9th July 2019
The U.S. Securities and Exchange Commission (SEC) on Monday issued a notice on broker-dealer custody of digital asset securities, amid industry requests for clarity on whether they can hold such assets under federal securities laws. The SEC’s statement, issued in conjunction with the general counsel of the Financial Industry Regulatory… Read More
8th July 2019
U.S. authorities said on Friday they were seeking a court order requiring Mexican drug lord Joaquin “El Chapo” Guzman to forfeit $12.7 billion following his conviction for racketeering and drug trafficking crimes earlier this year. The sum represents the total amount of cocaine, marijuana and heroin that a jury found… Read More
8th July 2019
Along with free trade deals, tax cuts for high earners and the threat of a no-deal Brexit, special tax-free zones are likely to feature in a Boris Johnson premiership. The frontrunner to move into No 10 told a Tory hustings event this week that… Read More
3rd July 2019
From jet skis to yachts, traffickers are resorting to increasingly innovative ways to smuggle people into Europe, a senior Europol officer said on Tuesday as the police agency launched a taskforce to tackle the lucrative trade. Criminal gangs are also becoming more violent towards migrants as they seek to maximize… Read More
27th June 2019
Drug traffickers, tax evaders and other criminals are likely placing “significant” sums of dirty money into Australia’s real estate market, and could be affecting the cost of housing, according to a report by Australian TV network SBS. While estimates of money laundering in the country remain vague, a 2015… Read More
17th June 2019
Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions. One tycoon, who considers himself potentially politically… Read More
12th June 2019
It is one of the most ambitious anti-money laundering (AML) bills presented to the US Congress in years, though its greater distinction may be that it arrives with something harder to come by than ambition on Capitol Hill: bipartisan support from well-placed lawmakers. Four members of the Senate Banking Committee—Sens. Read More
10th June 2019
UBS looks set to agree a 100 million euro ($113 million) settlement of a money laundering and tax case in Italy within the next few weeks, according to people familiar with the matter, in contrast to a similar case in France. Switzerland’s biggest bank is battling a number of court… Read More
7th June 2019
Tens of thousands of people are expected to take to the streets of Hong Kong on Sunday in a bid to block changes to the Chinese-ruled city’s extradition laws, which could pave the way for fugitives wanted by mainland China to be sent across the border for trial for the… Read More
5th June 2019
The U.S. Securities and Exchange Commission sued social media company Kik Interactive Inc on Tuesday, alleging it conducted an illegal $100 million securities offering of digital tokens in 2017. The move sets up what could be a high-profile legal fight over the U.S. government’s treatment of cryptocurrencies. Kik, which provides… Read More