Reported by FinCEN In light of a December 23, 2024, federal Court of Appeals decision, reporting companies, except as indicated below, are once again required to file beneficial ownership information with FinCEN. However, because the Department of the Treasury recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction […]

Reported by Lars Bové (De Tijd), Yanina Korniienko (Slidstvo), Elena Loginova (OCCRP), Mašenjka Bačić (Oštro) (Summary version featured below) Belgian authorities have launched a money laundering investigation involving Iryna Kut, a Ukrainian businesswoman and owner of the diamond company IKG, based in Antwerp. As part of the probe, approximately $2 million has been seized. Concurrently, […]

Reported by Anisah Shukry and Nurin Sofia Rosmah Mansor, the wife of Malaysia’s former Prime Minister Najib Razak, was granted a full acquittal in her money-laundering and tax evasion case, in the latest legal victory for individuals linked to one of the country’s ruling parties. Malaysia’s High Court allowed Rosmah’s application to strike out all 17 charges she faced […]

Reported by Teresa Moss A year extension to the filing deadline for the Corporate Transparency Act (CTA) is buried in the text of a congressional continuing resolution to fund the government proposed by the U.S. House of Representatives. An injunction, issued by the U.S. District Court for the Eastern District of Texas earlier this month, already halts […]

Reported by David Danzis Las Vegas casinos, with their massive cash flows, are prime targets for money laundering schemes. Despite strict Federal authorities and state regulations, recent incidents involving major casino operators like MGM Resorts, Wynn Resorts, and Resorts World Las Vegas have highlighted failures in anti-money laundering (AML) compliance. These cases have amplified scrutiny […]

Reported by Mae Anderson Small business owners should not forget about a rule — currently in legal limbo — that would require them to register with an agency called the Financial Crimes Enforcement Network, or FinCEN, by Jan. 1. The registration is part of the Corporate Transparency Act, an anti-money laundering statue passed in 2021. […]

Reported by David G.W. Birch In the past, bank robberies were straightforward crimes where thieves stole money, which belonged to the banks, not individuals. However, modern criminals now target personal data, which is far more valuable and has wide-reaching consequences. Financial institutions hold vast amounts of personal information, and the theft of this data, as […]

Reported by Erica Kollmann SEC Charges Cantor Fitzgerald With Causing 2 SPACs To Make Misleading Statements The Securities and Exchange Commission on Thursday charged  financial services firm Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies that it controlled to make misleading statements to investors ahead of their initial public offerings.  The SEC’s Order states that a team […]

Reported by CBS News A U.N. envoy on Sunday called for a quick end to Western sanctions against Syria as the country’s new leaders and regional and global powers begin to chart a path forward following the fall of President Bashar Assad. The Syrian government has been under strict sanctions by the United States, the European Union and […]

Reported by Insider Rob Holmes is a private investigator. He works with major luxury-watch brands to track down fakes and stop them from getting to market. Holmes speaks with Business Insider about how counterfeits are made in factories overseas. He gives details about how fake luxury goods are trafficked into the United States and distributed […]