Financial Crime Weekly Episode 289

Welcome to episode 289 of the Financial Crime Weekly Podcast. I am Chris Kirkbride. In this episode, on sanctions, UK OFSI guidance regarding specific financial licences post-delisting, a new UK property lease general licence alongside autonomous sanctions against two Iranian nationals, OFAC designations targeting Cartel del Noreste's commercial and horse racing networks, and the EU's largest-ever sanctions package against Russia. On fraud and money laundering, there is a guilty plea by a former US postal carrier in a $34 million mail theft scheme, over $1.9 billion in combined US regulatory penalties against Bank of America for Bank Secrecy Act, AML, and sanctions violations, and the arrest of Alvaro Pulido Vargas in connection with $1.6 billion in Venezuelan bribery and money laundering schemes. In market abuse and regulatory updates, there are joint FCA and NCA arrests targeting an organised insider dealing ring, the court-ordered winding up of UK firm Ellan NW Ltd for subverting insolvency procedures to evade creditor claims, updated Serious Fraud Office corporate self-reporting guidance, and a major UK government consultation on whistleblowing reform and a proposed SFO economic crime informant reward scheme. Finally, on cybersecurity, cyber incidents impacting Italy's Foreign Ministry, retailer Asos, and Swiss pension fund Publica, alongside a joint international advisory exposing China-based Integrity Technology Group for supporting global cyber-attacks.

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

The photograph on the podcast cover art is by Sora Shimazaki at Pexels, and the stinger sample between each news section is ‘Ben Logo 1’ by BenKirb from Pixabay.