Reported by Ian Talley The U.S., Israel and more than a dozen allies created a task force on terror financing following Hamas’s Oct. 7 attack on Israel. Since then, they have used sanctions to target Hamas financiers, currency exchanges and corporate networks, as well as offering multimillion-dollar bounties for information on financial facilitators. But now, more […]
Reported by Sam Rucker Hamas’s international financial web is now “immune fromIsraeli shells”, experts believe – meaning Israeli Prime Minister Benjamin Netanyahu will struggle to achieve his goal of destroying the militant group. Stephen Reimer, an associate fellow at the Royal United Services Institute (Rus) specialising in financial crime, told i that “the total destruction of Hamas” would […]
Reported by Gretchen Morgenson Federal financial regulators are exploring allegations by two whistleblowers that Cash App, the popular mobile payment platform, and entities providing transaction services to its users performed inadequate due diligence on customers, potentially opening the door to money laundering, terrorism financing and other illegal activities. While banks are required to know the true […]
Reported by Olaf Storbeck Germany’s financial watchdog has threatened to fine Deutsche Bank after the lender failed to fix flaws in its anti-money laundering controls, in the latest setback for chief executive Christian Sewing. Sewing promised to put an end to Deutsche Bank’s long-running legacy of control shortcomings and misconduct scandals after becoming chief executive […]
Reported by Juan Manuel Cendoya In response to an article published in UK media on 4th February, Santander can say categorically that, after a thorough internal investigation, it has not found any direct nor indirect sanctions breach in any part of the group. We have distributed the following communication to our teams: As we informed […]
Reported by The U.S. Department of the Treasury The U.S. Department of the Treasury published the 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing. These reports highlight the most significant illicit finance threats, vulnerabilities, and risks facing the United States. The reports detail recent, significant updates to the U.S. anti-money laundering/counter-financing […]
Reported by MATTHEW KARNITSCHNIG A small Hamburg bank was at the center of a clandestine financial network Iran relied on for years to funnel money to its terror proxies in the Middle East, including Hezbollah in Lebanon and Yemen’s Houthi rebels, officials from two western intelligence agencies say. POLITICO can reveal that western intelligence flagged […]
Reported by U.S. Department of State The U.S. Department of State’s Rewards for Justice Program is offering a reward of up to $10 million for information leading to the disruption of financial mechanisms of the Foreign Terrorist Organization Hamas. Under this reward offer, the Department seeks information on Hamas financial facilitators Abdelbasit Hamza Elhassan Khair, […]
Reported by Tariq Tahir An accountant alleged to have acted as right-hand man to accused Hezbollah financier Nazem Ahmad has been extradited to the US. Sundar Nagarajan, 56, was arrested in London at the behest of the American authorities this year on suspicion of fraud and money-laundering offences. The Indian citizen was detained by the Met Police’s National Extradition […]
Reported by Jo Becker and Justin Scheck Israeli security officials scored a major intelligence coup in 2018: secret documents that laid out, in intricate detail, what amounted to a private equity fund that Hamas used to finance its operations. The ledgers, pilfered from the computer of a senior Hamas official, listed assets worth hundreds of […]
Financial Crime News Briefs 