Welcome to our weekly newsletter that provides you with the most recent updates and insights regarding AML, financial crime compliance, and emerging risks.

This edition begins with a federal judge who has sentenced former banking CEO Laffitte for committing financial crimes, marking a significant legal outcome in the case. Moving on, SEC has filed a lawsuit against projects associated with Richard Heart, alleging fraud in the cryptocurrency sector, prompting industry-wide scrutiny.

Furthermore, we shed light on Singapore PM who has suspended an Indian-origin minister and cut his pay amidst a corruption probe, reflecting concerns over governance. In another noteworthy story, the FBI investigates Vesttoo’s alleged USD 4 billion fraud, resulting in layoffs and scrutiny of fake letters of credit; the company vows cooperation.

Additionally, we report on Ex-F1 CEO Bernie Ecclestone’s fraud case in Singapore sees close cooperation with UK authorities and implicates a bank trust in the alleged wrongdoing. Lastly, Santander and Lloyds could be confronted with a GBP 1 billion claim over allegations of pushing customers into costly car finance agreements.