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Financial Crime

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Former Cognizant executives welcome US decision to drop bribery case April 03, 2025 | Samuel Rubenfeld

Two former executives of Cognizant Technology Solutions welcomed a US government decision yesterday to drop the corruption charges against them. In e-mailed statements sent to MLex after the US federal judge f... (more story)

UK fraud enforcer still has 'appetite' for big cases despite US freeze April 03, 2025 | Martin Coyle

A US freeze on enforcement of big bribery cases isn’t likely to be “forever,” the head of the UK's white-collar crime prosecutor has said, warning companies that his agency still has an “appetite” to go after ... (more story)

Former Cognizant executives get US bribery charges dropped under Trump order April 02, 2025 | Samuel Rubenfeld

US federal prosecutors are dropping bribery charges against two former executives of Cognizant Technology Solutions, citing a “recent assessment” of the case under President Donald Trump’s executive order paus... (more story)

Ex-Barclays boss Staley knew risk of misleading FCA over Epstein, UK court told April 02, 2025 | Martin Coyle

Former Barclays boss Jes Staley made false claims about his relationship with disgraced financier Jeffrey Epstein, a UK court was told today as closing arguments began in a month-long trial. Staley is fighting... (more story)

Ex-Wyelands director George Jay Hambro fined GPB72,000 by UK watchdog (update*) April 02, 2025 | Sofia Gerace

A former non-executive director at collapsed Wyelands Bank was handed a fine of 72,000 pounds by the UK prudential watchdog for breaches of conduct rules between 2017 and 2020. Last month, audit company PwC ha... (more story)

Deutsche Bank units fined over 'greenwashing' scandal April 02, 2025 | Martin Coyle

Two Deutsche Bank units have been fined 25 million euros ($27 million) by German prosecutors over allegations of "greenwashing" financial products. Today's fine follows similar action taken against one of the ... (more story)

Wife of billionaire Russian banker takes sanctions appeal bid to UK's top court April 02, 2025 | Martin Coyle

Anzhelika Khan, the wife of a billionaire Ukrainian-Russian business tycoon, has lodged a bid to overturn her sanctions designation at the UK’s top court.

Former Cognizant executives seek another two-week delay of US bribery trial April 01, 2025 | Samuel Rubenfeld

Two former executives of Cognizant Technology Solutions have asked for an additional two-week adjournment of their corruption trial. The request for the delay appears to have been made in a letter filed Friday... (more story)

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Order pausing bribery cases to end US legal saga for ex-Cognizant executives April 02, 2025 | Samuel Rubenfeld

An executive order from President Donald Trump pausing enforcement of the Foreign Corrupt Practices Act is set to end a legal saga for two former executives of Cognizant Technology Solutions who were due to fa... (more story)

UK payments lobbyists focus on Consumer Standard Of Caution for fraud March 27, 2025 | Phoebe Seers

After a series of victories for the payments industry in its fight for a less constrictive regulatory regime, attention is now likely to turn to an often-overlooked provision in the UK’s fraud-reimbursement ru... (more story)

Concerns about lost focus on payments are reasonable, UK regulator says March 26, 2025 | Phoebe Seers

Concerns that a move to abolish the UK’s dedicated payments regulator could result in less focus on payments are “absolutely reasonable,” a senior official from that regulator has said. “If we don’t think abou... (more story)

Four years in, Europe’s ‘youngster’ prosecutor’s office EPPO faces challenges March 25, 2025 | Martin Coyle and Phoebe Seers

With more than 2,500 active investigations linked to damage worth 24 billion euros, the European Public Prosecutor's Office has come a long way since 2020, when staff sat at their desks without computers. But ... (more story)

New US Corporate Transparency Act rule guts financial crime efforts, analysts say March 24, 2025 | Samuel Rubenfeld

A new interim rule from the US Treasury Department narrowing the scope of an anti-money laundering law could significantly harm efforts to combat financial crime, experts said.  The new rule formalizes changes... (more story)

European bribery enforcers' tie-up signals resolve despite US retreat March 21, 2025 | Martin Coyle and Samuel Rubenfeld

News that Europe’s top foreign-bribery prosecutors will band together and collaborate more closely will inevitably be seen as a response to a US retreat from enforcement, even though they say it has been years... (more story)

Canada accelerates timeline for anti-money laundering regulatory changes March 17, 2025 | Samuel Rubenfeld

The Canadian government has moved up its timeline for changes to its anti-money laundering regulatory regime, bringing them into force on April 1 – six months earlier than originally proposed. Companies subjec... (more story)

US cybersecurity defenders alert to Russian threat as government downsizes March 10, 2025 | Madeline Hughes and Maria Dinzeo

US cybersecurity defenders in the private sector remain on alert for Russian threats even as the federal workforce has been hit with staff reductions and reports indicate national agencies may be softening on the issue.