10th May 2016
The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Cunningham Commodities, LLC (Cunningham), a registered Futures Commission Merchant (FCM) based in Chicago, Illinois. The Order finds that Cunningham violated CFTC’s Regulations that 1) require an FCM to immediately report to the CFTC any deficiency in its customer segregated account or the targeted residual interest in its customer segregated account and 2) require an FCM to submit daily reports to the CFTC for positions held by certain large traders (Large Trader Reports) whose accounts are carried by the FCM. Read More
9th May 2016
The co-founder of Liberty Reserve, the operator of what had been a widely-used digital currency, was sentenced to 20 years in prison on Friday for conspiring to help cyber criminals launder hundreds of millions of dollars using its services. Read More
6th May 2016
A prominent family in Panama has been running businesses as a front for a major drug money-laundering operation, according to the US authorities. Read More
28th April 2016
A director of three debt management firms has been sentenced to 15 months in prison, suspended for two years, and 200 hours of community service for fraud by abuse of position. Read More
27th April 2016
The Federal Government’s financial intelligence agency, AUSTRAC, has filed a further sixty-one alleged contraventions against Tab Limited, Tabcorp Holdings Limited and Tabcorp Wagering (Vic) Pty Limited adding to current civil penalty court proceedings. Read More
26th April 2016
Three people go on trial in Luxembourg today (26 April) over the so-called LuxLeaks scandal that exposed the country’s huge tax breaks for major international companies, with the issue riding high after the recent Panama Papers revelations. Read More
25th April 2016
The Financial Industry Regulatory Authority (FINRA) announced today a decision barring James Van Doren from the securities industry for unethical conduct involving money laundering and a scheme to deceive a friend's creditors and facilitate violations of law, including conspiracy to commit bankruptcy fraud. Read More
18th April 2016
Brazil’s president may soon lose her job over charges that she manipulated official accounts. Argentina’s former leader faced public inquiry last week in a money laundering probe. And Peru’s presidential front-runner has been forced to disavow her own father, convicted of embezzling millions of dollars in the 1990s and now sitting in prison. Read More
14th April 2016
The Financial Conduct Authority (FCA) has today published a Decision Notice in respect of Mr Arif Hussein, formerly a derivatives trader at UBS in London. This sets out the FCA’s finding that Mr Hussein is not a fit and proper person and its decision to prohibit him from any role in regulated financial services. Read More
12th April 2016
The U.S. Commodity Futures Trading Commission (CFTC) today settled charges against Nathan Schleifer of New York City, and his company, Galileo Trading, LLC (Galileo), for fraudulently soliciting customers to trade commodity futures and for repeatedly making numerous false statements and material misrepresentations to the National Futures Association (NFA) regarding their trading practices. Read More