Reported by: Chris Cumming Congress is considering a vast expansion of anti-money-laundering rules to private-equity firms and other businesses in an effort to stamp out dirty money in the financial system, people who work with lawmakers said. A bipartisan group of senators is weighing whether to include in the annual defense appropriations bill the so-called […]
Reported by: JOSHUA GOODMAN For years, as the U.S. has ramped up pressure on Venezuela’s socialist government, dozens of allegedly corrupt insiders have raced through the U.S. criminal justice system, cutting plea bargains to avoid lengthy prison sentences and sparing prosecutors the work of having to prove their cases in court. But not Claudia Díaz. […]
Reported by: Turner Wright A blockchain firm that partnered with the Ukrainian government to launch a donation website amid the country’s war with Russia has pushed back against online rumors and conspiracy theories that its platform was used for politically motivated money laundering. Ukrainian government officials partnered with Everstake, Kuna and the now infamous crypto […]
Reported by: Reuters Denmark’s financial watchdog has reported lender Jyske Bank (JYSK.CO) to the police for possible breach of anti-money laundering legislation, it said on Monday. The Financial Supervisory Authority (FSA) said in a statement it among other things had found “significant shortcomings” in the bank’s customer due diligence measures. Read full report: https://www.reuters.com/markets/europe/danish-fsa-reports-jyske-bank-police-possible-breach-anti-money-laundering-act-2022-11-28/
Reported by: SEBASTIAN SINCLAIR&DAVID CANELLIS The US Securities and Exchange Commission (SEC) has long been a thorn in the side of the crypto ecosystem — and chairman Gary Gensler represents the very tip. Gensler’s SEC has been more prolific in its crypto cases this year. In January, Gensler directed staff to figure out how to get “these […]
Reported by: Joe Parkin Daniels in Bogotá and Felicia Schwartz in Washington The US on Saturday authorised Chevron to resume oil production through its joint ventures in Venezuela, after the socialist government in Caracas and the opposition resumed political talks in Mexico City. On Saturday, representatives of the Venezuelan government and the opposition returned to political negotiations in […]
Reported by: Gillian Tett This month might not seem the perfect moment for an institution such as Goldman Sachs to be championing the benefits of “blockchain” or “tokenisation”. After all, these buzz words first shot to fame in the cryptocurrency sector, which has lost two-thirds of its value during the past year. And the recent implosion […]
Reported by: Richard Vanderford A U.S. unit of South Korea’s Shinhan Financial Group has agreed to bolster the oversight of its anti-money-laundering program as part of a settlement with the Federal Deposit Insurance Corp. Shinhan Bank America, which operates bank branches in the U.S., agreed to ensure that its AML program was sufficiently capable of combating the […]
Reported by: Omar Faridi Featurespace, which claims to be the leader in machine learning fraud and financial crime prevention technology, has secured funding from UK and US governments “to build a new type of artificial intelligence (AI) system to help banks and payments service providers (PSPs) detect financial crime – whilst protecting data privacy.” The privacy enhancing […]
Reported by: Tim Craig, Drew Harwell and Nitasha Tiku Before Sam Bankman-Fried’s $16 billion empire imploded, Margaux Avedisian remembers thinking there was something unsettling about the cryptocurrency wunderkind. Bankman-Fried had become a legend by pushing an image of monkish aloofness, vowing to forsake the allures of his extraordinary wealth — sleeping on beanbag chairs, driving […]
Financial Crime News Briefs 