Trump’s IRS Cuts Raise Fears, and Hopes, of Weaker Enforcement
The Internal Revenue Service has lost thousands of enforcement staffers since President Donald Trump returned to office. The cuts are fueling fears, and in some cases, hopes, that the agency’s capacity to enforce U.S. tax laws is diminished.
SPOTLIGHT
Quantum Computing: A New Frontier in Financial Fraud
Africa Emerges as Testing Ground for Russia’s Parallel Financial Network amid Tightening U.S. Sanctions
Counterfeiters Cash in on the World’s Bestselling Cancer Drug
Nigerian Ex-Oil Minister Rejects Bribery Claims in London Court as Defense Begins
International Sting in Spain Dismantles Massive Labor Trafficking Network
ILLICIT FINANCE
Lafarge Fined over €5.7mn, CEO Jailed for 6 Years for Paying Terror Groups
UBS Wins Dismissal of Dirty-Money Charges Tied to Tuna-Bond Scandal
Indonesia Names ‘Gas Godfather’ in Pertamina Corruption Probe
The World’s Largest Online Hub for Wildlife Trafficking? Facebook.
SANCTIONS
How Iran Transformed Its Economy with China’s Help and Barter Deals
Ukraine Sees Progress on Disrupting Drone Supply Chains, but Gaps Remain
How a Blacklisted Iranian Conglomerate Has Ties to a Reform UK Donor
White House Expected to Extend Russia Oil Sanctions Waiver
EMERGING THREATS
DOCUMENTS
DOJ Announces Compensation Process for OneCoin Fraud Victims With Funds Recovered Through Asset Forfeiture
Ecocide in Venezuela: Oil, Mining and the Risks of Foreign Investment
RBI invites Public Comments on ‘Exploring Safeguards in Digital Payments to Curb Frauds’
The West’s Ukraine Sanctions Strategy Has Lost its Way
AUSTRAC Targets Financial Crime Vulnerabilities in Foreign-Owned Banks
OVERSIGHT
Treasury Proposes AML and Sanctions Rules for Stablecoin Issuers
FinCEN Proposes Overhaul of AML Rules, New Role in Oversight
New UK Agency to Fight Labor Fraud and Exploitation
Trump’s ‘Debanking’ Fight Could Prompt Institutions to Keep Risky Clients
CFTC Sues 3 U.S. States in Fight over Prediction Markets Oversight
TECH
Dutch Police Crack Down on Users of Document-Forgery Platform
HSBC and Standard Chartered Get Their Hong Kong Stablecoin Licenses
British and American Officials Warn of State-Backed Cyber Attacks
Binance’s Compliance Team Loses Investigators Amid Growing Scrutiny
RISK MANAGEMENT
IBM to Pay DOJ $17mn over DEI Program
IBM agreed to pay $17 million to resolve allegations by the Trump administration that its diversity, equity, and inclusion policies discriminated against employees and job applicants, in the first settlement secured under the Justice Department’s new Civil Rights Fraud Initiative.
White House Acknowledges Major Error on NY Medicaid Fraud Stats
The Trump administration has acknowledged a major error in figures it used to support a fraud investigation into New York’s Medicaid program, conceding that a key claim by the Centers for Medicare & Medicaid Services significantly overstated the number of recipients of personal-care services in the state.
Investigations
FRAUD
BRIBERY & CORRUPTION
In Spain, Two Corruption Cases Highlight Parties’ Legacies of Political Graft
Two criminal trials opening in Madrid this week have put renewed focus on allegations of kickbacks, illicit party financing, and broader political corruption in Spain.
EPSTEIN FILES
How the ‘Panama Papers’ Changed (and Didn’t Change) Offshore Secrecy
Ten years after the Panama Papers exposed the offshore financial system exploited by tax cheats and criminals around the world, prosecutions and transparency reforms tied to the landmark investigation are still unfolding.
Cybercrime
Hackers Nab Data on 10 Jones Day Clients in Phishing Attack
North Korea Suspected in Massive $286-Million Drift Exploit
Iran Wages Cyber Campaign Against Israeli and U.S. Firms and Civilians
U.S. Indicts Hacker Allegedly Behind $53-Million Uranium Finance Exploit
More in Certain Risk
China Turned to Small Banks, ‘Teapot’ Refineries to Dodge Iran Sanctions
Georgian Company is Helping Russia Sell Donetsk Commodities Abroad
UBS Loses Legal Bid in Lawsuit over Stolen Assets of Nazi Victims
Brazil Adds China’s BYD to Registry of Firms Linked to ‘Slavery-Like’ Work
Russia’s Sanctions-Busting Crypto Firm A7 Expands African Footprint
