Reported by: JIM MUSTIAN and JOSHUA GOODMAN José Irizarry accepts that he’s known as the most corrupt agent in U.S. Drug Enforcement Administration history, admitting he “became another man” in conspiring with Colombian cartels to build a lavish lifestyle of expensive sports cars, Tiffany jewels and paramours around the world. But as he used his […]
Reported by: U.S. Attorney’s Office, Eastern District of Texas According to court documents unsealed today, 21 individuals have been charged for their roles in transnational money laundering networks, including those that laundered millions of dollars stolen from United States fraud victims through romance scams, business email compromises, technical support schemes, and other fraud schemes. U.S. […]
Reported by: JUSTYNA GUDZOWSKA and JONATHAN M. WINER International standards have evolved to include legal professionals among those required to help prevent and report cases of money laundering. But loopholes in US anti-money laundering laws continue to exempt many gatekeepers in the financial system. This includes certain lawyers and accountants, as well as company agents […]
Reported by: Chris Cumming Congress is considering a vast expansion of anti-money-laundering rules to private-equity firms and other businesses in an effort to stamp out dirty money in the financial system, people who work with lawmakers said. A bipartisan group of senators is weighing whether to include in the annual defense appropriations bill the so-called […]
Reported by: JOSHUA GOODMAN For years, as the U.S. has ramped up pressure on Venezuela’s socialist government, dozens of allegedly corrupt insiders have raced through the U.S. criminal justice system, cutting plea bargains to avoid lengthy prison sentences and sparing prosecutors the work of having to prove their cases in court. But not Claudia Díaz. […]
Reported by: Turner Wright A blockchain firm that partnered with the Ukrainian government to launch a donation website amid the country’s war with Russia has pushed back against online rumors and conspiracy theories that its platform was used for politically motivated money laundering. Ukrainian government officials partnered with Everstake, Kuna and the now infamous crypto […]
Reported by: Reuters Denmark’s financial watchdog has reported lender Jyske Bank (JYSK.CO) to the police for possible breach of anti-money laundering legislation, it said on Monday. The Financial Supervisory Authority (FSA) said in a statement it among other things had found “significant shortcomings” in the bank’s customer due diligence measures. Read full report: https://www.reuters.com/markets/europe/danish-fsa-reports-jyske-bank-police-possible-breach-anti-money-laundering-act-2022-11-28/
Reported by: Richard Vanderford A U.S. unit of South Korea’s Shinhan Financial Group has agreed to bolster the oversight of its anti-money-laundering program as part of a settlement with the Federal Deposit Insurance Corp. Shinhan Bank America, which operates bank branches in the U.S., agreed to ensure that its AML program was sufficiently capable of combating the […]
Reported by: Laura Noonan Clouds are gathering over swaths of fintech companies, as falling economic growth, rising interest rates and a cost of living crisis put their business models under strain, forcing job cuts and valuation-crushing funding rounds. ComplyAdvantage founder Charlie Delingpole knows his company is not immune to those forces, as fintechs are among […]
Reported by: Clancy Yeates Dutch bank ING has vowed to fix its anti-money laundering and counter-terrorism financing systems, after an investigation by financial crimes regulator Austrac found flaws in the lender’s compliance. Austrac on Thursday said it accepted a court-enforceable undertaking from ING’s Australian business, with ING promising to beef up its reporting of suspicious […]
Financial Crime News Briefs 