Former Payment24 CEO sentenced for sanctions violations
21st October 2020
Former Payment24 CEO sentenced for sanctions violations
An Iranian businessman was sentenced to 23 months in prison for his role operating a company that prosecutors said helped Iranians circumvent U.S. sanctions. Seyed Sajjad Shahidian, founder and former chief executive of Iranian online financial services company Payment24, pleaded guilty in June to conspiring to defraud the U.S. Read More
The AML System: A Failure of Statecraft?
20th October 2020
The AML System: A Failure of Statecraft?
Consider the current state of anti-money laundering efforts across the globe. Around 2% of global GDP is laundered annually, amounting to between $800B – $2T. Banks spend around $8B annually fighting it but affect only 0.1% of criminal finance. What we know then is that the ROI of the… Read More
Goldman Poised to Pay More Than $2 Billion in DOJ’s 1MDB Probe
20th October 2020
Goldman Poised to Pay More Than $2 Billion in DOJ’s 1MDB Probe
Goldman Sachs Group Inc. has reached a long-awaited pact with the U.S. Department of Justice to pay more than $2 billion for the bank’s role in Malaysia’s 1MDB scandal, and the deal may be announced within days, according to people familiar with the matter. The accord, part of an international… Read More
6 money laundering reforms that experts say need to happen right now
20th October 2020
6 money laundering reforms that experts say need to happen right now
By Ben Hallman, Spencer Woodman, Will Fitzgibbon and Karrie Kehoe, ICIJ, 19 October 2020 ICIJ — The biggest banks in the world are moving vast amounts of money for drug cartels, corrupt regimes, arms traffickers and other international criminals after having pledged repeatedly to do more to staunch the… Read More
U.S. Treasury’s FinCEN Issues $60 Million Penalty Against Operator of Bitcoin ‘Mixers’
20th October 2020
U.S. Treasury’s FinCEN Issues $60 Million Penalty Against Operator of Bitcoin ‘Mixers’
A bureau of the U.S. Treasury Department Monday imposed a $60 million penalty on Larry Dean Harmon, operator of the bitcoin “mixers” Helix and Coin Ninja, for allegedly violating anti-money-laundering laws, the agency said. The civil penalty against Mr. Harmon, who already faces charges from the U.S. Justice Department, is… Read More
U.S. threatens sanctions as U.N. arms embargo against Iran expires
20th October 2020
U.S. threatens sanctions as U.N. arms embargo against Iran expires
The United States has threatened to impose sanctions against any individual or entity that contributes to Iran’s conventional weapons program while rejecting the expiration of a United Nations arms embargo on Tehran. The decade-long embargo — which was part of a landmark 2015 nuclear deal that President Donald Trump… Read More
Mr. HispanoPreneur: The Man Behind Honduras’ $47-Million Coronavirus Disaster
20th October 2020
Mr. HispanoPreneur: The Man Behind Honduras’ $47-Million Coronavirus Disaster
It was early July when David Velásquez, then 29, started to feel the aches and fever that made him suspect he had caught COVID-19. His brother, José, rushed him to one of Honduras’ emergency centers for virus testing and treatment, but all he found was chaos. “The disorganization was tremendous,”… Read More
Trump rally ‘VIP’ among six Chinese nationals charged with drug money laundering
20th October 2020
Trump rally ‘VIP’ among six Chinese nationals charged with drug money laundering
A Chinese national whose Instagram page features pictures of him wearing a VIP pass at a 2018 rally for President Donald Trump, is now on U.S. soil after being charged with conspiring to distribute cocaine and laundering the illicit funds, according to court documents filed earlier this week. Tao Liu,… Read More
The day the international tax authorities came knocking
19th October 2020
The day the international tax authorities came knocking
On a sunny Friday in late January, investigators from the Australian Tax Office issued subpoenas and fired off letters as part of an unprecedented probe that reached around the world. It was a similar scene in Amsterdam, where investigators from the Dutch tax agency set about a similar task. So,… Read More
Iran says UN arms embargo lifted, allowing it to buy weapons
19th October 2020
Iran says UN arms embargo lifted, allowing it to buy weapons
Iran has announced that it is now free to purchase weapons on the basis of its defense needs, as a United Nations conventional arms embargo imposed on the country expired on Sunday. “Today’s normalization of Iran’s defense cooperation with the world is a win for the cause of multilateralism and… Read More
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