Reported by Allen & Overy LLP – Justin Cooke, Jorge Coronel, Dario de Martino, Todd Fishman, Daniel Guyder, Eugene Ingoglia, Christine Liu, Leland Smith, and Ayyan Zubair The Order by Judge Torres, while addressing many important questions predominating over the regulation of digital assets, likely raises as many new question as it answers. We believe […]
Reported by Federal Reserve The Federal Reserve imposed a $186 million fine on Deutsche Bank on Wednesday, saying it moved too slowly to fix problems with the bank’s money-laundering controls that the bank regulator flagged in 2015 and 2017. In fining the bank, the Fed issued a new order that requires Deutsche “to prioritize completion” […]
Reported by Protos Staff Chinese police have arrested 21 members of a major Tether money laundering ring that processed 380 million yuan ($55 million) in USDT across four provinces, according to local news outlet CCTV. Authorities in Qinshui County discovered in April that the bank account of a resident named Mouyue Zhao had an abnormal flow […]
Reported by C-SPAN The Commission on Security and Cooperation in Europe, also known as the Helsinki Commission, held a hearing on allegations of Russia evading sanctions through money laundering in Swiss banks. One of the witnesses was financier Bill Browder, who did business in Russia before being barred from the country in 2005 for taking […]
Reported by The New Voice of Ukraine Ukraine’s SBU security service and the Economic Security Bureau of Ukraine (ESBU) have exposed the owners and top management of a Kyiv bank involved in large-scale money laundering by underground online casinos, the SBU reported on July 18. The perpetrators laundered almost UAH 5 billion ($136.7 million) since the beginning of […]
Reported by Frederick L. Block, Kelly L. Gibson, Susan D. Resley, Daniel B. Tehrani, Justin D. Weitz, Alyse (“Ali”) J. Rivett, and Michelle M. Arra The SEC filed four separate complaints in the US District Court for the Southern District of New York alleging insider trading by 13 defendants. Simultaneously, the US Attorney’s Office for […]
Reported by Lukas I. Alpert A European tax advisor to a global set of star DJs and supermodels has been arrested on charges that he created a network of illegal tax shelters to help his clients avoid paying U.S taxes on over $100 million of earnings. Frank Butselaar, 63, of the Netherlands, is accused of […]
Reported by Mirko Zorz, Director of Content, Help Net Security Google Cloud’s AML AI represents an advancement in the fight against money laundering. By replacing outdated transaction monitoring systems and embracing AI technology, financial institutions can now stay ahead of evolving financial crime risks, improve operational efficiency, ensure regulatory compliance, and deliver a superior customer experience. […]
Reported by HENRY POPE Brazilian federal authorities announced Friday an investigation into the laundering of more than R$80 million (US$16.4 million) of illegally mined gold through shell companies in the foodstuffs and medical supply industries. Brazilian federal authorities are investigating a Guyanese businessman suspected of laundering millions worth of gold through shell companies. (Photo: Ministério […]
Reported by Kenneth Corbin Government and industry regulators have fined Merrill Lynch $12 million over allegations that the firm failed for more than a decade to file the required Suspicious Activity Reports (SARs) flagging transactions that it knew or suspected were being used to support criminal activity. The Securities and Exchange Commission and brokerage industry […]
Financial Crime News Briefs 