Financial crime
Trump’s ethics a ‘sticking point’ for stalled crypto law
Republican lawmaker says questions about president’s holdings stymied passage of Clarity Act
Financial technologies are increasing AML/CFT risks – EBA
Crypto increasingly used to facilitate crime, while fintech firms prioritise “growth over compliance”
Singapore fines financial firms $21.5 million for AML breaches
MAS punishes nine institutions, including Credit Suisse and UBS, and 18 individuals over 2023 case
US Senate passes ‘Genius Act’ to regulate stablecoins
Regulators express concerns over stability risks; senator says bill could trigger “next financial meltdown”
Failure to appoint deputies ‘a step back’ – Montenegrin central bank
Bank will “continue to implement its mandate” despite parliament not approving its candidates
‘Chat Bankman-Fried’ has poor grasp of governance – study
Bank of Italy paper finds many LLMs would choose to behave in similar way to former crypto exchange owner
Police raid Bank of Portugal in €17m fraud investigation
Central bank “fully co-operating” with authorities in IT procurement embezzlement case
CBSL head calls for proactive approach to tackle deepfakes
Governor tells Central Banking of institution’s response when his own image was used by scammers
Sri Lanka’s governor is latest to feature in deepfake scam
Video uses manipulated image to pretend central bank chief is endorsing financial investments
Eurosystem sees small rise in counterfeiting over 2024
€20 and €50 notes remain the most popular denominations to replicate
Police arrest treasury officials over Bank of Uganda heist
Central bank said it has recovered more than $8 million of $16.9 million in diverted payments
Former Fed adviser arrested for allegedly spying for China
Indictment claims official passed on sensitive economic and financial data to Chinese security services
UK regulator says firms are under-reporting money mules
Financial companies cite challenge of establishing criminal intent
BoE collaborates with NY regulator on crypto supervision
Senior staff to exchange expertise in digital payments and distributed ledger technology
Bank of Uganda launches investigation into $17m ‘hack’
Central bank declines to comment on millions of dollars reportedly stolen via diverted payments
Cash use supporting ‘shadow economy’ in Slovakia – study
Central bank research points to “substantial” activity intended to avoid regulatory scrutiny
Lebanese central bank joins action against ex-governor, say reports
Official says central bank has joined foreign investigations of alleged crimes by Salameh
Vietnam mandates biometric verification for many online transactions
Bank customers must provide face or fingerprint ID for transactions over $393
Maltese governor pleads not guilty to fraud
Prosecutors allege Scicluna failed to challenge suspect hospital deal while finance minister
Maltese prosecutor charges central bank governor with fraud
Scicluna previously denied all wrongdoing while serving as finance minister
Binance founder sentenced to four months in prison
Nigerian court adjourns separate money laundering case against the crypto exchange