INTERNATIONAL. Peregrine Financial Group, a futures brokerage with US$396 million in customer funds, is being investigated in the US for alleged missing money as founder Russell Wasendorf Sr. unsuccessfully attempted suicide.
INTERNATIONAL. Economic crime in financial services outpaces other industries; Increased spending on compliance fails to reduce economic crime; 10% of economic crime reported by UK respondents was perpetrated internally.
INTERNATIONAL. Iran received its first delivery of Russian-made S-300 air defense systems in May; Satellite imagery shows intensive construction underway at an air base near Tehran to accommodate the systems.