Reported by Margot Patrick bc They looked like ordinary tourists with very big bags. But like a network of ants, they carried off tens of millions of dollars in cash from London to Dubai. British crime fighters cracked a money-laundering network that they say moved more than £100 million, equivalent to $125 million. A London […]
Reported by Katherine Doherty and Edward Ludlow Nasdaq Inc. is throwing its weight behind technology that protects against financial crime as the demand to stop sophisticated, bad actors rises, according to Chief Executive Officer Adena Friedman. “We are investing in the technology in a very significant way,” Friedman said Wednesday at the Consumer Technology Associationconference in Las […]
Reported by Jim Wyss In the tropical paradise of Saint Kitts and Nevis, it isn’t the visitors to its golden shores and pristine beaches who sustain the economy. It’s those buying its navy blue passports. For as little as $100,000,foreigners can secure citizenship in certain Caribbean nations that promise tax breaks and visa-free travel to Europe. In […]
Reported by Bloomberg News Last year, the US sanctioned dozens of companies that produce drilling equipment and develop new production techniques, aiming “to limit Russia’s future extractive capabilities.” The European Union in 2022 imposed “comprehensive exports restriction on equipment, technology and services for the energy industry in Russia.” Two of the world’s largest oil-service providers — Halliburton Co. and Baker Hughes […]
Reported by Adam Schrader A law enacted in 2021 to combat money laundering, tax fraud, and corruption went into effect on January 1, 2024, posing a legal risk for artists who do not comply, experts are warning. Hannah Cole, a tax professional and artist herself, penned an op-ed in Hyperallergic on Tuesday, revealing that Corporate Transparency Act […]
Reported by David Leask America has imposed sanctions on three Scottish shell firms it believes are being used to aid Russia’s war effort. United States authorities formally listed the Edinburgh-registered limited partnerships or SLPs earlier this year. They did so as part of a crackdown on a Swiss financier who they – and the British […]
Reported by U.S. Department of State The U.S. Department of State’s Rewards for Justice Program is offering a reward of up to $10 million for information leading to the disruption of financial mechanisms of the Foreign Terrorist Organization Hamas. Under this reward offer, the Department seeks information on Hamas financial facilitators Abdelbasit Hamza Elhassan Khair, […]
Reported by CHRIS MORRIS The Washington Consumer Protection Coalition, a consumer action group, is accusing Starbucks of exploiting customers via its gift card and app payments, forcing them to enter a spending cycle where they will never be able to fully spend the remaining balance of prepaid amounts. “Starbucks rigs its payment platform so consumers […]
Reported by MARTÍN ADAMES ALCÁNTARA Dominican prosecutors on Wednesday accused Wander Franco of commercial sexual exploitation and money laundering following allegations that the Tampa Bay Rays shortstop had a relationship with a minor whose mother also faces the same charges. Prosecutors requested that a judge hold Franco on an $86,000 bond, bar him from leaving […]
Reported by The Economist Brazilians have long been early adopters of fintech. In 2017, EY, an accounting firm, found that two-fifths of Brazilians regularly used online banking, one of the highest rates worldwide. In 2020 44% of customers had a digital-only account, compared with less than 20% in the United States and Canada, according to […]
Financial Crime News Briefs 