Reported by Grace Schepis When President Biden signed the Anti-Money Laundering (AML) Whistleblower Improvement Act on December 29th, 2022, the Treasury Department had its work cut out for them. In the shadow of the highly successful Securities and Exchange (SEC) and Commodity Futures Trading Commissions (CFTC), the new program is expected to process money laundering, sanctions busting, and Bank Secrecy Act […]
Reported by The Associated Press Former Panamanian President Ricardo Martinelli was among some 20 people who went to trial Tuesday on money laundering charges as he tries to mount a political comeback ahead of next year’s national elections. The case, known locally as “New Business,” dates back to 2017 and concerns the purchase of a publishing […]
Reported by David Yaffe-Bellany and Matthew Goldstein (Summary of original article featured below) Federal prosecutors in Manhattan have amassed a vast and diverse array of evidence in the criminal case against Sam Bankman-Fried, the former cryptocurrency executive. The evidence includes computer code, millions of pages of emails, Slack messages, and a handwritten diary belonging to […]
Reported (Opinion) by Chris Grieco The anti-money-laundering bill sponsored by Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-KS) purports to close loopholes in the risk of cryptocurrencies being used for illicit activity that even the Biden administration agrees is small. But the ill-conceived bill is a useful harbinger for the crypto community of a coming […]
Reported by Ana Swanson and Niraj Chokshi Last August, Oleg Patsulya, a Russian citizen living near Miami, emailed a Russian airline that had been cut off from Western technology and materials with a tempting offer. He could help circumvent the global sanctions imposed on Rossiya Airlines after Russia’s invasion of Ukraine by shuffling the aircraft […]
Reported by Antonio Graceffo U.S. intelligence and defense services, as well as the Office of the Director of National Intelligence (ODNI) 2023 Threat Assessment recognize China and Russia as the two greatest threats to U.S. national security. The U.S. has more firepower than either of the two and is a member of the world’s most […]
Reported by Comply Advantage Cash-intensive facilities that utilize complex transaction chains often attract criminals looking to launder illicitly obtained funds. Casinos fall into this category, offering gamblers anonymity and the ability to transact large amounts of money at a rapid scale. While the market size of the casino and online gambling industry was forecast to […]
Reported by Adena Friedman (The writer is chair and chief executive of Nasdaq) Recent breakthroughs in artificial intelligence are rightly seen as a step-change in our technology economy. For the world of finance, much of the reaction has been focused on the risks from this rapid shift. Concerns have rightly been raised about the capacity of regulators […]
Reported by Jim Bronskill The Canadian Press Canada’s financial intelligence agency is warning that Russians subject to economic sanctions due to Moscow’s attack on Ukraine could try to evade them using shell companies, cryptocurrency and real-estate transactions. The Financial Transactions and Reports Analysis Centre also says in a new special bulletin that those seeking to launder the […]
Reported by JOSHUA GOODMAN Associated Press Writer A federal judge in Houston has dismissed criminal charges against a Swiss banker accused of helping stash millions in bribes paid to senior Venezuelan oil officials over long delays in bringing the case to trial. Judge Kenneth Hoyt ruled Wednesday that unjustified trial delays violated Paulo Murta’s constitutional […]
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