JPMorgan Dropped Accounts That Became Bad News for Deutsche Bank
13th July 2020
JPMorgan Dropped Accounts That Became Bad News for Deutsche Bank
The trio of clients that got Deutsche Bank AG in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase and Co. Deutsche Bank moved millions of dollars across the globe for convicted sex offender Jeffrey Epstein in the past decade,… Read More
Crypto stablecoins face increasing regulatory scrutiny
9th July 2020
Crypto stablecoins face increasing regulatory scrutiny
Tether and other so-called cryptocurrency stablecoins have long flown under the radar of international regulators. That’s about to change. The Financial Action Task Force, with members from about 200 countries who recommend ways to stop money laundering and the financing of terrorism, said in a report Tuesday that stablecoins… Read More
Nigerian scammer arrested by FBI could be behind €13m BOV cyberattack
9th July 2020
Nigerian scammer arrested by FBI could be behind €13m BOV cyberattack
The United States government has gained custody of a Nigerian man who could have been behind the multi-million cyberattack on Bank of Valletta in February 2019. The FBI’s criminal complaint says that Ramoni Igbalode Abbas aka “Hushpuppi”, who amassed 2.4 million followers on Instagram flaunting luxury cars, designer clothing,… Read More
Billionaire Gertler threatens NGOs over Congo investigation into evading US sanctions
9th July 2020
Billionaire Gertler threatens NGOs over Congo investigation into evading US sanctions
Global Witness and the Platform to Protect Whistleblowers in Africa (PPLAAF) said they condemn a criminal complaint filed against them in France by Afriland First Bank, a Cameroonian financial institution named in the Undermining Sanctions investigation. “For two of the principal subjects of our report to threaten or file… Read More
Africa’s richest woman to cooperate in Angola corruption probe
8th July 2020
Africa’s richest woman to cooperate in Angola corruption probe
Isabel dos Santos, who is accused of causing billions of dollars in losses to the Angolan government during her father’s 38-year rule, said she is available to cooperate with authorities to clear her name and find out the truth. “What I want to resolve as quickly as possible are the… Read More
Zambia becomes second nation to tear up Mauritius tax deal
7th July 2020
Zambia becomes second nation to tear up Mauritius tax deal
Zambia has torn up its tax treaty with Mauritius, the latest African nation to cancel an agreement with one of the world’s leading offshore havens. President Edgar Chagwa Lungu’s cabinet terminated the 2012 treaty and will soon start to negotiate a new deal, according to a statement obtained by… Read More
Governments look to private sector in fight against financial crime
7th July 2020
Governments look to private sector in fight against financial crime
Private-sector institutions that facilitate the flow of money across the global financial system are often best placed to detect when the system is being abused by criminals. But the sheer volume of data banks collect can make screening for financial crime difficult. Mariano Federici, the former head of Argentina’s Financial… Read More
Report: More than 60 countries violated sanctions with North Korea last year
6th July 2020
Report: More than 60 countries violated sanctions with North Korea last year
Sixty-two countries violated United Nations Security Council sanctions against North Korea over a one-year period, according to a report from a Washington, D.C.-based think tank The Institute for Science and International Security report, released Wednesday, cites over 250 alleged violations from February 2019 to February 2020 based on… Read More
Enron legacy returns in battle over $80 million yacht
6th July 2020
Enron legacy returns in battle over $80 million yacht
Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with U.S. and Nigerian authorities over the proceeds of the sale of a luxury yacht. The dispute pivots on the Galactica Star — a 213-foot vessel once worth more than $80 million. Read More
Nigerian Instagram star extradited to face U.S. cyber trial
6th July 2020
Nigerian Instagram star extradited to face U.S. cyber trial
A Nigerian social-media celebrity was extradited to the U.S. from Dubai to face fraud charges. Ramon Olorunwa Abbas was flown to Chicago on July 2 and appeared in court the following day, the U.S. Department of Justice said in a statement. Abbas, widely known as “Hushpuppi,” has 2.4 million followers… Read More
Popular

U.S. seizes millions in cryptocurrency meant for terror groups

Wirecard: Germany’s anti-money laundering unit failed to share ‘dozens’ of warnings

German police launch raids in ‘Troika Laundromat’ money laundering probe

AML Fines Rose in First Half of 2020, Driven By Familiar Errors

Wolfsberg Group Issues Guidance on Source-of-Wealth, Source-of-Funds Checks

Must Read

U.S. seizes millions in cryptocurrency meant for terror groups

U.S. regulators issue guidance on AML enforcement actions

Luxury homes tie Chinese communist elite to Hong Kong’s fate

Information sharing in the era of coronavirus tracing apps – a new context for fighting financial crime?

Brazilian To Surrender $190 Million In Laundered Money