Petrobras to Pay $3 Billion to End U.S. Lawsuits Over Graft

Brazil’s state-run energy explorer Petrobras agreed to pay $2.95 billion to compensate U.S. investors who lost money when a massive corruption scandal eroded the oil giant’s market value.

The settlement will end a three-year legal battle with holders of Petrobras’s American depositary receipts and bonds who filed lawsuits claiming large losses after Brazilian prosecutors exposed a wide-ranging money-laundering and kickback scheme involving the company in 2014. read more »

Rabobank takes 310 million euro provision over expected U.S. settlement

Rabobank, the Dutch cooperative bank, said on Tuesday it has taken a 310 million euro ($373 million) provision in the fourth quarter of 2017, ahead of an expected settlement with the U.S. government.

In a statement, the Dutch bank said its U.S. unit has been under investigation since 2013 by the U.S. Department of Justice over possible violations of the Bank Secrecy Act “and other regulations and statutes in relation to its historical anti-money laundering compliance program.” read more »

The Criminal Underworld Is Dropping Bitcoin for Another Currency

Bitcoin is losing its luster with some of its earliest and most avid fans -- criminals -- giving rise to a new breed of virtual currency.

Privacy coins such as monero, designed to avoid tracking, have climbed faster over the past two months as law enforcers adopt software tools to monitor people using bitcoin. A slew of analytic firms such as Chainalysis are getting better at flagging digital hoards linked to crime or money laundering, alerting exchanges and preventing conversion into traditional cash. read more »