04.28.17

Why Nevada doesn't care where the money comes from and never will

Last week’s USA Today story about companies being secretly set up in Nevada to buy condos and other property from Donald Trump was a reminder: Nevada’s infamously lax incorporation laws allow anyone — terrorists, sex traffickers, arms dealers, Putin, people who want something from a corrupt president, etc.



04.28.17

Money-laundering fine a ‘stain’ for AIB

The Central Bank announced this week it had fined AIB €2.275m for its failures to comply with anti-money laundering and terrorist financing reporting procedures. It was the second highest fine imposed by the Central Bank for money-laundering failures. The regulator said the breaches occurred after the enactment of the legislation in July 2010.



04.28.17

Difficult to stop illicit flows in Pakistan

FINANCE Minister Ishaq Dar is in Washington, D.C. these days, and as could be expected, during his meeting with the treasury secretary, the question of action against terror financing was raised. From the reported comments in the press, it appears the minister replied by pointing to the military operations against terrorist groups.



04.28.17

Two convicted in $2M Hoosier Lottery fraud

A Marion County jury convicted two family members this week of defrauding the Hoosier Lottery of $2 million. The defendants, Jackie Parsley II and Ashlee (Campbell) Parsley, were both found guilty of false passing of a lottery ticket, theft and five counts of money laundering following a three-day trial.



04.28.17

Driver in human trafficking case gets 8-year sentence

The last of four people convicted of running a Camarillobased human trafficking ring that victimized at least two dozen women was sent to state prison last week. After hearing tearful pleas for leniency from the man’s wife and daughter, Ventura County Superior Court Judge Patricia Murphy on April 19 sentenced 64-year-old Jiuyin Cui of Rosemead.



04.27.17

Florida lawmakers seek to bring virtual currency into the fold

If the bill passes, it will serve, in pertinent part, to define bitcoin and “virtual currency” (“VC”) as “monetary instruments” within the meaning of the state’s money laundering statute; in the same vein, bitcoin will be defined as a “medium of exchange in electronic or digital format that is not a coin or currency of the United States or any other country.”



04.27.17

AIB fined for breaching money-laundering rules

AIB has been fined €2.275 million by the Central Bank for failing to report potentially suspicious monetary transactions promptly to the Garda and Revenue. The financial regulator found AIB guilty of six breaches of anti-money laundering laws and legislation to ensure funding doesn’t make its way to terrorist organisations.



04.27.17

Brazil's Senate passes bill seen curbing corruption probes

Brazilian Senators, two dozen of whom are being investigated for corruption, pushed through a bill on Wednesday that judges and prosecutors have criticized as curbing their authority to carry out investigations, mainly of corrupt politicians themselves.



04.27.17

Malaysia, the money game country

How serious is the money-spinning industry in Malaysia? On my way back from Beijing last year, I met a group of young Chinese flying here to take part in a pyramid activity initiated by Malaysians. The money game industry has ventured out of the country in a big way!



04.27.17

Offshore wealth: Tax amnesty to lure back money opposed

Mainstream political parties that have a presence in parliament on Wednesday opposed the government’s move to offer a tax amnesty scheme in order to lure Pakistanis who have stashed money abroad to bring their wealth back.



04.26.17

$150,000 in stolen Indian Bank money used to invest in Bitcoin

The Bank of Maharashtra (BoM) lost Rs 6.14 crore rupees (approx $950,000) to four hacks in 49 days a bug – the result of a bug in the bank’s UPI app. The breach affected 23 branches in the Pune district and some of the stolen funds were used to invest in bitcoin was invested into bitcoin via three companies in Ahmedabad, Gujarat – a state in Western India.



04.26.17

Brazil corruption scandal is business as usual for Odebrecht

Grinning in front of the camera, the former CEO of the huge Brazilian builder at the center of the world's biggest corruption scandal spoke frankly about the billions in bribes and illegal financing that the Odebrecht company put into the pockets and campaign coffers of politicians and public officials.



04.26.17

Barbados objects to being labelled money laundering country

The Barbados government Tuesday described as “misleading” the decision by the United States to list the island as a major for money laundering. Attorney General Adriel Brathwaite said that “Barbados is duty bound to state its position on this finding, which it considers to be misleading”.



04.26.17

Former Haiti coup leader admits drug-money laundering charge

A former Haitian coup leader who was elected to be a senator pleaded guilty in the US on Monday to conspiring to launder drug money, American officials said. Guy Philippe, a 49-year-old former senior police officer accused of taking bribes from drug traffickers, entered the plea in court in Miami, where he has been held since his arrest and extradition from Haiti in January.



04.26.17

Lawmaker in Hungary's ruling party indicted for corruption

Chief Prosecutor Imre Keresztes said Tuesday that charges against Roland Mengyi and his accomplices stem from their participation in a failed scheme which created fake social cooperatives and applied for nearly 500 million forints ($1.7 million) in European Union funds distributed by Hungary.



04.25.17

President Trump Orders Review Of Financial Rules To Prevent Future Crises

“The process has begun long ago, but it really formally begins on Wednesday”, the president said at the Treasury Department, where he signed three presidential directives aimed at further protecting US workers and taxpayers.



04.25.17

Ex-Guinea Minister Charged With Laundering Bribes Goes to Trial

A former government minister in Guinea went to trial in New York on Monday on U.S. charges that he laundered $8.5 million in bribes he took in exchange for helping a Chinese company secure valuable mining rights.



04.25.17

DOJ Resolves To Indict Bank Manager, Several Others For Bangladesh Bank Heist

The Department of Justice (DOJ) has resolved to indict several individuals for money laundering in connection with the $81-million Bangladesh Bank (BB) heist in February 2016, including a former manager of the Rizal Commercial Banking Corporation (RCBC), and owners of remittance firm Philrem Corporation.



04.25.17

Iranian Account Closures in UK Denied

The bank accounts of Iranian nationals living in the UK currently face no problems, as was suggested by a recent article published by the British newspaper the Guardian, according to two officials familiar with the matter.



04.25.17

Caribbean Commonwealth Countries Get Commitment in Fight Against Corruption

Commonwealth Caribbean countries have been given a commitment by the Governance and Anti-Corruption Adviser to the Commonwealth Secretariat, Dr. Roger Koranteng, to continue the facilitation of anti-corruption messages and dialogues among the states.