Reported by HENRY POPE As part of President Joe Biden’s 2024 fiscal budget proposal, roughly half a billion dollars is set to be dedicated towards deterring criminal actors from laundering their ill-gotten gains through the U.S. financial system. If passed, President Joe Biden’s 2024 fiscal budget proposal would see roughly half a billion dollars dedicated towards […]
Reported by Anton Troianovski and Photograph by Andrea DiCenzo DUBAI, United Arab Emirates — On an artificial island on the edge of the Persian Gulf, Dima Tutkov feels safe. There are none of the anti-Russian attitudes that he hears about in Europe. He has noticed no potholes or homelessness, unlike what he saw in Los […]
Reported by: Henry Holloway VLADIMIR Putin is presiding over a “mafia” state where murder is a tool used to defeat his enemies and to scare his uneasy allies into keeping in line. Experts believe the deaths of at least 39 high profile figures – ranging from oligarchs to scientists and even generals – could show […]
Bank’s attempt to clawback former executive’s salary could set a Wall Street record Reported by Joshua Franklin and Stephen Gandel JPMorgan Chase is attempting to engineer what could be the biggest clawback of pay in Wall Street history by demanding that Jes Staley return more than $80mn for failing to fully disclose the extent of […]
Reported by Alex Wickham The UK government suspects Russian nationals have exploited lax checks by the companies register in attempts to launder war profits stolen from Ukraine, according to people familiar with the matter. British law enforcement agencies have identified large numbers of sham companies incorporated in the UK by nationals from a range of […]
By Ross Ibbetson For Dailymail.com21:50 10 Mar 2023, updated 22:52 10 Mar 2023 The CEO of Silicon Valley Bank sold $3.57m of stock in a pre-planned, automated sell-off two weeks before it collapsed – and the CFO ditched $575,000 the same day. Greg Becker sold 12,451 shares at an average price of $287.42 each on […]
Reported by: U.S. Department of Justice A former managing director of The Goldman Sachs Group Inc. (Goldman Sachs) was sentenced today to 10 years in prison for his role in a multibillion-dollar bribery and money laundering scheme involving Malaysia’s state-owned investment and development fund, 1Malaysia Development Berhad (1MDB). “Today, Roger Ng was sentenced for his […]
Reported by JOEL KHALILI When the US government announced sanctions against Tornado Cash last August, the warning seemed to be aimed at all crypto mixers. Alleging that Tornado Cash had been used to launder $7 billion in digital currency—including half a billion dollars tied to Lazarus, a hacking group sponsored by North Korea—the US Treasury’s Office […]
Reported by Reuters OSLO, March 8 (Reuters) – The ethics watchdog of Norway’s $1.3 trillion sovereign wealth fund said on Wednesday it is investigating whether three companies in which the fund has invested are involved in financial crime. The Council on Ethics for the Government Pension Fund Global in its annual report said two European […]
Reported by: Matthew Horwood Federal regulators yesterday fined a Toronto-based bank $676,500 for breach of regulations under the Proceeds Of Crime And Terrorist Financing Act. According to Blacklock’s Reporter, the penalty for Wealth One Bank of Canada was the steepest levied in two years. “We will be firm in ensuring businesses continue to do their part,” Sarah Paquet, […]
Financial Crime News Briefs 