04.19.21

Prominent Dallas lawyer accused of agreeing to launder drug money for a cut of the profits

Ray Jackson, 51, used his law degree to "line his own pockets," authorities allege. An undercover DEA operation led to his arrest on federal charges.



04.19.21

Bitcoin suffers flash crash following week of crypto hype

After a hype-filled week for cryptocurrencies, Bitcoin experienced a flash crash over the weekend, plunging nearly 14% in less than an hour, from about $59,000 to $51,000, on Saturday night before rebounding. Other popular cryptocurrencies including ethereum and Dogecoin also fell dramatically, before recouping some of their losses.



04.19.21

The New Anti-Money Laundering Act: Issues for Financial Institutions

The new Anti-Money Laundering Act of 2020 established the most comprehensive set of reforms to American anti-money laundering law since the passage of the Patriot Act in 2001.pliance programs.



04.19.21

Regulatory Tolerance Wearing Thin When it Comes to AML Deficiencies

The Financial Conduct Authority's (FCA's) inaugural use of its criminal money laundering powers under Regulation 45 of the UK Money Laundering Regulations 2007 (MLR) against NatWest is viewed by many as a warning shot to firms within scope of the MLR that the FCA is prepared to utilise its criminal authority in cases that it considers to be serious, including against major financial institutions.



04.19.21

Biden was tough on drugs for decades. Now he faces challenges in fighting money laundering

Decades ago, then-Sen. Joe Biden established himself as a sort of drug czar on Capitol Hill. In the 1980s, he helped launch the Office of National Drug Control Policy. And a decade later, Biden became one of the masterminds behind Plan Colombia, a $7.5 billion bilateral program focused on, among other things, fighting drug trafficking in the Americas.



04.16.21

USC basketball avoids major NCAA penalties in corruption case

During an early-morning raid three and a half years ago, gun-wielding FBI agents arrested Tony Bland, then the associate head men's basketball coach at USC, in a hotel room as part of the sprawling investigation into bribery and corruption in the sport.



04.16.21

Accountant jailed for 'industrial scale' ?1.4m fraud

Steven Day, 51, of Perthshire, Scotland, plundered ?1.4m from firms and defrauded the NHS.



04.16.21

Here's how investors can spot the next Bernie Madoff

Bernie Madoff was perhaps the starkest reminder that financial advisors can go rogue - and, when they do, people stand to lose a lot of money.



04.16.21

UK Fraud Epidemic is Everybody's Problem but Nobody's Priority

In the UK, fraud accounts for more than 50% of reported crime; yet less than 1% of police time is spent investigating it.



04.16.21

Coinbase stock closes down day after landmark Nasdaq debut

Coinbase shares whipsawed Thursday, a day after the cryptocurrency exchange went public in a blockbuster direct listing.



04.15.21

Bernie Madoff, mastermind of the nation's biggest investment fraud, dies at 82

Bernard Madoff, mastermind of the biggest investment fraud in U.S. history, ripping off tens of thousands of clients of as much as $65 billion, died Wednesday.



04.15.21

Like it or not, you should probably start paying attention to bitcoin

As Coinbase goes public, cryptocurrency is more mainstream than ever.



04.15.21

Two Charged in High-Risk International Financial Scheme

An indictment was unsealed today in the Eastern District of New York charging two defendants with failing to maintain anti-money laundering controls, failing to file suspicious activity reports, and operating an unlicensed money transmitting business.



04.15.21

U.S. FTC commissioners to testify on anti-fraud efforts during pandemic

Commissioners on the Federal Trade Commission will testify to Congress next week to discuss the agency's anti-fraud efforts during the COVID-19 pandemic, particularly its ability to seek financial redress from accused scam artists.



04.15.21

Five Individuals Charged in Offering Fraud, Stock Manipulation and Money Laundering Schemes

Defendants Misappropriated More Than $10 Million and Used the Proceeds to Purchase Luxury Items, Plastic Surgery and a Bentley Automobile



04.14.21

What the Coinbase listing means for the price of bitcoin and other cryptocurrencies

Bitcoin has been surging to record highs, ahead of Wednesday's stock debut of crypto exchange Coinbase, and some analysts say the offering could be a potential pivotal moment for cryptocurrencies.



04.14.21

Liberia, Sierra Leone FIUs Brainstorm to Fight Money Laundering At Border Points

The Financial Intelligence Units (FIUs) of Liberia and neighboring Sierra Leone are presently brainstorming on workable measures to fight trade-based money laundering, the movement of cash along the borders of the two Mano River Union (MRU) countries, sharing intelligence and expertise in the fight against money laundering and terrorist financing.



04.14.21

Swiss money laundering probe eyes Lebanon central bank chief: report

From the British Virgin Islands to Geneva, Swiss prosecutors are tracking the suspected fund movements of Lebanon's central bank chief Riad Salameh, a Swiss newspaper reported Tuesday.



04.14.21

Money laundering headed by mafia in three cities

"Professional money launderers and their networks pose a significant threat to Canada's financial system," wrote RCMP Chief Superintendent Rob Gilchrist.



04.14.21

Online Vendor Pleads Guilty to $5 Million Postage Fraud Scheme

Cuong H. Nguyen pleaded guilty in federal court today to conspiring to engage in a wide-ranging postage counterfeiting, forging, and tampering scheme that, over the course of multiple years and more than 160,000 packages, deprived the U.S. Postal Service of approximately $5 million of postage due and owing.



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