Reported by: Jeremy Sharon According to the Israel Money Laundering and Terror Financing Prohibition Authority, which operates under the Justice Ministry, organized crime’s share of all financial crimes grew from 6.8 percent in 2020 to 19% in 2021. Organized crime in the Arab sector has become a severe problem in recent years. The scarcity of […]
Reported by: Kyle Jaeger The U.S. Treasury Department has formally sent the White House its proposal to start collecting data on marijuana businesses from banks—alongside industries it already tracks like liquor stores, convenience stores, casinos and car dealers—as part of its ongoing efforts to combat money laundering activities. In a notice published in the Federal […]
Reported by: Kaye Wiggins Sweden’s financial regulator has closed a year-long market abuse probe into a $2.7bn share sale by top executives at private equity group EQT and will not take action against the buyout group. The Swedish Financial Supervisory Authority investigated whether Stockholm-based EQT violated market abuse rules by failing to promptly disclose that […]
Reported by: Department of Justice, U.S. Attorney’s Office Eastern District of New York Viktor Zelinger, also known as “Vitya” and “Vityok,” the alleged leader of an Eastern European organized crime syndicate that operated in the Brighton Beach, Sheepshead Bay and Coney Island neighborhoods of Brooklyn and was linked to high-level Russian mafia members known as […]
Reported by: Savannah Fortis The electronic payments provider ePayments is putting the final nail in the coffin of its operations. ePayments issued email notices to clients on Tuesday, stating that it is officially closing its business operations in light of local regulations. The financial services provider was one of the largest electronic payment providers in […]
Reported by: Richard Nalley According to a study by industry group ABL (American Beverage Licensees), wine fraud today is an estimated $9 billion a year global problem, costing thousands of legitimate industry jobs and depriving governments of billions in tax revenues. The criminal activity encompasses Ponzi schemes, burglary, bank fraud, con jobs, smugglers, mysterious warehouse […]
Reported by: Luc Cohen The brother of a former Coinbase Global Inc (COIN.O) product manager pleaded guilty on Monday to a wire fraud conspiracy charge, in what U.S. prosecutors have called the first insider trading case involving cryptocurrency. Nikhil Wahi, 26,admitted during a virtual court hearing before U.S. District Judge Loretta Preska in Manhattan that […]
Reported by: Emma Dunkley Austrac, Australia’s financial crime watchdog, is investigating Entain to check whether the London-listed betting company has complied with anti-money laundering and counter-terrorism financing rules. Entain Australia, which last year accounted for about a tenth of group revenue, said it was “co-operating with the investigation which relates to the historical period from […]
Reported by: Stephen Breen The crumbling Kinahan cartel has forged links with Hezbollah and Iran, the Irish Sun has learned. Of the Kinahans, a source said: “They’ve established money laundering links to Hezbollah and Iran. “It’s purely about money, as Hezbollah is one of the main local laundering operations. “Every major organised crime group on […]
Reported by: Samantha Delouya Bed Bath & Beyond CFO Gustav Arnal was named in an insider trading lawsuit less than two weeks before he was found dead in an apparent suicide on Friday. The proposed class action lawsuit, filed on behalf of an individual investor Pengcheng Si, names Bed Bath & Beyond, Arnal, Ryan Cohen, […]
Financial Crime News Briefs 