Reported by The New Voice of Ukraine Ukraine’s SBU security service and the Economic Security Bureau of Ukraine (ESBU) have exposed the owners and top management of a Kyiv bank involved in large-scale money laundering by underground online casinos, the SBU reported on July 18. The perpetrators laundered almost UAH 5 billion ($136.7 million) since the beginning of […]
Reported by Frederick L. Block, Kelly L. Gibson, Susan D. Resley, Daniel B. Tehrani, Justin D. Weitz, Alyse (“Ali”) J. Rivett, and Michelle M. Arra The SEC filed four separate complaints in the US District Court for the Southern District of New York alleging insider trading by 13 defendants. Simultaneously, the US Attorney’s Office for […]
Reported by Lukas I. Alpert A European tax advisor to a global set of star DJs and supermodels has been arrested on charges that he created a network of illegal tax shelters to help his clients avoid paying U.S taxes on over $100 million of earnings. Frank Butselaar, 63, of the Netherlands, is accused of […]
Reported by Mirko Zorz, Director of Content, Help Net Security Google Cloud’s AML AI represents an advancement in the fight against money laundering. By replacing outdated transaction monitoring systems and embracing AI technology, financial institutions can now stay ahead of evolving financial crime risks, improve operational efficiency, ensure regulatory compliance, and deliver a superior customer experience. […]
Reported by HENRY POPE Brazilian federal authorities announced Friday an investigation into the laundering of more than R$80 million (US$16.4 million) of illegally mined gold through shell companies in the foodstuffs and medical supply industries. Brazilian federal authorities are investigating a Guyanese businessman suspected of laundering millions worth of gold through shell companies. (Photo: Ministério […]
Reported by Kenneth Corbin Government and industry regulators have fined Merrill Lynch $12 million over allegations that the firm failed for more than a decade to file the required Suspicious Activity Reports (SARs) flagging transactions that it knew or suspected were being used to support criminal activity. The Securities and Exchange Commission and brokerage industry […]
Reported by Julie Zhu and Jane Xu Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul of the fintech company and marking a key step to concluding a crackdown on the country’s internet sector. China’s central bank said that financial regulators would fine Ant […]
Reported by SEAN WOODS In late March 2020, Haywood Talcove, a CEO at LexisNexis Risk Solutions, was packing up his office, having sent his employees home. He was worrying about laying off his staff, his family’s health, and how he was going to manage two young kids at home during the pandemic. But when President […]
Reported by Matt Binder Is OpenAI responsible for what its popular AIchatbot, ChatGPT, says? A new lawsuit against the company filed by a Georgia-based radio host argues that the company is. Armed America Radio host Mark Walters filed against OpenAI for defamation earlier this week, marking the first such case in AI, according to Bloomberg. So, what happened? According […]
Reported by Jesus Jiménez In her role as an operations manager at an Amazon warehouse in Georgia, Kayricka Wortham had the authority to approve new vendors and their invoices. But during her time there, federal prosecutors said, she used that power in another endeavor: Running a scheme by which $9.4 million was stolen from the […]
Financial Crime News Briefs 