Wise rebuked by European watchdog over money laundering controls

Regulatory review in 2022 found fintech lacked proof of address for hundreds of thousands of customers

Topics

Metro Bank fined £17mn for anti-money laundering control failings

UK lender failed to ensure automated system was correctly checking customer transactions
Business - Financial Times - November 12
UK imposes sanctions on Isabel dos Santos in money laundering crackdown

Africa’s former richest woman and exiled Ukrainian oligarch Dmytro Firtash among trio hit by measures
World - Financial Times - November 21
Swiss prosecutor charges Lombard Odier with money laundering

Former employee of private bank also charged in case relating to daughter of former Uzbekistan president
Business - Financial Times - 3 hours ago
Iran activates ‘new advanced centrifuges’ after nuclear watchdog’s rebuke

Move follows resolution by International Atomic Energy Agency saying Tehran failed to co-operate with investigation
World - Financial Times - November 22
Major bitcoin hacker Lichtenstein gets five years in prison for crypto laundering scheme

The value of the bitcoin stolen by hacker Ilya Lichstenstein from Bitfinex in 2016 is worth more than $10 billion now.
Business - CNBC - November 15
Loyalty cards offer genuine savings, watchdog says

Supermarket customers can save money with loyalty cards but should still shop around.
Top stories - BBC News - 2 days ago
Money talks as oligarch Alisher Usmanov moves to regain control of fencing | Philippe Auclair

Ethics aside, the Russian’s possible return should be absurd given he cannot set foot in the country where the International Fencing Federation is based. There are few equivalents of the G7, Brics ...
World - The Guardian - November 7