Reported by Middlesex County Prosecutor’s office Six Rutgers University students and one alum were charged this week with running a sophisticated drug ring — and allegedly used a “private social media network” to sell narcotics to fellow Scarlet Knights. New Jersey prosecutors allege RU alumnus Anudeep Revuri, 23, of New Brunswick, developed the closed network used by […]

Reported by Chris Nesi UnitedHealthcare CEO Brian Thompson was one of several senior executives at the company under investigation by the Department of Justice when he was gunned down outside a Manhattan hotel on Wednesday. Thompson — who was killed in what police called a targeted shooting outside the Hilton hotel in Midtown — exercised stock options and sold […]

Reported by Basel Institute on Governance Download full report: The 2024 Basel Anti-Money Laundering (AML) Index Report highlights global risks associated with money laundering and financial crimes. This independent report, produced by the Basel Institute on Governance, evaluates 164 countries and jurisdictions based on vulnerability to money laundering and related threats. The methodology incorporates 17 […]

Reported by Simon Van Dorpe The Belgian federal police raided several properties linked to former European Commissioner for Justice Didier Reynders on suspicion of money laundering, Follow the Money and Belgian newspaper Le Soir reported.  For years, Reynders allegedly bought lottery tickets through the National Lottery, an organisation which he was in charge of as a minister between 2007 […]

Reported by PAM LEWISON At the beginning of this year, most small businesses, including single ownership LLCs, became subject to corporate transparency filing requirements under the Corporate Transparency Act (CTA). Under the CTA, businesses subject to the law have until Jan. 1, 2025 to file all the beneficial ownership information (BOI) for each person who […]

Reported by Nectar Gan Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. In a letter to US Treasury Secretary Janet Yellen Monday, bipartisan leaders of the House Select Committee on […]

KYC in an Increasingly Complex Landscape Reported by Fenergo Summary of U.S.-Focused Insights from the KYC Trends 2024 Report Read full report – see attachment: 1. Rising Costs of KYC Compliance in the U.S.: Financial institutions (FIs) in the U.S. face significant compliance challenges, spending a substantial portion of their operational budgets on Know Your […]