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Anti-Money Laundering & Compliance News
The collapse of cryptocurrency exchange FTX has pulled a host of other companies down with it and threatens the stability of the digital coin marketplace, but some lawmakers on Capitol Hill are holding on to their crypto investments – even as they call for tighter regulations.
The U.S. Attorney’s Office for the Eastern District of Texas announced on Wednesday that it has charged 21 people in a transnational crypto money-laundering network that washed millions in funds scammed from thousands of U.S. victims.
A congressional subcommittee issued its final report Thursday about financial fraud supercharged by online lending during the pandemic, which alleged executives and their families enriched themselves through government relief programs.
U.S. prosecutors on Thursday asked a judge to dismiss bank fraud and other charges against Meng Wanzhou, the chief financial officer of China’s Huawei Technologies whose 2018 arrest strained relations between the U.S. and China.
Matthew Onofrio claimed he’d cracked the code on commercial real estate, but is accused of fleecing inexperienced investors and banks.
A Wisconsin man has been indicted for orchestrating a $35 million bank fraud scheme, announced U.S. Attorney Andrew M. Luger.
Bottomline Technologies, a leading provider of financial technology that makes business payments and financial messaging simple, smart and secure, is pleased to report that it won, for the second year running, the Invisible Security category at one of the industry’s leading financial technology award ceremonies in London last night.
Federal prosecutors have charged a former Cook County Land Bank Authority employee with fraud in a scheme to buy property at a discount and then resell it through straw buyers only to collect the proceeds of the sales.
Hong Kong cryptocurrency exchange Atom Asset Exchange (AAX), which ceased withdrawals this month and closed its social media accounts, has been hit by losses from affiliated trading unit 10kM Trading, according to a former employee familiar with the matter, at a time when markets are reeling over FTX’s global collapse due to losses at Alameda Research.
With their latest move, emerging economies such as Brazil and India are getting closer to crypto. While Brazil legalized cryptocurrency as a payment method, India is launching the retail version of its digital currency on a test basis.
An INTERPOL police operation to tackle online fraud has seen almost 1000 suspects arrested and the seizure of USD 129,975,440 worth of virtual assets.
Bitfront, a crypto exchange backed by Japanese social media app Line, is shutting down after failing to overcome turmoil in the industry.
Crypto has had a tumultuous year, to say the least. And even its bullish investors are admitting it.
Argentina is preparing to revamp its anti-money laundering and terrorism financing law. It has proposed to include the creation of a registry for virtual asset services providers (VASPs) in the country as part of the new modifications
Two Florida men associated with the so-called Felony Lane Gang each face up to 30 years in prison and $1 million in fines after both recently pleaded guilty to committing bank fraud in southern Maine, according to local police and the Maine U.S. Attorney’s Office.
The virtual assets sector has been identified as an emerging money laundering threat in Guyana by the Anti-Money Laundering and Countering the Financing of Terrorism National Coordination Committee in the second National Risk Assessment (NRA).
Crypto leaders aren’t the only ones feeling the blow of the cratering market and the downfall of FTX – so too are the Miami club owners who profited from regularly hosting some of the industry’s top spenders.
Elon Musk has not made any public comments regarding a bizarre $600,000 monument of him as a goat, which was delivered to the Tesla headquarters on the weekend.
Crypto prices dropped amid continued market contagion triggered by the FTX collapse earlier this month.
A federal jury convicted Russell Laffitte, the former CEO of Palmetto State Bank whom prosecutors accused of conspiring with Lowcountry attorney Alex Murdaugh on all six charges Tuesday night.
Think Washington lawmakers have what it takes to tackle the volatile world of cryptocurrencies? Neither do they.
In the face of a risk assessment that gold smuggling is one of the highest money laundering threats in Guyana, Attorney General Anil Nandlall SC says that the government plans to take measures to crack down on the crime and to boost prosecutions.
Kaohsiung police last week busted a money laundering operation suspected of seeking to interfere in tomorrow’s local elections.
A major money laundering organization that is believed to have supported some of Canada’s most prominent crime organizations has been dismantled.
Online scams such as banking and credit card fraud are the most prevalent cyberthreat, says Interpol
The FTX collapse that is ballooning into arguably the biggest financial story of 2022 is worsening for Tom Brady, Steph Curry and other major endorsers of the now-bankrupt cryptocurrency platform.
Pertsev, a Russian national living in the Netherlands, has been accused of facilitating money laundering by developing the now sanctioned app
The Enforcement Directorate (ED) on Wednesday opposed Karnataka Congress president D K Shivakumar plea challenging a money laundering probe against him.
In a decision published today, the Court of Justice of the European Union (CJEU) invalidated a provision of the 5th EU Anti-Money Laundering Directive that guaranteed public access to information on companies’ real owners.
Andriy Pavelko served with papers by police after investigation that football body blames on pro-Russian forces
Rockstar follows similar recent ban by Mojang and Minecraft.
Yet another cautionary tale of diving into crypto investment opps
A Somerset County, New Jersey, man admitted fraudulently obtaining over $850,000 in federal Paycheck Protection Program (PPP) loans U.S. Attorney Philip R. Sellinger, announced today.
The holiday weeks mean fewer days in the office -online or onsite. Staffers embark on their usual round-robins of vacation. We’re all browsing sites and stores in search of the best deals on, well … everything.
Reality TV stars Todd and Julie Chrisley were sentenced Monday to lengthy prison terms after being convicted earlier this year on charges including bank fraud and tax evasion.
Police in Estonia have arrested two men accused in a $575 million cryptocurrency fraud, U.S. authorities in Seattle said Monday.
Hackers who stole around $477 million worth of cryptocurrency from collapsed exchange FTX have started to launder the funds into bitcoin.
The HashFlare founders have been charged for their alleged involvement in a crypto fraud and money laundering conspiracy.
An unprecedent wave of fraud is engulfing the United Kingdom.
Reality TV stars Todd and Julie Chrisley have been sentenced to lengthy prison terms after being convicted earlier this year on charges including bank fraud and tax evasion
Cryptocurrency exchange FTX owes its 50 largest creditors almost $3.1bn (£2.6bn), according to a court filing.
The widening fallout from FTX has impacted the cryptocurrency market. Apex crypto Bitcoin (CRYPTO: BTC) was trading below the $17,000 mark on Sunday.
The Addiction Science Center at East Tennessee State University received the Advocate of Peer Recovery Service-Agency Award from the Tennessee Certified Peer Recovery Specialist Program of the state Department of Mental Health and Substance Abuse Services.
In the latest changes to the European Union’s (EU) anti-money laundering (AML) framework, the European Commission (EC) is finalizing the details of a package of proposals to strengthen the block’s ability to counter financial crime.
The STF estimates the money made by the accused through illegal means at ?80.78 crore
The New South Wales Crime Commission has reported that billions of dollars of ‘dirty’ money is being funnelled through poker machines in pubs and clubs across the state.
“The Lucky Laundry,” a new book from international financial crime expert Nathan Lynch, opens with the murder of a Vietnamese money launderer in Sydney and ends with an impromptu party on a Saigon street.
Another person has been arrested for allegedly helping move drug profits for an organization that brought meth and opioids to Waterloo.
The Directorate of Enforcement (ED) has arrested the managing director of Injaz International, Misbahuddin S alias Misbauddin S Mukarram under the Prevention of Money Laundering Act (PMLA), 2002.
After major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout.
The fallen crypto CEO on what went wrong, why he did what he did, and what lies he told along the way.
Two Pharmacy Owners Plead Guilty in COVID-19 Money Laundering and Health Care Fraud Case
The U.K.’s Law Commission is looking at how Decentralized Autonomous Organizations (DAOs) should be treated under the legal system, the latest in a series of forays into digital technologies by the influential body.
The former chief executive of an Austrian bank who faces charges in the United States in relation to a bribery and money laundering conspiracy involving Brazilian construction company Odebrecht asked a London court on Wednesday to refuse to extradite him.
Banks and other lenders, impacted by severe economic conditions, are looking to serve a population struggling through the cost-of-living crisis by further extending their products and services.
95% of them suffered new types of fraud as a result of the disruption caused by Covid-19
The new law has established the Office of the Director of the Economic & Financial Crime Bureau (EFCB), the States said.
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 sportscars, Tiffany jewels and paramours around the world.
Alex Bornyakov, deputy minister of digital transformation of Ukraine, took to Twitter Monday night to officially deny a conspiracy theory around the country’s crypto fundraising effort.
As the crypto universe reckons with the fallout of FTX’s rapid collapse last week and tries to figure out where the contagion may head next, questions have been swirling around, a rival exchange that’s taken a similarly flashy approach to marketing and celebrity endorsements.
Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Read this and more market news on the go with Yahoo Finance App.
Anti-money laundering and countering terrorism financing (AML/CFT) standards in Latin America and the Caribbean have not kept pace with emerging technologies and asset classes, according to new research by Global Financial Integrity (GFI).
The recently crashed FTX exchange sent ripples across the crypto market, threatening far-reaching repercussions.
U.S. Attorney Duane A. Evans announced that a grand jury returned a superseding indictment on November 4, 2022 against GLENN E. DIAZ, age 71, of Arabi; PETER J. “PETE” JENEVEIN, age 57, of Panama City, Florida; and MARK S. GRELLE, age 67, of Chalmette, for bank fraud and money laundering charges related to defrauding First NBC Bank, the New Orleans-based bank that failed in April 2017.
-Arion Bank has announced it will implement Lucinity’s technology to help strengthen its defenses against money laundering and contribute to a safer financial system.
When I spoke with Sam Bankman-Fried three weeks ago, he was crypto’s golden boy. Worth about $15 billion, this quirky 30-year-old led one of the industry’s largest empires.’s $400 million mishap leaves its token down 50% and raises doubts over the exchange’s transparency following FTX’s collapse.
German officials have searched UBS bank branches in Munich and Frankfurt as part of a money laundering investigation into Russian oligarch Alisher Usmanov.
Ramon Abbas will serve 11 years for multimillion-dollar hustle
“Self-custody is a fundamental human right,” Zhao tweeted, encouraging people to use the company’s Trust Wallet to take control of their coins.
The boy wonder of cryptocurrencies watched as his empire vaporized nearly overnight, leaving depositors scrambling and investigators taking a look.
The crisis has demolished Sam Bankman-Fried’s public image as a go-to resource for policymakers writing rules for crypto.
Bollywood actor Jacqueline Fernandez has reached Patiala House Court in connection with the Rs 200 crore extortion case involving multimillionaire conman Sukesh Chandrashekhar.
Flores brothers surrendered in 2008 and agreed to cooperate against Mexican drug lord Joaquín ‘El Chapo’ Guzmán Loera
A Nigerian social media influencer who flaunted a lavish lifestyle of private jets and luxury cars has been sentenced to 11 years in prison over charges related to a multimillion dollar scam that targeted companies in the United States and overseas.
Time is running out for newly elected New York Governor Kathy Hochul to sign a statewide moratorium on particularly polluting methods of cryptocurrency mining.
There are a staggering number of online transactions that take place each day in India. This not only helps the banking sector and the consumers but in general gives the economy a boost too.
A Pennsylvania man today admitted his role in a bank fraud conspiracy that targeted 12 different financial institutions in southern New Jersey and southeastern Pennsylvania, U.S. Attorney Philip R. Sellinger announced.
The award represents the largest single amount recovered for people who were hurt in Minnesota’s worst business fraud.
The ongoing feud between crypto titans may have rubbed off on the broader market, with Dogecoin and Shiba Inu hit badly.
A Pennsylvania man today admitted his role in a bank fraud conspiracy that targeted 12 different financial institutions in southern New Jersey and southeastern Pennsylvania, U.S. Attorney Philip R. Sellinger announced.
No one wants to ever have to deal with financial fraud. It can involve a debit card that’s being used for transactions the holder didn’t authorize, a scammer who convinces someone to hand over their financial information, or a website that looks legitimate but is truly just a mechanism for tricking people into giving up account numbers.
People aged 34 or under are around twice as likely to have fallen victim to a scam as older age groups, a survey suggests.
German finance watchdog BaFin has told Deutsche Bank (DBKGn.DE) to take specific measures to improve efforts to prevent money laundering and terrorism financing or face fines, the latest rebuke in regulatory proceedings against the bank that started in 2018.
A Nigerian social media influencer who flaunted a lavish lifestyle of private jets and luxury cars has been sentenced to 11 years in prison over charges related to a multimillion dollar scam that targeted companies in the United States and overseas.
The U.S. Department of Justice announced Monday that it seized about $3.36 billion in stolen bitcoin during a previously unannounced 2021 raid on the residence of James Zhong.
The Financial Action Task Force is planning to ramp up oversight of crypto providers, sources say.
The agency has also issued notice to Mukhtar’s wife Afsha, asking her to join the probe in the case. Mukhtar Ansari is lodged in Banda jail.
A notorious Instagram influencer from Nigeria has been jailed for more than 11 years in the US for his role in an international fraud syndicate.
The U.S. Department of Justice on Monday announced that law enforcement seized $3.36 billion of bitcoin from a man who “unlawfully obtained” more than 50,000 bitcoin from darkweb market Silk Road over a decade ago.
In-house lawyers working in major British companies are becoming increasingly concerned that the firms they work for are failing to keep up with the methods being used by criminals to carry out financial crime.
Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended to cut Iran off from the global financial system, blockchain data show.
What began as a delivery of drugs in a Sony PlayStation box led agents to a stash location in Novi where a drug organization stored more than 30 kilograms of fentanyl and over half a million dollars. Yesterday, the California-based leader of that organization pleaded guilty to a drug trafficking and money laundering conspiracy.
Ramon Abass, popularly known as Hushpuppi has been sentenced to 11 years for internet fraud and money laundering.
A Florida man was sentenced to 45 months in prison for laundering funds obtained from a $50 million internet-enabled fraud scheme, federal officials announced today.
The U.S. Attorney’s Office for the Southern District of New York will now be handling the investigation, Bloomberg reported Monday.
U.S. financial institutions reported over $1 billion in ransomware-related payments last year, majority of which were accounted for by Russian hackers, found a new analysis by the U.S. Treasury Department.
According to Cointelegraph, through a November 2, 2022, notice, the Switzerland financial regulator stated that it would initiate a threshold of 1,000 Swiss francs for transactions of virtual currencies to cash or other forms of payment
A federal grand jury returned an indictment against a Minneapolis woman for running a drug money laundering conspiracy on behalf of a large-scale fentanyl and marijuana dealer, announced U.S. Attorney Andrew M. Luger.
The European Commission has raised the threat level for money laundering in online gambling to its highest possible rating, and called for lower thresholds for due diligence checks to prevent criminal activity.