Financial Crime Weekly Episode 77

Hello, and welcome to episode 77 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Sanctions have taken a back seat this week, but plenty on fraud and money laundering to take up the slack. There’ll also be a round-up of the mass of cyber-attack news this week.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Criminal Cases Review Commission, Five more ex Post Office workers have convictions set aside.

Financial Action Task Force, Anti-money laundering and counter-terrorist financing measures: Luxembourg Mutual Evaluation Report.

House Oversight Committee (Cybersecurity, Information Technology, and Government Innovation and Economic Growth, Energy Policy, and Regulatory Affairs Joint Hearing), Combating Ransomware Attacks.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (27/09/2023).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (29/09/2023).

Office of Financial Sanctions Implementation, Correspondent Banking Payments INT/2023/3566356.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK? (updated).

Reynolds Porter Chamberlain, Cybersecurity breaches at financial services firms more than trebles.

Securities and Exchange Commission, SEC Charges Former Financial Industry Analyst and Three Others with Insider Trading.

Serious Fraud Office, Nick Ephgrave QPM begins tenure as Director of the Serious Fraud Office.

UK Government, UK announces new sanctions in response to Russian sham elections in Ukraine.

US Department of Justice, Two Brothers Plead Guilty To COVID Relief Fraud.

US Department of Justice, Five Cleveland-Area Men Sentenced to Imprisonment and Ordered to Pay Over $800,000 as part of a Pandemic Unemployment Assistance Fraud Scheme.

US Department of Justice, Two Promoters Charged in Alleged Nationwide Illegal Abusive-Trust Tax Shelter Fraud Scheme.

US Department of Justice, Former Employee of Two Leading Global Financial Institutions and his Associates Charged with Insider Trading.

US Department of Justice, Albemarle to Pay Over $218M to Resolve Foreign Corrupt Practices Act Investigation.

US Department of the Treasury, Office of Foreign Assets Control, OFAC Settles with 3M Company for $9,618,477 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations.

US Department of the Treasury, Office of Foreign Assets Control, OFAC Settles with Emigrant Bank for $31,867.90 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations.

US Department of the Treasury, Office of Foreign Assets Control, Settlement Agreements between the U.S. Department of the Treasury’s Office of Foreign Assets Control and 3M Company, and with Emigrant Bank (press release).

US Securities and Exchange Commission, Deutsche Bank Subsidiary DWS to Pay $25 Million for Anti-Money Laundering Violations and Misstatements Regarding ESG Investments.

US Securities and Exchange Commission, Albemarle Corp. to Pay SEC More Than $103 Million to Settle FCPA Violations.