Financial Crime Weekly Episode 181

Hello, and welcome to episode 181 of the Financial Crime Weekly Podcast, I am Chris Kirkbride. In this episode, we look at US Treasury's action against an Iraqi-led network for smuggling Iranian oil disguised as Iraqi crude, and the UK and EU's decision to slash the Russian oil price cap to $47.60. In money laundering, updates on HM Treasury's approval of JMLSG guidance, FATF's new National Risk Assessment toolkit to help nations identify threats, and the Wolfsberg Group's latest framework for monitoring suspicious activity. Fraud saw major moves with a new U.S. Trade Fraud Task Force from the DOJ and DHS, and the UK enacting a landmark corporate offence for failure to prevent fraud. We'll look at Portugal's progress and areas for deeper reform in anti-corruption as noted by GRECO, insider trading convictions and repayments from the West brothers, and the SFO's review of rate-rigging convictions following a Supreme Court ruling. Finally, in cybercrime, we'll look at the statewide government shutdown in Nevada due to a ransomware attack, the alarming misuse of Anthropic AI by hackers in espionage and extortion schemes, a massive data breach fine for SK Telecom, and a new ISO/IEC standard targeting AI-driven morphing attacks in biometric ID fraud.

A transcript of this podcast, with links to the stories, will be available at www.crimes.financial.