Daily

UK: Major Crackdown On Foreign Exchange Fraud

  A 13-month investigation has found that at least six of the world’s major banks have failed to stop traders from manipulating the foreign exchange market, resulting in the banks being fined a total of US$ 4.3 billion, the largest fine ever imposed by UK’s Financial Conduct Authority (FCA).

US: Former Venezuelan Judge Admits Cartel Involvement

A former judge and ally of the late Venezuelan President Hugo Chavez has pleaded guilty to extortion, obstruction of justice and money laundering in Miami federal court. As Reuters reports, the case is part of US efforts targeting high- ranking Venezuelan government officials suspected of cooperating with drug cartels.