Financial crimes

FTX Trading is considering proposals from three bidders to restart trading on what had been one of the world's biggest crypto exchanges before the company sank into bankruptcy amid fraud allegations.

The Treasury Department's Financial Crimes Enforcement Network issued an alert Friday calling on financial institutions to closely monitor and report suspected financial activities related to Hamas, including complex cryptocurrency transactions and through fictitious charities.

After Archegos' collapse, Nomura had lost almost $3 billion, one of the biggest losses in the history of the prime-broker industry that caters to investment funds.

The Commodity Futures Trading Commission filed a lawsuit against Stephen Ehrlich in U.S. federal court in New York, claiming he and Voyager 'fraudulently solicited participation in and operated a digital asset trading and custody platform.'

Donald Trump wanted to get higher on the Forbes billionaires list and save a fortune on loan terms by overvaluing his properties, according to documents presented by New York Attorney General Letitia James at the former president's civil fraud trial. 

The New Jersey senator, who is a powerful member of the Banking Committee, is facing calls from fellow Democrats to resign. He was released on Wednesday after posting a $100,000 bond.

The move to create data consortia and proprietary information networks is creating exactly the kind of information silos that money launderers exploit today.

Treasury's Financial Crimes Enforcement Network said most small businesses will need to report information about their beneficial owners at the start of next year; certain financial and government entities are exempt because of their preexisting regulatory requirements.

Bancrédito International Bank and Trust Corp. "willfully violated" the Bank Secrecy Act, according to the Financial Crimes Enforcement Network. The penalty was the first under a two-year-old federal rule aimed at closing gaps in anti-money-laundering enforcement.

The $100 million-asset bank ran afoul of various regulatory standards, including credit oversight, anti-money-laundering controls and third-party risk management.