Laundering

Exclusive: Latest Guardian revelation about gift from cryptocurrency tycoon comes as Reform UK leader forces byelectionThe £5m gift to Nigel Farage by a cryptocurrency billionaire was reported to the National Crime Agency by bankers who were concerned it may have been laundered money, the Guardian can reveal.The disclosure will put further pressure on the Reform UK leader, who is awaiting a decision by the standards commissioner over whether his failure to declare the money breached parliamentary rules. Continue reading...

• Singaporean prosecutors have filed additional money laundering charges against a key suspect involved in an AI server fraud scheme. • The case is part of a broader crackdown on the illicit diversion of Nvidia Corp. chips to restricted locations, specifically targeting shipments to China. • This legal action highlights Singapore's increasing efforts to prevent the bypass of international export controls on high-end AI hardware.

International money transfer service’s shares tumble as it confirms discussions with prosecutor’s officeBusiness live – latest updatesWise, the UK-based international money transfer service and darling of the London fintech scene, has confirmed it is answering questions from Belgian prosecutors investigating money laundering, sending its shares tumbling.In a statement to the stock market, Wise said it was “currently working with the Brussels prosecutor to respond to queries about our business, as we routinely do with regulators and law-enforcement authorities. Continue reading...

• The Financial Action Task Force (FATF) gave Singapore a mixed review on Wednesday, praising its stability but warning of vulnerabilities as a global financial hub. • Singapore's wealth and political stability attract illicit actors seeking to launder funds, prompting FATF to urge stronger oversight measures. • The assessment impacts Singapore's reputation in international finance, potentially affecting banking regulations and cross-border transactions.