24th November 2020
The Anti-Money Laundering Council (AMLC) urged financial industry stakeholders to remain cautious and vigilant amid rising evidence that criminal elements may be abusing digital platforms that are now seeing greater adoption due to the pandemic. AMLC Chair and Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said proper know-your-customer and customer… Read More
24th November 2020
Roshan Baig, a former Congress minister in Karnataka, was on Sunday arrested by the CBI in connection with the ₹ 4,000-crore IMA ponzi scam. He was produced in a court and sent to 14-day judicial custody. Roshan Baig was summoned to the CBI office and based on “material evidence”, he… Read More
20th November 2020
Illegal gambling will continue to drive people to suicide and facilitate money laundering and match-fixing unless government action is taken, warns the Asian Racing Federation. In a research paper, the ARF’s anti-illegal betting task force outlines the widespread damage as illegal gambling grows at a quicker rate than the legal… Read More
18th November 2020
U.S. regulators are discussing the “why” of a new proposal that has crypto fans concerned. Speaking Monday at the V20 Virtual Asset Service Providers Summit, Carole House, cyber and emerging tech policy specialist at the Financial Crimes Enforcement Network (FinCEN), said criminals are conducting cross-border payments using smaller amounts… Read More
18th November 2020
The Australian man accused of running the local arm of an alleged cryptocurrency Ponzi scheme that torched $US2.5 billion ($3.4 billion) of investment worldwide has been charged with offences that carry jail terms of up to ten years. John Louis Anthony Bigatton, first reported in early 2019 by The Age and The Sydney… Read More
13th November 2020
Swiss companies will no longer be able to deduct bribes paid to private individuals from their taxes, Switzerland’s government said on Wednesday, according to an update of tax laws due to take effect on Jan. 1, 2022. Beyond bribes, costs from financing criminal activities or money paid in return for… Read More
9th November 2020
Julius Baer has made an agreement with the U.S. Department of Justice (DoJ) to settle allegations over its role in corruption surrounding global soccer body FIFA, the bank said on Monday. The bank has taken a provision of $79.7 million to cover expected fines after agreeing in principal to a… Read More
5th November 2020
The U.S. Securities and Exchange Commission paid $28 million to a whistle-blower who provided information that led to a successful enforcement action, adding to the eye-popping awards that tipsters have received from the agency this year. “In the past month alone, the commission has awarded four whistle-blowers over $150… Read More
5th November 2020
The U.S. derivatives watchdog is planning to offer rewards to companies that turn themselves in, following in the footsteps of other regulators and law-enforcement agencies. The Commodity Futures and Trading Commission is expected to release guidance Thursday spelling out how companies that self-report potential misconduct, cooperate with investigators and take… Read More
27th October 2020
Many financial institutions looking to offer banking services to the expanding number of legal cannabis growers and distributors in the U.S. are still limited by spotty regulations and expensive compliance efforts. The disparities between federal and state laws governing the use of marijuana and hemp, and the differences across states,… Read More