Reported by Ana Swanson and Matina Stevis-Gridneff Late last month, American and European Union officials traded information on millions of dollars’ worth of banned technology that was slipping through the cracks of their defenses and into Russian territory. Senior tax and trade officials noted a surge in chips and other electronic components being sold to Russia through […]
Reported by the ASSOCIATED PRESS A Fugees rapper on trial in a multimillion-dollar campaign finance and foreign influence case was trying to reinvent himself as he entered the political arena, not break any laws, defense attorneys said Monday. Prakazrel “Pras” Michel became a best-selling, Grammy-winning artist with the 1990s hip-hop group the Fugees, but in […]
Reported by Reuters Estonia’s state prosecutor said on Monday she had charged six people with laundering at least $1.6 billion and 6 million euros ($6.58 million) at the now-defunct Estonian office of Danske Bank, Denmark’s largest lender. The operations in Estonia became the focus of a massive money laundering scandal after it was discovered some […]
Reported by Dave Michaels and Mengqi Sun Bittrex Inc. once ranked as the country’s biggest platform for trading digital assets. Its rocky history at home is coming to an end with a regulatory threat and a decision to leave the U.S. for good. The Securities and Exchange Commission’s enforcement staff told Bittrex in March it […]
Reported by Michael Stott Panama expects to be removed soon from a “grey list” of countries that are not doing enough to combat money laundering, following years of pressure to clean up its financial system in the wake of the Panama Papers scandal. President Laurentino Cortizo told the Financial Times that the Central American nation […]
Reported by Nate Sibley of Hudson Institute How Cartels Launder Money Now Fake pills containing fentanyl. Photo Credit: DEA For decades, cartels laundered money primarily by smuggling bulk cash across the border or using the Black Market Peso Exchange. The latter involved using drug profits to purchase goods in the United States, shipping them across the border, […]
Reported by BEN WEISS Nikhil Wahi, a 27-year-old crypto trader whose brother worked for Coinbase, has agreed to pay $469,525.50 to the publicly traded cryptocurrency exchange for his role in an insider-trading scheme. The court filing, which was signed April 6, was made public Monday. In September, Wahi agreed to a plea deal with the Department […]
Reported by Kaley Schafer of Ballard Spahr LLP On March 30, 3023, the Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis focusing on business email compromise (BEC) trends and patterns in the real estate sector (referred to as “RE BEC”). The report is required under Section 6206 of the Anti-Money Laundering Act of 2020 (AMLA). This section […]
Reported by EURACTIV.com with AFP File photo. External view of the offices of Swiss medicine maker Novartis in Athens, Greece, 4 January 2017. [Alexandros Vlachos/EPA] Switzerland has matched the 10 rounds of ever-tightening sanctions imposed by the European Union since the Russian invasion of Ukraine in February 2022. Though Swiss trade with Russia has come […]
Reported by Colin Moynihan In the summer of 2020, Niloufar Bahadorifar, an expatriate Iranian in California, received a message from someone in her home country asking her to send money to the PayPal account of a person in Manhattan. Ms. Bahadorifar passed along $670 and forwarded proof of the transaction to Iran. The payment may […]
Financial Crime News Briefs 