Reported by the United States Attorney’s Office for the Eastern District of New York Defendant Facilitated More Than $1 Billion in High-Risk Transactions Without Required Anti-Money Laundering Compliance Program Earlier today, in federal court in Brooklyn, Gyanendra Asre pleaded guilty to failing to maintain an anti-money laundering program in violation of the Bank Secrecy Act, […]
Reported by Rick Schindler YouTube has deleted a thousand videos circulating on its platform that purportedly showed Taylor Swift, Steve Harvey and Joe Rogan denouncing a Medicare scam, 404 Media reported today. The videos the celebrities appeared to be showing were not legitimate advertisements for Medicare plans that would help seniors meet their health care […]
Reported by Jesse Hamilton HyperVerse was a nearly $2 billion fraudulent crypto investment scheme with a fake CEO at its helm, the U.S. Securities and Exchange Commission (SEC) and a grand jury allege in a lawsuit and criminal indictments against two of its leaders. The online investment business, which variously carried brands including HyperFund, HyperCapital and HyperTech, is said […]
Reported by Vincent Noce Amr al-Madani, the head of the Al-Ula project in Saudi Arabia, was arrested over corruption allegations on 28 January. The chief executive of the huge development project in the country’s northwestern province is accused of “abuse of authority and money laundering“, a source from the Saudi anti-corruption agency (Nazaha) told local […]
Reported by HELEN SANTORO As of January 1, small businesses must report who owns and controls the company to financial regulators or face stiff penalties. The disclosure is required under a new anti–money laundering law designed to curb tax fraud and terrorism financing. But while mom-and-pop cafe and hardware store owners are now busy filling […]
Reported by KTNV Staff The former president of the MGM Grand casino has pleaded guilty to a federal charge for failing to file required reports of “suspicious transactions.” Following an investigation into alleged violations of money laundering laws and the Bank Secrecy Act, the MGM Grand and The Cosmopolitan of Las Vegas casinos have entered […]
Reported by Fenergo Fenergo, the leading provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring and Client Lifecycle Management, released today its annual financial institution fines analysis, shedding light on fines imposed on in the United States. The study analyzed penalties imposed by US regulators from January to December 2023, discovering a 69% […]
Reported by Rebecca R. Ruiz and Tariq Panja Nearly a decade after police officers marched world soccer officials out of a luxury hotel in Zurich at dawn, revealing a corruption scandalthat shook the world’s most popular sport, the case is at risk of falling apart. The dramatic turnabout comes over questions of whether American prosecutors […]
Reported by The Commodity Futures Trading Commission’s Office of Customer Education and Outreach (OCEO) Scammers claim AI-created algorithms can generate huge returns—sometimes tens of thousands of percent—or yield 100 percent “win” rates. These dubious claims have been made about algorithms that automatically place trades, known as “bots,” and algorithms that provide buy and sell signals […]
Reported by Sarah Kent What do the new sanctions do? Though the US and UK banned direct imports of rough diamonds from Russia shortly after the war began, stones cut and polished elsewhere in the world had remained fair game — until now. But as of the start of January, EU and G7 countries have […]
Financial Crime News Briefs 