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FinCEN Issues First Penalty Against P2P Cryptocurrency Exchange

The U.S. Treasury Department’s financial intelligence unit fined a California man for running an unlicensed Bitcoin money services firm, marking the bureau’s first-ever monetary penalty against a peer-to-peer virtual currency exchange. The $35,000 fine against Eric Powers of Kern County, Calif. comes six years after the Financial Crimes Enforcement… Read More

Sudan arrests al-Bashir’s brothers, new calls for protests

AP — Protesters in Sudan called Thursday for new street demonstrations to pressure the ruling military council to speed up the transition of power to a civilian government as the new rulers announced the arrests of former president Omar al-Bashir’s two brothers on corruption charges. Military council spokesman Gen. Shams… Read More

U.S. will not prosecute Miami gold refinery after money laundering probe

The U.S. Attorney’s Office said it has agreed not to prosecute one of the country’s biggest gold refineries, Republic Metals Corporation (RMC), after an investigation into possible money laundering. The probe is part of a broader crackdown by U.S. authorities on imports of gold from South American countries such as… Read More

18th April 2019

EU banking watchdog clears Estonian, Danish regulators over Danske Bank

The European Union banking watchdog said on Wednesday that its investigation into financial regulators in Estonia and Denmark in relation to suspected money laundering activities by Danske Bank did not find any breach of EU law. Danish and Estonian financial regulators have publicly blamed each other for the Danske Bank… Read More

18th April 2019

Investor Browder files Swedbank money laundering complaint in Latvia

Bill Browder, an investor who campaigns to expose corruption, has taken a criminal complaint against Swedbank to Latvian authorities, alleging it was involved in a Russian money laundering scandal. Swedish broadcaster SVT reported in March that Swedbank processed gross transactions worth up to 20 billion euros a year from high-risk,… Read More

18th April 2019

As police wait to arrest him, ex-Peru president kills self

AP — Former President Alan Garcia mortally wounded himself with a gunshot to his head Wednesday as officers waited to arrest him in a big graft probe that has put Peru’s most prominent politicians behind bars and provoked a reckoning over corruption. Authorities broke through a door at Garcia’s mansion in… Read More

17th April 2019

Corruption scandal casts long shadow over Latvia

A year after closing one of its largest banks for money laundering and the detention of its central bank governor for alleged bribery, Latvia is struggling to deal with the fallout from the corruption scandal. The country’s new government, formed in January after months of political deadlock, is trying to… Read More

17th April 2019

Russia needs another $10 bln on banking sector clean-up – Fitch

Russia may need to spend another $10 billion in the next two or three years to continue a banking sector clean-up, which has already required eight times as much, Fitch rating agency said on Tuesday. Russia started cleaning up its banking sector in 2013 after President Vladimir Putin appointed Elvira… Read More

16th April 2019

UniCredit to Pay $1.3 Billion, Plead Guilty to US Sanctions Violations

A UniCredit Group affiliate bank will plead guilty to US federal and state criminal violations and pay $1.3 billion to regulatory and prosecutorial agencies to resolve breaches of sanctions against Iran and other nations, officials disclosed. Under terms of a non-prosecution agreement with the US Justice Department, the group’s German… Read More

16th April 2019

Shareholder adviser ISS opposes free pass for UBS bosses after tax ruling

UBS shareholders should oppose discharging the board and top management of Switzerland’s biggest bank from liability after a guilty verdict in a French tax evasion case, proxy adviser Institutional Shareholder Services (ISS) said. “A vote against the formal discharge of the board of directors and senior management is warranted on… Read More

16th April 2019

Democrats Request Docs from Four Banks in Probes of Trump, Russian Laundering

Democratic lawmakers on Monday issued a subpoena to Deutsche Bank and requested documents from JPMorgan Chase, Bank of America and Citigroup as part ongoing probes into the US president’s financial ties to other nations and suspected money laundering in Russia and Eastern Europe. The Deutsche Bank subpoena, issued by the… Read More

16th April 2019

Affidavit details fraud case of man linked to Russian agent

AP — Newly unsealed documents in the fraud case of a South Dakota man linked to an admitted Russian covert agent show he obtained at least $2.3 million from 78 people for bogus investments dating to at least 1997. Paul Erickson has pleaded not guilty to 11 counts of wire… Read More

15th April 2019

Danske Bank auditor EY reported to fraud squad over 2014 report

Accountant EY’s audit of scandal-hit Danske Bank came under scrutiny on Friday as Danish authorities asked the state prosecutor for financial fraud to investigate the matter. Danske Bank is under investigation in the United States, Denmark, Estonia, France and Britain over payments from Russia, ex-Soviet states and elsewhere. It has… Read More

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FinCEN Issues First Penalty Against P2P Cryptocurrency Exchange

Romanian justice minister resigns after losing party support

Sudan arrests al-Bashir’s brothers, new calls for protests