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

Operation Crypto Runner: Eastern District of Texas Announces Multi-Year Investigation into Transnational Cryptocurrency Money Laundering Networks

Reported by: U.S. Attorney’s Office, Eastern District of Texas According to court documents unsealed today, 21 individuals have been charged for their roles in transnational money laundering networks, including those that laundered millions of dollars stolen from United States fraud victims through romance scams, business email compromises, technical support schemes, and other fraud schemes. U.S. […]

Written by FinCrime

Lawyers Should Be Key Reporters in Anti-Money Laundering Efforts

Reported by: JUSTYNA GUDZOWSKA and JONATHAN M. WINER International standards have evolved to include legal professionals among those required to help prevent and report cases of money laundering. But loopholes in US anti-money laundering laws continue to exempt many gatekeepers in the financial system. This includes certain lawyers and accountants, as well as company agents […]

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Senate Weighs Expansion of Money-Laundering Rules

Reported by: Chris Cumming Congress is considering a vast expansion of anti-money-laundering rules to private-equity firms and other businesses in an effort to stamp out dirty money in the financial system, people who work with lawmakers said. A bipartisan group of senators is weighing whether to include in the annual defense appropriations bill the so-called […]

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Bribery trial tests US cases against Venezuela kleptocrats

Reported by: JOSHUA GOODMAN  For years, as the U.S. has ramped up pressure on Venezuela’s socialist government, dozens of allegedly corrupt insiders have raced through the U.S. criminal justice system, cutting plea bargains to avoid lengthy prison sentences and sparing prosecutors the work of having to prove their cases in court. But not Claudia Díaz. […]

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Ukraine-based blockchain firm blasts ‘fake news’ for crypto donation rumors amid FTX collapse

Reported by: Turner Wright A blockchain firm that partnered with the Ukrainian government to launch a donation website amid the country’s war with Russia has pushed back against online rumors and conspiracy theories that its platform was used for politically motivated money laundering.  Ukrainian government officials partnered with Everstake, Kuna and the now infamous crypto […]

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Danish FSA reports Jyske Bank to police for possible breach of anti-money laundering act

Reported by: Reuters Denmark’s financial watchdog has reported lender Jyske Bank (JYSK.CO) to the police for possible breach of anti-money laundering legislation, it said on Monday. The Financial Supervisory Authority (FSA) said in a statement it among other things had found “significant shortcomings” in the bank’s customer due diligence measures. Read full report: https://www.reuters.com/markets/europe/danish-fsa-reports-jyske-bank-police-possible-breach-anti-money-laundering-act-2022-11-28/

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SEC Under Gensler: Crypto Power Grab or Effective Protection?

Reported by: SEBASTIAN SINCLAIR&DAVID CANELLIS The US Securities and Exchange Commission (SEC) has long been a thorn in the side of the crypto ecosystem — and chairman Gary Gensler represents the very tip. Gensler’s SEC has been more prolific in its crypto cases this year. In January, Gensler directed staff to figure out how to get “these […]

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Chevron to resume Venezuela oil production as US eases sanctions

Reported by: Joe Parkin Daniels in Bogotá and Felicia Schwartz in Washington The US on Saturday authorised Chevron to resume oil production through its joint ventures in Venezuela, after the socialist government in Caracas and the opposition resumed political talks in Mexico City. On Saturday, representatives of the Venezuelan government and the opposition returned to political negotiations in […]

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Blockchain may have a green future regardless of crypto

Reported by: Gillian Tett This month might not seem the perfect moment for an institution such as Goldman Sachs to be championing the benefits of “blockchain” or “tokenisation”. After all, these buzz words first shot to fame in the cryptocurrency sector, which has lost two-thirds of its value during the past year. And the recent implosion […]