09.28.16

TRENDING: TRANSACTION LAUNDERING GROWTH AND AML/CTF LEGISLATION UPDATE

A troubling global trend in the financial services sector has emerged over the course of the past week, which may lead to serious ramifications on financial institutions around the world in the coming months. Ron Teicher, CEO of the bank-centered cyber intelligence provider EverCompliant, shed light on this issue...



09.28.16

New York Federal Judge Rules ”Bitcoins” Qualify as Money: “It’s Virtually Money!”

In the latest opinion to wrestle with the question of whether virtual currency should be considered money, Judge Alison Nathan in the U.S. District Court for the Southern District of New York found that for the purposes of a federal anti-money laundering statute, “bitcoins” qualify as money.



09.28.16

Global money laundering group urges Singapore to step up its efforts

An international group that monitors money laundering said on Tuesday that Singapore should pursue more offenders involved in international cases and take more action to confiscate suspicious funds moving through the city-state.



09.28.16

SA is Not the World's Most Corrupt Country (Yet)

If you've heard someone telling you at dinner lately that SA is now the world's most corrupt country, this is probably why...



09.28.16

Brazil's Petrobras Corruption Scandal Gets Lula's Finance Minister Arrested

Another day, another Brazilian politician arrested...



09.27.16

HSBC top lawyer calls for new global anti-financial crime measures

LONDON, Sept 26 (Reuters) - Governments worldwide should pass new laws to facilitate the sharing of information between themselves and the private sector in order to better combat financial crime, HSBC's top lawyer told a banking conference in Geneva on Monday.



09.27.16

Cuomo Says He Had No Idea About Anything That Was in the State Corruption Complaint

BUFFALO, N.Y. -- The governor tried to make a few things clear during his visit to Buffalo Friday. First, he had no knowledge of the allegations laid out in a 79 page federal complaint.



09.27.16

Philippines an ‘escape route’ for dirty money -- study

“The Philippines’ location is considered a major crime ‘enabler’ for it facilitates the entry and escape routes of organized crimes,” read the National Risk Assessment 2011-2014 released by the Anti-Money Laundering Council (AMLC).



09.27.16

Philippines an ‘escape route’ for dirty money -- study

“The Philippines’ location is considered a major crime ‘enabler’ for it facilitates the entry and escape routes of organized crimes,” read the National Risk Assessment 2011-2014 released by the Anti-Money Laundering Council (AMLC).



09.27.16

Why banks are betting on AI

Anti-money laundering, fraud prevention and sanctions processing are three of the key areas people working in in the payments industry see potential for artificial intelligence (AI) to play a role.



09.26.16

U.S. Prosecutors Are Out to Crack Russia’s Crooked Money Machine

U.S. federal prosecutors just won’t let go of their three-year-old criminal action against alleged beneficiaries of stolen and laundered Russian taxpayer money.



09.26.16

U.S. designates Vancouver company PacNet a 'significant transnational criminal organization'

The U.S. Treasury Department has designated Vancouver-based company PacNet a "significant transnational criminal organization" as part of a crackdown on mail fraud.





09.26.16

US moves against money laundering group with Irish links

The United States has moved against what it describes as a major international money laundering network which has operations based in Ireland.



09.26.16

New York governor: Corruption allegations ‘reprehensible’

BUFFALO, N.Y. (AP) — Gov. Andrew Cuomo, addressing a scandal that has rocked his administration and its economic development initiatives, said Friday that while he finds the corruption allegations “reprehensible” and disappointing they won’t derail efforts to revitalize the upstate economy.



09.23.16

Flamboyant Arab Scams UK for £113m

Britain's biggest cyber-fraudster grew so rich from a £113million scam that he flew his personal valets 8,000 miles across the world to polish his Porsches.



09.23.16

Wells Fargo has one heck of a scandal on its hands

Wells Fargo CEO John Stumpf endured a nearly three-hour questioning from the US Senate banking committee on Tuesday. Stumpf was constantly taken to task by senators, both Democratic and Republican, for the scandal in which Wells Fargo employees opened roughly 2 million checking and credit accounts without customers' knowledge.



09.23.16

Anti-Corruption Watchdog Seeks EU

BRUSSELS (AP) — Anti-corruption watchdog Transparency International has urged the European Union to take the lead in efforts to expose those who represent, or profit, from businesses with secretive links to the world's biggest tax havens, as criticism mounted Thursday of a former top EU official caught up in a wide-ranging document leak from the Bahamas.



09.23.16

Canadian Banks Set Up Almost 2,000 Offshore Companies In The Bahamas: Records

Three major Canadian banks set up thousands of offshore companies in one of the world's top tax havens, leaked records show.



09.23.16

Ten charged in sweeping NY corruption case

ALBANY – Some of New York's largest upstate development projects under Gov. Andrew Cuomo were tainted by self dealing and bid rigging, prosecutors alleged in criminal complaints Thursday.