Mexico Senator Says Banxico Dollar Law Will Pass in February
30th December 2020
Mexico Senator Says Banxico Dollar Law Will Pass in February
Mexico will likely approve a bill making the central bank the nation’s dollar buyer of last resort following changes that will ease concerns it could force the institution to take illicit funds, a top senator said. Lawmakers will hammer out details with central bank and finance ministry officials in January,… Read More
Hit Hard by the Pandemic, Mexico’s Drug Cartels Tweaked Their Playbook
30th December 2020
Hit Hard by the Pandemic, Mexico’s Drug Cartels Tweaked Their Playbook
Like a lot of businesses, the Sinaloa Cartel was knocked back on its heels as the coronavirus swept the globe and travel ground to a near halt. Government measures to contain the virus had fouled up its operations, interrupting the supply of chemicals for manufacturing synthetic drugs like fentanyl and… Read More
OFAC fines Saudi-based NCB for violations of sanctions on Sudan, Syria
30th December 2020
OFAC fines Saudi-based NCB for violations of sanctions on Sudan, Syria
The United States has reached an agreement with Saudi Arabia’s National Commercial Bank over the NCB’s violations of US sanctions against Syria and Sudan, the US Treasury Department announced in a Monday release. The Treasury statement said:“The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced… Read More
Miami family heads to prison for dark web racket built on ID theft, counterfeit checks
30th December 2020
Miami family heads to prison for dark web racket built on ID theft, counterfeit checks
Initially, a Miami family’s crime appeared to be just illegal cockfighting. But after scratching the surface, Miami-Dade police found out it was a lot more serious. Soon the feds got involved. “When MDPD arrived at the Rodriguez family home, they found evidence that made plain the home also doubled as… Read More
U.S. Treasury Warns Banks of Covid-19 Vaccine Fraud
29th December 2020
U.S. Treasury Warns Banks of Covid-19 Vaccine Fraud
The Treasury Department alerted financial institutions to fraud related to Covid-19 vaccines, warning of ransomware attacks that target vaccine delivery operations and supply chains. The Treasury’s Financial Crimes Enforcement Network cautioned on Monday of an array of vaccine-related crimes, including the sale of unapproved, counterfeit or illegally marketed vaccines. In… Read More
Swiss hand over remaining $150 million to U.S. from massive Ponzi scheme
29th December 2020
Swiss hand over remaining $150 million to U.S. from massive Ponzi scheme
Switzerland will return $150 million from blocked Swiss bank accounts by the end of the year to the United States to be given to victims of convicted Ponzi scheme con artist Robert Allen Stanford, the Federal Ministry of Justice said on Monday. Stanford, a former Texas financier known primarily by… Read More
US regulator alleges crypto fraud by Australian
29th December 2020
US regulator alleges crypto fraud by Australian
The top US securities regulator has obtained an order imposing an asset freeze and other emergency relief against Virgil Capital LLC and its affiliated companies. The Securities and Exchange Commission said it took action “in connection with an alleged securities fraud relating to Virgil Capital’s flagship cryptocurrency trading fund, Virgil… Read More
New York’s ‘Son of Sam’ Law Invoked in German Heiress Fraud Scheme
29th December 2020
New York’s ‘Son of Sam’ Law Invoked in German Heiress Fraud Scheme
New York state is using its “Son of Sam” law to claw back the profits from a crime, a step it hasn’t taken since at least 2001. The law, which dates to 1977, prohibits convicts from making money from their crimes through lucrative book and movie deals. State legislators created… Read More
U.S. Senator Asks Treasury for Sanctions Briefing on Deripaska
25th December 2020
U.S. Senator Asks Treasury for Sanctions Briefing on Deripaska
The top Democrat on the Senate Banking Committee, Sherrod Brown, has asked the U.S. Treasury Department for a briefing about allegations that Russian billionaire Oleg Deripaska continued to influence day-to-day activities of United Co. Rusal International PJSC and whether those activities would violate a 2018 sanctions relief deal. Read More
U.S. Warns Crypto Stablecoins on Money Laundering, Risk Controls
24th December 2020
U.S. Warns Crypto Stablecoins on Money Laundering, Risk Controls
Top U.S. financial regulators are warning firms behind an important part of the cryptocurrency market to tighten protections against money laundering. At issue are so-called stablecoins that traders rely on to facilitate payments for digital tokens. In a Wednesday statement, the Treasury Department and other agencies said they should be… Read More
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