Bank of America, BNY Mellon Sued for Alleged Compliance Failures Linked to Epstein
New class-action lawsuits allege that Bank of America and BNY Mellon enabled Jeffrey Epstein’s trafficking of underage girls, in part by failing to report suspicious activity linked to the financier until after his death in 2019, The Wall Street Journal reported.
UK Hits Rosneft, Lukoil and 51 Oil Tankers with Sanctions
Britain imposed new sanctions Wednesday on Russia’s two largest oil producers, Rosneft and Lukoil, and 51 ships, including 44 “shadow fleet” tankers and seven LNG vessels, Reuters reported.
U.S. and UK Blacklist Pig-Butchering Scammers, Seize $15 Billion in Bitcoin
U.S. and UK authorities seized roughly $15 billion in Bitcoin and multiple London properties allegedly linked to a sprawling online fraud scheme based in Cambodia.
The Hold-Up on Revolut’s UK Banking License: Risk-Control Worries
UK regulators are holding up Revolut’s full banking license amid concerns that the fintech firm’s risk controls are not scaling fast enough with its rapid overseas growth, the Financial Times reported.
Microsoft Warns “Payroll Pirate” Scam is Rerouting Paychecks via HR Portals
Microsoft is warning organizations about an active campaign dubbed “Payroll Pirate” that hijacks employee accounts on cloud HR platforms and diverts direct-deposit paychecks, Ars Technica reported.
Malaysian Authorities Target $115 Million in UBS, JPMorgan for 1MBD Ties
Malaysia’s anti-graft agency will freeze approximately USD $115.32 million held in Swiss bank accounts linked to Prince Turki Abdullah Abdul Al-Saud, a co-founder of PetroSaudi International and a figure tied to the long-running 1MDB scandal.
In Turkey’s Grand Bazaar, Some See Signs of Large-Scale Sanctions Busting
One of the world’s oldest marketplaces is doubling as a modern hub for sanctions evasion and large-scale money laundering, according to experts who spoke to The New York Post.
EU Lawmakers Move to Scale Back ESG Directives
European Union lawmakers voted Monday to dramatically scale back two flagship sustainability rules, narrowing their scope to the bloc’s largest companies after months of pushback from industry, Bloomberg reported.
Spain Seizes Property of Russian Helicopters CEO: Report
Spanish authorities have seized property linked to Nikolai Kolesov, the chief executive of state-owned Russian Helicopters, on suspicion of money laundering, according to an anti-corruption group founded by the late Alexei Navalny.
Blacklisted by Biden, Paraguay’s Ex-President See Sanctions Lifted by Trump
The United States has removed former Paraguayan president Horacio Cartes from its sanctions list, a shift that comes amid warmer ties between the Trump administration and President Santiago Peña’s conservative government, Bloomberg reported.