SFO reviewers detail “endemic” resourcing issues

The authors of two reports into failings at the UK’s Serious Fraud Office said a lack of resources is the biggest issue the agency faces.

19 October 2022

Puerto Rican bank violated Venezuelan sanctions, OFAC says

The bank didn’t apply for a licence to handle the blocked accounts of an unnamed person sanctioned in 2017, the agency said.

19 October 2022

French cement producer to pay $778 million for ISIS payments

Lafarge and its Syrian subsidiary pleaded guilty to “unprecedented charges” related to payments it made to terrorists groups to protect a cement plant near the Turkish border.

18 October 2022

Mark Steward to hang up his boots at the FCA

The head of enforcement at the UK’s financial regulator will step down early next year after seven years at the agency.

18 October 2022

Lab equipment distributor gets two-year probation for undervaluing Russia, Ukraine shipments

Intertech Trading Corporation agreed to pay more than $140 thousand in fines and fees.

17 October 2022

Dechert and former partners face new hacking claim

New US litigation by businessman Farhad Azima claims that law firm Dechert and its disgraced former head of white-collar crime attempted to cover up their involvement in the alleged hacking of his private emails.

17 October 2022

Star Entertainment to pay A$100m for AML failures at Sydney casino

Australia’s gambling regulator has fined Star Entertainment and appointed a supervisor following a review that laid bare the “shocking” breaches of anti-money laundering laws at its Sydney casino.

17 October 2022

Glencore to face restitution claim in US bribery case

The owners of a medical device company affected by Glencore's bribery in the DRC filed an appearance in the DOJ case against the commodities trader.

14 October 2022

Bittrex fines a sign of more to come

Following FinCEN and OFAC’s first-ever parallel crypto action, sanctions practitioners say the agencies’ improved understanding of cryptocurrency platforms will create further opportunities for joined-up enforcement.

14 October 2022

Venezuelan sentenced to one year in prison for PDVSA bribery scheme

In 2016, Abraham Jose Shiera Bastidas pleaded guilty to bribing PDVSA officials.

13 October 2022

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