Reported by Agence France-Presse Syria’s leader Ahmed al-Sharaa told Al Arabiya on Sunday that elections could take four years, noting the importance of ties with Iran and Russia and calling for the United States to lift sanctions. “The election process could take four years,” Sharaa told the Saudi-owned Al Arabiya television, three weeks after his […]

Reported by Office of Public Affairs – U.S. Department of Justice Distribution of Over $131M Brings Madoff Victim Recovery to Nearly 94% of Fraud Losses The Justice Department announced today that the Madoff Victim Fund (MVF) began its 10th and final distribution of over $131.4 million to victims of the Bernard L. Madoff fraud scheme. […]

Reported by Mattathias Schwartz Millions of corporate entities will not have to share information about their owners with the Treasury Department after an appeals court reversed a decision that would have required them to do so by Jan. 1. Under the Corporate Transparency Act, an anti-money-laundering law that passed in 2020, companies would have had […]

Reported by JAMES M. GATHECHA The U.S. Treasury Department and the Internal Revenue Service (IRS) have unveiled a tax reporting framework that will affect the fast-growing decentralized finance (DeFi) sector. This new regulatory framework introduces several key provisions designed to ensure compliance and capture tax revenue from the rapidly expanding industry, including a requirement for […]

Reported by Aimee Picchi With the court ruling that enforcement can proceed, many small business owners may scramble to register ahead of deadline, although FinCEN said on Dec. 23 that it is extending the deadline until Jan. 13 due to the late December court ruling. “Reporting companies that were created or registered prior to Jan. […]

Reported by Aleks Gilbert US-based websites and crypto wallets that provide easy access to the world of decentralised finance must perform background checks on customers and record their every transaction starting in 2027, the Treasury Department said Friday. Crypto developers and attorneys have long warned the rules could pose an existential threat to decentralised finance, the blockchain-based […]

Reported by Thomas Bock, Fernanda Barroso, and David Lewis (Summary version featured below) The 2024 global election cycle has been pivotal, with countries representing over three-quarters of the world’s population participating in elections. These political transitions are poised to significantly influence financial crime regulation and enforcement. The financial integrity of election campaigns, candidates, and political […]

Reported by FinCEN In light of a December 23, 2024, federal Court of Appeals decision, reporting companies, except as indicated below, are once again required to file beneficial ownership information with FinCEN. However, because the Department of the Treasury recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction […]

Reported by Lars Bové (De Tijd), Yanina Korniienko (Slidstvo), Elena Loginova (OCCRP), Mašenjka Bačić (Oštro) (Summary version featured below) Belgian authorities have launched a money laundering investigation involving Iryna Kut, a Ukrainian businesswoman and owner of the diamond company IKG, based in Antwerp. As part of the probe, approximately $2 million has been seized. Concurrently, […]

Reported by Anisah Shukry and Nurin Sofia Rosmah Mansor, the wife of Malaysia’s former Prime Minister Najib Razak, was granted a full acquittal in her money-laundering and tax evasion case, in the latest legal victory for individuals linked to one of the country’s ruling parties. Malaysia’s High Court allowed Rosmah’s application to strike out all 17 charges she faced […]