French supreme court cancels UBS’s €1.8 billion fine in tax case

France’s highest court has ordered a lower court to recalculate the penalty that Swiss bank UBS must pay over its 2018 conviction for helping French citizens evade tax.

15 November 2023

Lawyer guilty of “tipping off” businessman during SFO’s ENRC probe

London solicitor William Osmond has been convicted of forgery and illicitly disclosing the existence of a money laundering investigation after the Serious Fraud Office accused him of leaking details about an evidence-gathering order during the now-shuttered ENRC investigation.

15 November 2023

OFAC issues guidance to NGOs providing aid to Palestinians

The memo by the civil sanctions enforcer comes as the US has ramped up sanctions against Gaza-based armed groups such as Hamas and Palestinian Islamic Jihad.

14 November 2023

California judge throws out Amadea ownership dispute

A judge dismissed a case in which a former executive for a major Russian oil company contested the DOJ’s seizure of a yacht because the ownership battle should be brought to Manhattan, where prosecutors are seeking its forfeiture.

14 November 2023

SFO launches criminal fraud probe into collapsed UK law firm

The Serious Fraud Office has arrested seven people as it launched a criminal investigation into suspected fraud at the collapsed UK law firm Axiom Ince, which was shut down by the legal regulator in October.

14 November 2023

People News: Swedbank selects new interim head of financial crime

In the latest roundup, Swedish lender Swedbank has appointed its head of operational risk to temporarily lead its anti-financial crime operations and the former US attorney for the Southern District of California has moved back to private practice.

14 November 2023

Estonia money laundering trial of ex-Danske managers begins

The trial in Estonia of six defendants accused of taking part in a $1.6 billion money laundering scheme at Danish lender Danske Bank’s Estonian branch has begun.

14 November 2023

Indian solar power company self-discloses improper payments

Former executives of Azure Power were involved in a scheme to make improper payments, and certain former board members may have been aware of it, according to a recent audit by BDO.

13 November 2023

CGU enters into cooperation agreement with Brazil’s antitrust enforcer

Lawyers in Brazil said that the agreement could enable future parallel settlements between companies and the agencies.

13 November 2023

Ex-SBM Offshore lawyer: “my days were numbered”

In a rare public appearance, the former deputy general counsel of SBM Offshore described his experience of blowing the whistle on a huge foreign bribery scandal at the oilfield services company.

10 November 2023

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