Featured Americas

Credit Suisse Blocks Prosecutor Using Critical Finma Report

Credit Suisse Group AG has acted to block Geneva prosecutors from using details of a critical report by the country’s financial regulator into the bank’s failure to prevent fraud at its wealth management unit. The bank asked Geneva prosecutor Yves Bertossa to seal the report, which he is legally… Read More

Glencore Under Investigation for Bribery by U.K. Authorities

Glencore Plc is being investigated for bribery by U.K. authorities, deepening the legal troubles that threaten the world’s biggest commodities trader. The shares fell as much as 8.6% to a three-year low. The move by the Serious Fraud Office adds to ongoing corruption probes that Glencore is facing in the… Read More

Trump Moves Toward Labeling Mexican Cartels as Terrorist Groups

The Trump administration is moving forward on calls to classify Mexican drug cartels as terrorist organizations after the killing of nine U.S. citizens in Mexico, with top officials seeking to reach a decision this week, according to three people familiar with the matter. President Donald Trump is scheduled to meet… Read More
2nd December 2019
It started with a huge hash bust. Following up on a tip, the RCMP set up a stakeout and pounced when a freight truck left a warehouse on Mitchell Island in Richmond. The haul: six tonnes of hashish (a drug made from the resin of cannabis), wrapped in cellophane and… Read More
2nd December 2019
Mexican President Andres Manuel Lopez Obrador said on Friday that his government was committed to fighting organized crime, seeking to dispel fears that the United States could take matters in its own hands in the fight against drug cartels. U.S. President Donald Trump said earlier this week that he plans… Read More
29th November 2019
Brazil’s police and prosecutors can access confidential tax and financial information without a court order, the country’s Supreme Court ruled on Thursday, clearing the way for authorities to reopen an investigation of the president’s son. A majority of the high court’s justices voted to allow public prosecutors in financial crime… Read More
28th November 2019
A Miami investment manager pleaded guilty Tuesday to participating in a $1.2 billion money-laundering ring run by wealthy Venezuelan businessmen with political connections to the socialist government of President Nicolás Maduro. Gustavo Hernandez Frieri, 45, was convicted of a single money-laundering conspiracy count and now faces less than 10… Read More
27th November 2019
At times, we AML professionals in the private and public sectors that play by the rules have difficulty realizing that the “bad guys” at the highest levels of the criminal world have no rules. They have more resources and capabilities than we can conceptualize. Unless you’ve lived in that world,… Read More
26th November 2019
An Auckland finance firm and its mother and son owners can now be revealed as the company and pair who failed to report $53.4 million of suspicious transactions from a Chinese-Canadian mogul accused of running a $200m pyramid scheme. Jiaxin Finance Limited, Fuqin Che and her son Qiang Fu, also… Read More
26th November 2019
“THE MERCY OF THE WAVES” The smiling boy visited Sunnybrook Yachts in the summer of 2017, after the value of Bitcoin had reached an all-time high, having tripled in five months. Sunnybrook is the largest yacht brokerage on Canada’s east coast. Its clients tended to be surgeons and litigators and… Read More
22nd November 2019
When merging with Fortis in 2010, ABN Amro failed to screen the over 5 million Fortis customers individually, according to NRC. All 5 million of them were automatically labeled as “reliable” – the lowest risk category – meaning that ABN Amro considers them relatively harmless and unlikely to commit financial… Read More
22nd November 2019
Swiss investigators have executed search warrants at addresses linked to Vitol and Trafigura, their counterparts in Brazil said on Thursday, as a sprawling probe into the global commodity trading industry intensifies. In a statement, Brazilian federal prosecutors said Swiss investigators searched the Geneva addresses on Wednesday as part of a… Read More
22nd November 2019
Swedbank AB may have violated U.S. sanctions against Russia by facilitating the transfer of about 10 million Swedish kronor ($1 million) from gun maker Kalashnikov to a U.S. subsidiary in Florida, according to a report by Swedish state broadcaster SVT. After Russia annexed Crimea in 2014, the U.S. imposed sanctions… Read More