Month: April 2024

Written by FinCrime

DOJ Pilot Program Promises Non-Prosecution Agreements to Individuals Reporting Fraud, Bribery and Other Corporate Crimes

Reported by James J. Fredricks, Maria Cruz Melendez, Alessio D. Evangelista, Andrew M. Good, Ryan D. Junck, Bradley A. Klein, David Meister, and Bora P. Rawcliffe On April 15, 2024, the Department of Justice’s (DOJ’s) Criminal Division unveiled a new Pilot Program on Voluntary Self-Disclosures for Individuals that offers non-prosecution agreements (NPAs) to individuals who voluntarily disclose […]

Written by FinCrime

Gaming Control Board joins probe of money laundering in Nevada casinos 

Reported by DANA GENTRY The Nevada Gaming Control Board, which has remained awkwardly silent on the investigation of Las Vegas casinos and the prosecution of casino executive Scott Sibella by federal officials out of California, has joined the ongoing probe, according to two sources who say they’ve received calls from investigators.  The federal investigation, first reported by […]

Written by FinCrime

North Koreans Secretly Animated Amazon and Max Shows, Researchers Say

Reported by MATT BURGESS For almost a decade, Nick Roy has been scanning North Korea’s tiny internet presence, spotting new websites coming online and providing a glimpse of the Hermit Kingdoms’ digital life. However, at the end of last year, the cybersecurity researcher and DPRK bloggerstumbled across something new: signs North Koreans are working on major international TV shows. In December, Roy […]

Written by FinCrime

FinCEN Reminds Financial Institutions to Remain Vigilant to Environmental Crimes

Reported by FinCEN As the nation reflects on the many ways to protect our environment this Earth Day, the Financial Crimes Enforcement Network (FinCEN) reminds financial institutions to remain vigilant in identifying and reporting suspicious activity related to environmental crimes. Environmental crimes frequently involve transnational criminal activity related to several of FinCEN’s Anti-Money Laundering and Countering […]

Written by FinCrime

German regulator fines Commerzbank over anti-money laundering non-compliance

Reported by Reuters German financial watchdog BaFin has ordered Commerzbank (CBKG.DE) to pay a fine of 1.45 million euros ($1.55 million) for breaching its anti-money laundering duties, the regulator said on Monday. “Commerzbank AG and the former comdirect Bank AG, of which Commerzbank AG is the universal successor, had breached their supervisory duties,” said the regulator in […]

Written by FinCrime

Airlines Fly Hundreds of Billions in Dirty Cash for Global Money Launderers

Reported by PYMTS Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. And as The Wall Street Journal (WSJ) reported Sunday (April 21), a lot of that money travels by air, in cash. The report cited figures from the United Nations Office on Drugs and Crime and the Financial Action Task Force (FATF) showing that international […]

Written by FinCrime

Iranian Regime’s Shadow: Hezbollah’s Global Network of Drugs, Money Laundering, and Weapons

Reported by Mostafa Aslani A recent investigative report by French weekly Le Point, titled “Iran, Colombia, Lebanon, France… Hezbollah’s Billions,” exposes the expansion of the Iranian-backed militia’s financial resources. The report details Hezbollah’s involvement in drug trafficking and money laundering across several countries. Drug Trade as a Funding Source Le Point alleges that Hezbollah’s drug trafficking […]

Written by FinCrime

Real-Estate Agents, Investment Advisers Chafe at New Anti-Money-Laundering Rules

Reported by  Dylan Tokar Instances where private funds and real-estate purchases were used to launder illicit funds have garnered attention in recent years, but many industry participants feel the problem isn’t a systemic one. In letters to FinCEN, industry proponents questioned whether the threat warranted costly new processes and paperwork. Andreessen Horowitz, one of the […]

Written by FinCrime

Taylor Swift fans in the UK have lost $1.2M from Eras Tour scams

Reported by Shannon Thaler Taylor Swift’s loyal legion of Swifties in the United Kingdom have reportedly been scammed out of $1.2 million in their quest to see the pop star’s coveted “Eras Tour.” Some 90% of the cons have targeted 25 to 34-year-olds seeking tickets to Swift’s record-breaking international tour on Facebook, including Facebook Marketplace, […]