Reported by: Graeme Wood, Glacier Media B.C. real estate brokerage firm LeHomes Realty has been fined $282,397 for not complying with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The brokerage is officially known as Pan Pacific Platinum Real Estate Services Inc. and formerly known as New Coast Realty, which has a history […]
Reported by: MarketScreener There has been a sharp increase in those over the age of 40 caught channelling fraudulent funds through their bank account over the last year, according to new data from Lloyds Bank. Known commonly as ‘money mules’, these people use their bank account to receive criminal cash, either intentionally or unintentionally. How […]
Reported by: Jonathan Browning Sigma Broking Ltd. was fined £530,000 ($596,830) for a series of reporting failures, the Financial Conduct Authority said Thursday. The regulator, which has recently prioritized cases of market abuse, said managers acted negligently while compliance and oversight was “unclear and confused.” The privately-owned brokerage missed 97 suspicious transactions or orders that […]
Reported by: TAYLOR LOCKE Criminals have increasingly used decentralized exchanges (DEXs), cross-chain bridges, and coin-swap services for money laundering, a new report by blockchain analysis firm Elliptic shows. Though use of each typically is “overwhelmingly legitimate,” criminals so far have laundered over $4 billion in illicit crypto through the three services since 2020. “This expansion […]
Reported by: Bridget Diakun RUSSIA’s outbound seaborne trade remains stable despite successive waves of sanctions levelled against Moscow by the European Union, US and UK. According to Lloyd’s List Intelligence data there were approximately 2,064 vessel departures from Russia to foreign ports in August compared with 2,109 in July. While outbound sailings dropped 10% in response to […]
Reported by: Steve Kaaru Digitex started operations in April 2020 after months of running its beta under which users could only purchase its native DGTX tokens. Just before it launched, it was hit by a data breach in which sensitive data for over 8,000 users was stolen and some of it leaked. Following the breach, […]
Reported by: Reuters Former Swedbank (SWEDa.ST) Chief Executive Birgitte Bonnesen on Tuesday went on trial in Sweden, charged with fraud over her handling of the lender’s anti-money laundering protocols in Estonia. Bonnesen, who was Swedbank’s CEO from 2016 to 2019, is accused by the prosecution of giving misleading information on several occasions with the intent to cover […]
Reported by: Arjun Kharpal Pro-Russian groups are raising funds in cryptocurrency to prop up paramilitary operations and evade U.S. sanctions as the war with Ukraine wages on, a research report published Monday revealed. As of Sept. 22, these fundraising groups had raised $400,000 in cryptocurrency since the start of the invasion on Feb. 24, according […]
Reported by: U.S. Department of Justice The Agreement between the Government of the United States of America and the Government of the United Kingdom of Great Britain and Northern Ireland on Access to Electronic Data for the Purpose of Countering Serious Crime (“Data Access Agreement” or “Agreement”) entered into force today. The Agreement is authorized […]
Reported by: Danny Nelson Kim Kardashian’s $1.26 million regulatory fine this week for improperly touting a cryptocurrency raises many questions, but a big one is this: what the heck is EthereumMax (EMAX), the token she shilled? Though the name begins with Ethereum, it’s not the second-largest cryptocurrency, but rather a token built on top of […]
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