Reported by Commerce Department’s Bureau of Industry and Security (BIS) (Summary version featured below) The Framework for Artificial Intelligence Diffusion, published by the U.S. Department of Commerce on January 15, 2025, establishes regulations to manage the international distribution of advanced artificial intelligence (AI) technologies. The rule focuses on strengthening export controls for dual-use AI models […]

Reported by SAS (Summary below. Download for full version) The SAS white paper “How AI and Machine Learning Are Redefining Anti-Money Laundering” discusses the integration of artificial intelligence (AI) and machine learning (ML) into anti-money laundering (AML) efforts to enhance the detection and prevention of financial crimes. Traditional AML systems often rely on rule-based methods, […]

Reported by ARTHUR PARASHAR Controversial influencer Andrew Tate had millions of pounds laundered through British bank accounts run by a woman linked to an ex-girlfriend, according to court documents. The woman, whose accounts were traced to a property in the West Country, transferred as much as $12million (almost £10million) through four accounts, an investigation has […]

Reported by Karen Gibbs As 2025 unfolds, RIA leaders must prepare for regulatory changes shaped by a new administration. Although the nominee for SEC Chair, Paul Atkins, signals a potential pivot toward deregulation and industry-friendly policies, I continue to encourage all my RIA clients to not let their guard down. Think of it as driving […]

Reported by Alexandra Stevenson (Summary version featured below) Days before Donald J. Trump’s inauguration as President, tensions between China and the United States escalated, with China issuing a series of retaliatory measures targeting American industries. These included a potential investigation into U.S. chipmakers, sanctions against an American retailer, and plans to impose duties on industrial […]

Reported by the U.S. Department of the Treasury The U.S. Department of the Treasury has intensified efforts to counter Russian sanctions evasion by targeting collaborations with Chinese actors to facilitate payments for sensitive goods. Additionally, a Kyrgyz Republic-based financial institution, Keremet Bank, is being sanctioned for working with Russian officials and a U.S.-designated bank in evasion […]

Reported by Ben Miller (Summarize version featured below) The Bloomberg Tax article “Wall Street Fraudsters’ Sentences Bake in Risk of Future Crimes” discusses how the U.S. legal system incorporates the potential for future offenses when sentencing individuals convicted of financial crimes. Judges often consider the likelihood of recidivism, aiming to deter not only the convicted […]

Reported by Chanyaporn Chanjaroen and Cliff Harvey Venzon (Summary version featured below) The case of Alice Guo, the former mayor of Bamban, Philippines, highlights the deep entanglement between money laundering, transnational crime, and the online gambling industry in Southeast Asia. In February, a raid on a compound in Bamban uncovered over 600 people from seven countries, detained […]

Reported by JENNIFER CONRAD Human resources payroll startup Deel has been accused of money laundering and sanctions evasion, according to a complaint brought in federal court in Miami. The San Francisco-based startup was founded in 2019 by Alex Bouaziz and Shuo Wang on the promise of simplifying paycheck processing, tax reporting, and other financial paperwork […]

Reported by Vinay Patel Jamie Dimon, CEO of JPMorgan Chase, recently reaffirmed his strong criticism of Bitcoin, calling it a “decentralized Ponzi scheme” and a “fraud.” In an interview with CBS News’ Lesley Stahl, Dimon maintained his skeptical stance, questioning Bitcoin’s value. “We are going to have some kind of digital currency at some point,” […]