21st October 2020
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
20th October 2020
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
20th October 2020
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
20th October 2020
The Polish unit of the Dutch bank ING, ING Bank Slaski, for years allegedly helped Russian and Ukrainian oligarchs move huge sums of money out of ex-Soviet Union countries, according to the US Treasury’s fraud investigation department, FinCen. FinCen files were leaked to and published by the International Consortium… Read More
20th October 2020
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
20th October 2020
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
20th October 2020
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
20th October 2020
The Department of Home Affairs is investigating the alleged cash-for-visa scheme linked to former Wagga Wagga MP Daryl Maguire, as the head of the department revealed he has reason to believe the former politician may have approached the federal government to make representations about visa issues. The secretary of home… Read More
20th October 2020
A large corporate fine hurts, but not nearly as much as having the judge presiding go to town over your offences. NAB is finding that out the hard way on Monday, after being slapped with a $15 million fine for its controversial ‘introducer’ program, that rewarded any Tom, Dick and… Read More
20th October 2020
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