Covered Institutions

Image credit: Adapted from “Miss Universe 2007 rehearsals 6” by Greg Doyle, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:Miss_Universe_2007_rehearsals_6.jpg, licensed under Creative Commons Attribution 1.0 Generic (CC BY 1.0). Changes were made.

Mexico Freezes Funds of Miss Universe Co-Owner in Organized-Crime Probe

Mexico’s anti-money laundering unit has frozen the bank accounts of Raúl Rocha Cantú, the Mexican co-owner of the Miss Universe Organization, as authorities investigate alleged links to drug, fuel and arms trafficking, the Associated Press reported.

Nigeria to Tighten Bank Cash Withdrawal Limits

Nigeria’s central bank has unveiled sweeping new cash withdrawal limits and related rule changes aimed at curbing cash dependence and reducing security and money-laundering risks, according to Reuters.

Image credit: Adapted from “People's Bank of China 20160428 092840” by David290, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:People%27s_Bank_of_China_20160428_092840.jpg, licensed under Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA 4.0). Changes were made.

China Signals Crypto Crackdown, Flags Stablecoins

China’s central bank has restated its hard line on cryptocurrencies, warning that a renewed wave of speculation is testing regulators and vowing tougher action against illegal activities involving stablecoins, according to Reuters.

Image credit: Adapted from “UBS (54815259662)” by Ajay Suresh, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:UBS_(54815259662).jpg, licensed under CC BY 4.0. Changes were made.

UBS and Credit Suisse Compliance Officer Face Charges Over Mozambique Bonds Scandal

Switzerland’s attorney general has filed criminal charges against UBS and a former Credit Suisse compliance officer, alleging failures to prevent money laundering linked to the long-running Mozambique “tuna bonds” scandal, according to The Wall Street Journal.

Adapted from: Bruno Rijsman, Havana (Cuba, February 2023) – 81, 28 February 2023, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:Havana_(Cuba,_February_2023)_-_81.jpg, licensed under CC BY-SA 2.0 (Creative Commons Attribution-ShareAlike 2.0 Generic). Changes were made

UN Special Rapporteur Calls for End of U.S. Sanctions on Cuba

United Nations expert is calling for the United States to lift its decades-old sanctions on Cuba, citing their corrosive impact on the country’s populace and economic future, Al Jazeera reported. 

Stephen McCarthy / Web Summit via Sportsfile, 2022 – Backstage SZ9 5823 (52471162093), 1 November 2022, via Wikimedia Commons, https://commons.wikimedia.org/wiki/File:2022_-_Backstage_SZ9_5823_(52471162093).jpg, licensed under CC BY 2.0 (Creative Commons Attribution 2.0 Generic)

Binance Founder Changpeng Zhao Sued in Over Alleged ‘Assistance’ to Hamas

Families of Americans killed, injured or taken hostage in Hamas’s October, 7 2023 attack on Israel have accused Binance founder Changpeng “CZ” Zhao and his cryptocurrency exchange of helping militant groups move millions of dollars, according to the Financial Times.

Trafigura Images, Trafigura Trading Floor Geneva, Flickr, taken May 16, 2014, https://www.flickr.com/photos/trafigura_images/15045924404, licensed under CC BY-ND 2.0 (Creative Commons Attribution-NoDerivs 2.0 Generic)

Trafigura Staff Flagged Gupta’s Nickel Deals Years Before Alleged Fraud

Trafigura Group’s own trade-finance staff raised red flags about its nickel deals with businessman Prateek Gupta more than two years before the trading house revealed it was facing millions of dollars in losses.

FCA to Overhaul Transaction Reporting

The UK’s Financial Conduct Authority (FCA) has launched a consultation to overhaul the country’s transaction reporting regime, promising both stronger tools to combat financial crime and a lighter reporting burden for firms.