A former relationship manager at an international bank in Malaysia has been sentenced to seven years in prison and fined RM40 million after admitting to a scheme that defrauded eight elderly customers of more than RM1.58 million and involved the laundering of the proceeds through third-party accounts. Kho Yung Kang, 39, appeared before the Sessions Court in Kuching and pleaded guilty to 24 charges comprising 16 counts of cheating and eight offences under Malaysia's Anti-Money

Citibank's London branch has been fined £4.73 million by the UK's Office of Financial Sanctions Implementation (OFSI) after a regulatory investigation identified widespread failures that allowed hundreds of transactions involving sanctioned Russian entities and individuals to pass through the bank. The penalty relates to 970 payments with a combined value of approximately £19.7 million. Most of the breaches occurred between February and November 2022, following the introducti

Brazilian authorities have launched a major investigation into NSX Group, the operator behind Betnacional and Betfair’s Brazilian operations, over allegations involving tax evasion, currency violations and money laundering. The investigation comes as authorities intensify scrutiny of the rapidly expanding betting sector and seek to establish whether some operators continued using financial structures associated with the pre-regulation market after Brazil introduced its licens

Nearly half of household expenditure across the European Union was devoted to basic necessities in January 2026, according to official data from Eurostat. The statistical office of the European Union reported that 46.0 per cent of total household consumer spending was allocated to three essential areas: food and non-alcoholic beverages, housing, water and energy, and transport. These three categories have also experienced significant price increases in at least one recent yea