Reported by: Reuters LONDON (Reuters) -Britain’s financial regulator is investigating Barclays PLC for suspected failings in its compliance and anti-money laundering systems, the Financial Times reported on Friday. The Financial Conduct Authority (FCA) requested an independent review of Barclays’ systems last year after noting the number of anti-money laundering incidents, the newspaper reported, citing people […]
Reported by: SABRINA WILLMER A US law passed after Russia invaded Ukraine has given a boost to a flawed Treasury Department program that lawyers claimed deterred whistleblowers from providing tips on the role of banks in sanctions and anti-money laundering violations. As a result, Treasury’s Financial Crimes Enforcement Network, or FinCEN, has gotten more than […]
Reported by: KEVIN GEORGE The NYDFS ordered Paxos to stop minting BUSD tokens due to “several unresolved issues related to Paxos’ oversight of its relationship with Binance through Paxos-issued BUSD.” This is not the first time that Binance, the world’s largest crypto exchange, has found itself in hot water with U.S. regulators. Binance has been […]
Reported by: ELLEN CHANG As sports betting ramps up and fans are eager for any ticket or merchandise deals, the number of phishing attempts rise as hackers target large sporting events like the Super Bowl to make a big score. Consumers and companies should be prepared for a wide range of scams to occur around […]
Reported by: Andy Mukherjee | Bloomberg Accusations of stock-market manipulation by the Adani Group, strenuously denied by the conglomerate, have shone the spotlight on a festering global problem loosely estimated to amount to between 2% to 5% of the world’s output: Money-laundering. Obscure funds based in Cyprus and Mauritius, one of whom is linked to an intermediary that’s also alleged to have played a […]
Reported by: JON SHAZAR Given just how often banks get in trouble for fucking them up, over and over and over again, it seems like a real pain-in-the-ass to have to file suspicious activity reports. I mean, really, is it all that suspicious when a future president and his family have money pouring in from—let’s just say […]
Reported by: U.S. Department of Justice VLADIMIR VORONCHENKO, who resided at various times in New York, New York, Southampton, New York, Fisher Island, Florida, and Russia, held himself out as a successful businessman, art collector, and art dealer, and as a close friend and business associate of Viktor Vekselberg. On April 6, 2018, the U.S. […]
Reported by: Daniel Van Boom Before his precipitous fall from grace, Sam Bankman-Fried was crypto’s friendly face. His persona wasn’t just for customer consumption, but was also aimed at lawmakers. He lobbied politicians across both parties with his air of technocratic competence, and tens of millions of dollars in donations. Now, months after the company […]
Reported by: JACK DUTTON Ukrainian “anti-oligarch” President Volodymyr Zelensky and his inner circle’s network of offshore companies were not exposed in Panama Papers but can be found in the Pandora Papers, another tranche of files leaked by journalists that revealed the clandestine financial affairs of the elite and super rich. The Pandora Papers, published in […]
Reported by: NICHOLAS SAY The United States Department of Justice (DoJ) are scrutinizing Silvergate’s relationship with embattled crypto firms FTX and Alameda Research. The DoJ fraud unit is looking into Silvergate’s hosting of accounts connected to FTX and Alameda Research, according to a source familiar with the matter quoted by Bloomberg. The crypto-friendly bank plays a […]
Financial Crime News Briefs 