WeChat users renting out accounts for quick bucks could wind up as criminal accomplices
7th August 2020
WeChat users renting out accounts for quick bucks could wind up as criminal accomplices
There are many ways to start a business and make money on the Chinese super app WeChat. But some users have found a very simple way to make some fast cash without any skills at all: let others pay to use their WeChat accounts. With WeChat central to so many… Read More
Estonia’s PM summoned to speak on US law firm hired for money laundering probes
7th August 2020
Estonia’s PM summoned to speak on US law firm hired for money laundering probes
Prime Minister Jüri Ratas (Center) has been summoned to appear before two Riigikogu select committees next week, in connection with the confidential agreement signed last month between finance minister Martin Helme (EKRE) and an American law firm. Ratas, along with Chief State Prosecutor Taavi Pern and head of the Financial… Read More
Cash-advance tycoon loses control of firm amid fraud allegation
7th August 2020
Cash-advance tycoon loses control of firm amid fraud allegation
Joseph W. LaForte, a convicted scammer who went on to start a Philadelphia lending company that raised almost half a billion dollars from investors, lost control of the business last week after federal regulators accused him of securities fraud. It’s the latest blow to the merchant cash-advance industry, a mostly… Read More
Trump’s Bank Was Subpoenaed by N.Y. Prosecutors in Criminal Inquiry
6th August 2020
Trump’s Bank Was Subpoenaed by N.Y. Prosecutors in Criminal Inquiry
The New York prosecutors who are seeking President Trump’s tax records have also subpoenaed his longtime lender, a sign that their criminal investigation into Mr. Trump’s business practices is more wide-ranging than previously known. The Manhattan district attorney’s office issued the subpoena last year to Deutsche Bank, which has been… Read More
US Treasury Announces New Sanctions on Ally of Zimbabwe’s Mnangagwa
6th August 2020
US Treasury Announces New Sanctions on Ally of Zimbabwe’s Mnangagwa
The U.S. Treasury has imposed financial sanctions on an alleged Zimbabwean government ally who it says used corruption to rake in millions of U.S. dollars. Kudakwashe Regimond Tagwirei and his company, Sakunda Holdings, were targeted Wednesday by the Treasury Department. “Tagwirei and other Zimbabwean elites have derailed economic development and… Read More
Game of Laws: Compliance in the Age of Regulatory Proliferation
6th August 2020
Game of Laws: Compliance in the Age of Regulatory Proliferation
Even if the pace at which regulations are drafted seems to be slowing down, at least at the EU-level, regulations in general are still trending toward bullish proliferation. In the financial-crime field alone, around 1,300 binding pieces of legislation have been brought to light in the span of 20 years… Read More
FBI Raids U.S. Company With Ties to Ukrainian Oligarch
5th August 2020
FBI Raids U.S. Company With Ties to Ukrainian Oligarch
A U.S. company affiliated with the Ukrainian billionaire Ihor Kolomoisky that has been accused of participating in an international fraud scheme was raided by the FBI in two locations on Tuesday. Agents conducted “law enforcement activity” in Cleveland and Miami at addresses that correspond with the offices of Optima Management… Read More
Swiss bankers and millions in gold tied to Hugo Chávez’s former nurse
4th August 2020
Swiss bankers and millions in gold tied to Hugo Chávez’s former nurse
AP — It was 2014 and Venezuela’s former treasurer Claudia Díaz was looking for a safe haven to store the unexplained wealth she had accumulated over the years. Then-president Hugo Chávez, who she once served as a nurse, had recently died and with the election of Nicolás Maduro, the nation’s… Read More
New York Is Investigating Trump and His Company Over Bank Fraud, Filing Suggests
4th August 2020
New York Is Investigating Trump and His Company Over Bank Fraud, Filing Suggests
The Manhattan district attorney’s office suggested on Monday that it had been investigating President Trump and his company for possible bank and insurance fraud, a significantly broader inquiry than the prosecutors have acknowledged in the past. The suggestion by the office of the district attorney, Cyrus R. Vance Jr., came… Read More
Tehran busts sanctions to set up shop in Venezuela
4th August 2020
Tehran busts sanctions to set up shop in Venezuela
The Islamic Revolutionary Guard Corps (IRGC), a branch of Iran’s army, is believed to be behind the opening of a superstore in Venezuela in the latest attempt to defy American-led sanctions. The Caracas branch of Megasis was officially opened last week by the Iranian ambassador and the Venezuelan vice-president. The… Read More
Popular

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

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

Barclays being probed by UK privacy watchdog on accusations of spying on staff

Former PrivatBank owners used vast array of companies to steal, launder billions: DOJ

Lebanon central bank freezes accounts of port, customs officials -document

Must Read

Lebanon’s Offshore Governor

In London, Cambodian elites tread in the Kremlin’s footsteps

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

Malta: Fimbank fined €168,943 for ‘serious’ anti-money laundering failures

Key US anti-laundering law stalled despite bipartisan support