Reported by U.S. Department of the Treasury Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Ekaterina Zhdanova, a Russian national, for her role in laundering and moving funds using virtual currency on behalf of Russian elites. This action is consistent with the G7’s commitment to crack down on sanctions evasion and closing loopholes […]
FTX founder Sam Bankman-Fried was found guilty of fraud! This is his story in under 5 minutes. Watch video.
Reported by Howard W. Herndon Of Womble Bond Dickinson (US) LLP – News In the world of international finance and crime, criminals and terrorists have always sought innovative ways to launder money and avoid sanctions. One relatively recent method that has gained prominence is known as “sportswashing.” This term refers to the use of sports […]
Reported by Alex Dovbnya SafeMoon founders Braden John Karony, Kyle Nagy, and Thomas Smith have been arrested and charged with securities fraud, wire fraud, and money laundering. The charges stem from their alleged misuse of millions in investor funds for personal luxuries, according to a federal indictment that was unsealed earlier this Wednesday. Inside the fraud claims […]
Reported by Bloomberg Singapore’s luxury housing deals are drying up as one of the nation’s largest-ever money-laundering scandals weighs on the market. High-end bungalow sales are set for their worst year in nearly a decade with just eight sold as of the end of September, according to data compiled by Knight Frank. Realstar Premier Group Pte – […]
Reported by JOSH BOAK AND MATT O’BRIEN President Joe Biden on Monday signed an ambitious executive order on artificial intelligence that seeks to balance the needs of cutting-edge technology companies with national security and consumer rights, creating an early set of guardrails that could be fortified by legislation and global agreements. Before signing the order, Biden said AI […]
Reported by Alric Lindsay On October 27, 2023, following meetings of the Financial Action Task Force (FATF), the FATF Plenary announced that the Cayman Islands have now been removed from the list of jurisdictions under increased monitoring, otherwise known as the “grey list.” The FATF said it “congratulated” the Cayman Islands and other countries for […]
A must watch video on the international organized crime car theft ring that helps evade Sanctions. The video shows the cars that commonly get stolen, and the role of ports in Baltimore, Boston, and Montreal in shipping these cars to various international locations, including countries under Sanctions. Watch video: youtu.be/nlfVyk641GM
Reported by Scilla Alecci and Brenda Medina The United States has become a destination for the proceeds of environmental crimes, undermining global moves to stem illicit financial flows and combat the climate crisis, according to a new report by a prominent anti-corruption advocacy group. The report by the Financial Accountability and Corporate Transparency (FACT) Coalition, […]
Reported by Carter Pape In recent years, regulators have warmed to the idea of banks using artificial intelligence to comply with anti-money-laundering laws and related regulations for countering the financing of terrorism and preventing other financial crimes. Increasingly, banks have also used this same transaction monitoring technology to protect themselves from fraud. Using AI to monitor transactions […]
Financial Crime News Briefs 