Featured Predicate Crimes

Privacy Coins Face Existential Threat Amid Regulatory Pinch

The subset of digital assets dubbed privacy coins, which have long delighted libertarians and frustrated law enforcement, are feeling the pinch of a step up in regulation. Cryptocurrencies such as Monero, Zcash and Dash, which can to varying degrees obfuscate transactions, are making it harder for exchanges and custodians to… Read More

Lebanon’s Jammal Trust Bank forced to close by U.S. sanctions

Lebanon’s Jammal Trust Bank has been forced to wind itself down after being hit last month by U.S. sanctions for allegedly helping to fund the Iran-backed Hezbollah movement, the bank said on Thursday. The central bank said the value of the bank’s assets, and its share of the national deposit… Read More

Foreign Investors Fueled Violence and Corruption in South Sudan, Report Finds

A cabal of ruling elites and warlords in South Sudan have been propped up by a complex and global web of corruption that includes would-be American arms dealers, British business tycoons, and Chinese oil giants, according to a new report released on Thursday. The report, released by the Sentry,… Read More
20th September 2019
AP — U.S. officials are investigating the suspected looting of valuable European and Latin American artwork they believe is being quietly plundered by Venezuelan government insiders as Nicolas Maduro struggles to maintain his grip on power. The U.S. Treasury in recent months has sought the cooperation of the… Read More
20th September 2019
Financial intermediaries and other entities classified as “high-risk” are going to have to undergo a rigorous examination by the Financial Intelligence Analysis Unit every 18 months. A new automated system will classify entities according to their risk profile, a compliance manager with the FIAU said during a media briefing in response… Read More
20th September 2019
The Reserve Bank of India, on Thursday, issued a revised set of rules for concurrent audits in commercial banks, amidst rising instances of fraud detected at Indian lenders.  Concurrent audits, conducted by internal officials or an external agency, are intended to examine transactions across various banking departments to ensure… Read More
20th September 2019
Despite the best efforts of law enforcement agencies, regulators, international government organisations, diplomats and a complex framework of multilateral legislative and cooperative arrangements, the cost of financial crime and money laundering globally and regionally remains unacceptably high. The UN Office on Drugs and Crime estimates the amount of money… Read More
20th September 2019
The parliamentary foreign affairs commission on Tuesday approved a draft resolution supporting Belgium’s membership of INSTEX, the European special purpose company that is required to allow trade with Iran despite American sanctions. In 2015, an agreement was reached between Iran and the five members of the UN Security Council as… Read More
20th September 2019
A court handed down a two-year prison sentence for bribery to former Salvadoran President Elias Antonio Saca, the attorney general’s office said on Thursday. Saca, 54, who is already serving a 10-year prison sentence for misuse of public funds and money laundering, was found guilty of having offered $10,000 to… Read More
20th September 2019
European Union ambassadors backed a former anti-corruption crusader from Romania to become the European Union’s first chief prosecutor, defying objections from her own government and other leaders’ endorsement of a rival candidate. Booted from her job at home after leading a drive that put scores of top-level officials behind… Read More
19th September 2019
Just days after declaring the United States was “locked and loaded” in response to a suspected Iranian attack on key Saudi Arabian oil facilities, U.S. President Donald Trump on Wednesday said that he directed the Treasury Department to “substantially increase” sanctions on Iran. That raises several questions: What is left… Read More
19th September 2019
British Arab Commercial Bank PLC agreed to pay $4 million to settle allegations that it violated U.S. sanctions on Sudan, the U.S. Treasury Department said. The Treasury had alleged that the London-based commercial bank, with no presence in the U.S., processed payments of hundreds of millions of U.S. dollars related… Read More
19th September 2019
Latvia’s financial watchdog said on Wednesday it had fined PrivatBank, the country’s 12th-biggest bank, 1 million euros ($1.1 million) for insufficient money-laundering controls. The Financial and Capital Market Commission (FCMC) said in an emailed statement it had found a number of “serious faults in the internal control system in the… Read More