Author: FinCrime

I don’t write the articles here. I just share what I read to like minded professionals and enthusiasts. Copyright is owned by the authors and/or publishers.
Written by FinCrime

Pump-and-Dumpers Take Their Lumps: Influencer Liability Catches the Eye of Federal Regulators

Reported by: Eric Ball, Kimberly Culp Brands and influencers alike should proceed with caution as regulators continue to scrutinize how influencers market information to their followers and how brands deploy influencer marketing. Recent enforcement actions have made one thing clear: disclose, disclose, disclose. On December 14, 2022, the SEC announced charges against eight individuals for their roles […]

Written by FinCrime

Ex-NYU finance director charged with embezzling millions

Reported by: Carmo Moniz and Tori Morales Cindy Tappe, NYU’s former director of finance and research, is facing multiple felony charges after she was found to have redirected millions of dollars in New York state education grants to shell companies over the span of six years. Tappe, who left NYU in 2018 after the university […]

Written by FinCrime

FATF Publishes New Report on Money Laundering from Fentanyl and Synthetic Opioid

Reported by: ComplyAdvantage On November 30, 2022, the Financial Action Task Force (FATF) issued its inaugural report on money laundering from fentanyl and synthetic opioids. Co-led by the US and Canada, the report includes recommendations for prosecutors and law enforcement authorities on countering financial flows from the illicit drug trade. According to the report, criminal […]

Written by FinCrime

Russia’s VTB bank defies US sanction on Iran with cross-border Iranian rials transfers

Reported by: bne IntelIiNews VTB, the Kremlin’s second-largest bank, has announced it will launch cross-border bank transfers in Iranian rials, in direct contravention of US sanctions, Kommersantnewspaper reported on December 19. Retail and commercial account holders of VTB will be able to transfer amounts of up to $300,000 (RUB20mn) in an equivalent rial (IRR) amounts. According to the […]

Written by FinCrime

International Drug Conspiracy Used Binance To Launder Millions, DEA Investigation Finds

Reported by: Thomas Brewster A methamphetamine and cocaine gang operating across the U.S., Mexico, Europe and Australia used the world’s biggest cryptocurrency exchange Binance to launder tens of millions in drug proceeds, according to an ongoing investigation by the US Drug Enforcement Administration. Between $15 and $40 million in illicit proceeds may have been funneled […]

Written by FinCrime

Are Donald Trump’s NFT trading cards all just a money laundering scheme? One TikTok theory seems to think so

Reported by: Stacey Ritzen Despite widespread mockery of the internet and disdain from his own supporters, Donald Trump supposedly sold out of his heavily-maligned NFT digital trading cards in just 12 hours. But could the 45th president be laughing all the way to the bank — or more accurately, offshore bank accounts? That’s what one TikTok user is […]