"We will never be able to stop all money laundering. The criminals are too smart. So how do we solve this for the future? By everybody in the bank talking and thinking about this. This is something that will be with the bank forever. It should be part of our DNA, fighting against money laundering". The chief executive of Swedbank tells the Financial Times

China’s Xinhua News Agency, the official state-run press agency of the PRC, reports that Chinese law enforcement authorities filed around 159,000 cases of economic crimes last year, recouping over 100 billion yuan (USD 14 billion).

The Washington Post reported on Israel’s largest bank being fined almost $1 billion after admitting it helped U.S. customers in setting up secret accounts, sheltering assets and income, and evading taxes in illegal offshore accounts and, in a separate case, that it laundered money as part of a bribery scandal involving FIFA soccer officials.

The UK government’s Serious Fraud Office, which investigates and prosecutes serious or complex fraud, bribery and corruption, has stopped processing all evidence in the form of paper documents or seized devices due to the Coronavirus pandemic, reports the Financial Times. Handling physical evidence, including personal computers or USB memory sticks, is being regarded as a virus transmission risk, and with the majority of SFO staff now working from home, the anti-corruption agency is only able to accept electronic evidence in a specific data format.

75 years ago, British Prime Minister Winston Churchill announced on the radio that the war in Europe had come to an end. Today we celebrate that momentous occasion as ‘Victory in Europe Day’, or just 'VE Day'.

The late former Nigerian military dictator Sani Abacha is said to have funnelled an eye-watering £4 billion into secret overseas bank accounts during his 5-year reign. The London Times reports in an article that £250 million of the looted cash has now been returned by banks in Jersey and America - the largest such sum to be repatriated by the US. The £250 million was laundered through the US banking system and then held in accounts in Jersey, but also involved financial institutions in France, Germany, Switzerland, Lichtenstein and Luxembourg.