21st September 2020
A Mexican court has unfrozen the bank accounts of a local company blacklisted by the United States for trading in oil with Venezuelan state oil firm PDVSA despite U.S. sanctions, Mexico’s anti-money laundering unit said on Saturday. In a statement, Mexico’s Financial Intelligence Unit (UIF) said it disagreed with the… Read More
18th September 2020
A leaked version of rules to be issued later this month by the European Commission proposes an all-encompassing set of regulations covering the trading or issuance of digital assets across the 27-nation bloc. Europe’s Markets in Crypto-Assets (MiCA) draft legislation provides legal certainty around crypto assets – cryptocurrencies, security… Read More
17th September 2020
The Financial Crimes Enforcement Network said Wednesday that a significant overhaul of the nation’s anti-money-laundering regulatory framework is in the works. In an advance notice of proposed rulemaking, Fincen said it plans to firm up the definition of an “effective and reasonably designed” AML compliance program, something the regulator said… Read More
16th September 2020
The short-seller that warned about the Wirecard scandal has targeted a second German listed business, this time claiming more than 1,400 British small business owners have fallen prey to an alleged leasing scam. Viceroy Research has published a report that claims Grenke, a finance group that lends to small and… Read More
16th September 2020
By Will Neal, OCCRP, 14 September 2020 OCCRP – Prosecutors in the United States have indicted three people on charges of bank fraud and money laundering related to an alleged conspiracy to violate sanctions against North Korea. According to an affidavit filed on Monday in Washington, D.C., Ri… Read More
15th September 2020
International perpetrators of genocide and torture, but not corruption, are to face new-model EU sanctions, a leaked document shows. Those guilty of crimes against humanity, slavery, extrajudicial killings, enforced disappearances, and arbitrary arrests will also face EU asset-freezes and visa-bans. And those responsible for human-trafficking, sexual violence, and abuses of… Read More
7th September 2020
Only four boiler room scams were prosecuted by the City regulator over the past five years, despite its warning that people were losing their homes and savings to “sophisticated” frauds. The Financial Conduct Authority (FCA) also admitted that no boiler rooms had been shut down as a result of its… Read More
2nd September 2020
Amid the current focus on pandemic-related issues in the financial industry and by its regulators, the SEC, CFTC, and FINRA announced a groundbreaking AML enforcement action against Interactive Brokers LLC (IB) on Aug. 10. This case is a first in several ways: the first CFTC… Read More
31st August 2020
Iran’s central bank said on Saturday it was taking legal steps to counter a lawsuit filed in a U.S. court by creditors seeking to seize $1.7 billion of its assets held by Deutsche Boerse’s (DB1Gn.DE) Clearstream unit. The German stock exchange operator said earlier the creditors had filed the… Read More
25th August 2020
The UK Financial Conduct Authority (FCA) is seeking input on a plan that would impose new annual reporting requirements on electronic money institutions, cryptoasset exchange providers and other firms. In a consultation paper published on Monday, the authority said the businesses would be required to submit Annual Financial Crime Reports irrespective… Read More