News

Midweek Roundup: Malaysian Central Bank Latest Target of Swift Hackers, Bahraini Lender Helped Iran Evade Sanctions, and More

Bahrain-based Future Bank allegedly used a complex wire-stripping scheme to conceal at least $7 billion in transactions tied to Iran, according to legal documents cited by the Washington Post. More Malaysia’s central bank claimed that hackers Tuesday attempted to siphon funds by using fraudulent payment instructions administered by Swift, the Society for Worldwide Interbank Financial Telecommunication, Reuters reported. More The U.K. Financial Conduct Authority is pursuing roughly 75 money-laundering cases against firms and individuals, the Financial Times reported. More U.K. lawmakers launched an inquiry into the effectiveness of the nation’s anti-money laundering and sanctions rules. More U.K. regulators said European...

TO READ THE FULL STORY