of measures to step up the fight against money laundering through the Post Office. Tackling financial crime is a key objective for both the Financial Conduct Authority (FCA) and the government. Last month the government announced part two of its Economic Crime [...]