Reported by FinCEN Red Flag Indicators Related to the Fundraising and Money Laundering Activities of Iran-Backed Terrorist Organizations FinCEN has identified the red flags listed below to assist financial institutions in detecting, preventing, and reporting suspicious activity connected to the financing of Iran-backed terrorist organizations. These red flags are in addition to the red flags […]
Reported by U.S. Attorney’s Office, Southern District of New York Damian Williams, the United States Attorney for the Southern District of New York; Lisa Monaco, the Deputy Attorney General of the United States; and Thomas Fattorusso, the Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (“IRS-CI”), […]
Reported by FinTech Global Encompass Corporation‘s recent research has uncovered alarming statistics regarding corporate treasurers’ dissatisfaction with banking applications. According to the study, a staggering 87 per cent of corporate treasurers have abandoned banking applications due to the lengthy and inefficient onboarding processes. Notably, this trend isn’t just affecting banks but also impacting businesses, with […]
Reported by Patrick Wintour Diplomatic editor Nearly 40% of the dirty money in the world is going through the City of London and other crown dependencies, the UK’s deputy foreign secretary has said. Andrew Mitchell added the crown dependencies and overseas territories will face fresh demands from the Foreign Office to comply with UK laws setting up public […]
Reported by Dylan Tokar U.S. regulators took another step on Monday toward bolstering anti-money-laundering safeguards with a proposal to require that certain investment advisers verify identities of their customers. The proposal, which would extend identification requirements that already exist for broker-dealers and mutual funds, was issued jointly by the U.S. Securities and Exchange Commission and […]
Reported by Howard Stutz By 2007, as casino expansion flourished across multiple states, the U.S. Department of Treasury stepped up its scrutiny of large financial transactions at casinos. Nevada gaming overseers decided a change was needed in the state’s regulatory structure and removed Regulation 6A, which covered currency reporting requirements by casinos. It essentially led to […]
Reported by U.S. Attorney’s Office, Southern District of New Damian Williams, the United States Attorney for the Southern District of New York, and Ivan J. Arvelo, the Special Agent in Charge of the New York Field Office of Homeland Security Investigations (“HSI”), announced today the unsealing of two Complaints charging flight attendants CHARLIE HERNANDEZ, SARAH […]
Reported by Connor Jones The World-Check database used by businesses to verify the trustworthiness of users has fallen into the hands of cybercriminals. The Register was contacted by a member of the GhostR group on Thursday, claiming responsibility for the theft. The authenticity of the claims was later verified by a spokesperson for the London Stock […]
Reported by Business Desk Hong Kong’s securities regulator has initiated insider dealing proceedings against Segantii Capital Management, a leading hedge fund in Asia, along with its founder, Simon Sadler, and former trader, Daniel La Rocca. The charges stem from alleged insider trading in the shares of a Hong Kong-listed company prior to a block trade […]
Reported by Erica Hanichak & Zorka Milin As U.S. Treasury Secretary Janet Yellen said last year, “Unmasking shell corporations is the single most significant thing we can do to make our financial system inhospitable to corrupt actors.” Illicit shell networks span states and continents, threatening American public safety and national security. There is evidence that these networks foster cross-continental fentanyl […]
Financial Crime News Briefs 