Reported by: Erik Larson The former tech entrepreneur, “Razzlekhan” rapper and accused cryptocurrency thief Heather Morgan has a new job. Morgan, who dubbed herself on social media and in music videos as “The Crocodile of Wall Street,” was hired by an unspecified technology company even though she’s under 24-hour house arrest, according to a court […]
Reported by: Mengqi Sun Deutsche Bank AG tapped a veteran of BarclaysPLC and American Express Co. to be its new chief compliance officer and reshuffled other positions as the German lender works to revamp its compliance programs in the wake of several regulatory investigations in recent years over its business conduct and compliance controls. Laura […]
Reported by: Tom Parfitt A Russian billionaire under investigation in Switzerland helped to finance the Tom Cruise blockbuster Top Gun: Maverick, a US lawsuit has revealed. Dmitry Rybolovlev is said to have exercised “functional control” over a production company that signed a $200 million deal in 2020 with the Hollywood giant Paramount Pictures to fund up […]
Reported by: Lachlan Keller The U.S. House of Representatives has created a new congressional subcommittee focused on digital assets, as one of its first moves under the control of the Republican Party, Congressman Patrick McHenry said on Thursday. Fast facts Read full report: https://finance.yahoo.com/news/u-house-representatives-forms-cryptocurrency-041323722.html
Reported by Sharyn Alfonsi After Russia launched its invasion of Ukraine, the U.S. and its allies responded with sanctions targeting companies, oligarchs and officials with ties to Russian President Vladimir Putin. Headlines trumpeted the trophies of Russian oligarchs seized throughout Europe – yachts in Italy, villas in the south of France and priceless art in […]
Reported by HENRY POPE Al Rayan Bank and Guaranty Trust Bank(GTBank) were fined four million pounds (US$4.9 million) and 7.6 million pounds ($9.3 million), respectively, for failing to vet their customers’ transactions for signs of money laundering activity and for failing to train their staff on how to properly conduct enhanced customer due diligence (EDD) […]
Reported by: GRAHAM KATES Two Trump Organization companies were ordered to pay a $1.6 million fine at sentencing Friday, after a jury last month unanimously found them guilty of 17 counts related to tax fraud. The fine imposed by Judge Juan Merchan was the maximum penalty allowed in the case — double the amount of the […]
Reported by: Mat Di Salvo Funds are flowing out of crypto lender Nexo following news that prosecutors in Bulgaria are investigating the company for fraud, according to blockchain analytics firms. Nexo is a British digital asset platform that loans out client funds and uses the proceeds to pay interest. (Disclosure: Nexo is one of Decrypt’s 22 investors.) […]
Reported by: Mengqi Sun The Treasury Department’s anti-money-laundering whistleblower program, which was established in 2021 but has been viewed as lacking teeth, got a shakeup in the recent omnibus spending bill that lawyers predict will result in more whistleblower cases. The legislation, which President Biden signed into law in late December, contains major changes to the Treasury […]
Reported by: FINRA FINRA published today its 2023 Report on FINRA’s Examination and Risk Monitoring Program to provide member firms with key insights and observations to use in strengthening their compliance programs. New Topics Covered in the Report: Additionally, the report introduces a newFinancial Crimes section, consisting of three topics — Cybersecurity and Technological Governance; […]
Financial Crime News Briefs 