06.21.21

Embattled Deutsche Bank to overhaul anti-financial crime controls

Deutsche Bank is planning to shake up its internal structure around anti-financial crime (AFC) efforts in the wake of criticism from multiple regulators.



06.21.21

Senior citizens lost almost $1 billion in scams last year: FBI

The highest numbers of scams were in California, Florida and Texas.



06.21.21

Colombia Drug Trafficking Money Laundered Through Modified Gold

A criminal group in Colombia is turning dirty money into adulterated gold, in the latest addition to a long list of laundering schemes using the precious metal.



06.21.21

Former Western New Yorker Pleads Guilty To Bank Fraud And Tax Evasion

U.S. Attorney James P. Kennedy, Jr. announced today that Ronald Rechan, 58, of Douglasville GA, pleaded guilty before U.S. District Judge John L. Sinatra, Jr. to making a false statement on a bank loan application and to tax evasion.



06.21.21

Coinbase-backed crypto trading firm hits $1 billion valuation after fresh funding

Amber Group, a cryptocurrency financial services firm, has raised $100 million as investors rush to back companies in the industry.



06.18.21

Latvian bank Rietumu fined 5.85 mln for money laundering failures

Latvia's Rietumu Banka has been fined 5.85 million euros ($6.96 million) for failure to vet its clients and monitor them for money laundering and terrorist financing, the country's banking watchdog said on Thursday.



06.18.21

Hawaii had largest increase in demand for crypto out of US states this year

"Around 6% of the U.S. population now use or own crypto, and the trend is growing," said the report.



06.18.21

Poachers, corruption and cash: Inside South Africa's new rhino crisis

Campaigners warn corruption is driving rhinos into extinction -and the problem is only getting worse.



06.18.21

Banking Can't Turn A Blind Eye To The Human Trafficking-Money Laundering Connection

The COVID-19 pandemic has impacted almost everything in the world, including human trafficking. While the virus hasn't necessarily increased this activity, it has created a distraction from the pervasive problem and allowed it to flourish in new ways.



06.18.21

Indonesia Central Bank Among Latest To Ban Crypto As Payment

In what may be yet another door slamming shut to the use of cryptocurrency in mainstream commerce, Indonesia is nixing the use of the digital offerings as payments.



06.17.21

GLOBAL CORRUPTION BAROMETER EU: PEOPLE WORRIED ABOUT UNCHECKED ABUSES OF POWER

EU residents share their views on and experiences of corruption



06.17.21

Bitcoin and other cryptos lose steam as summer lull sets in

The bitcoin (BTC-USD) price shot back above $40,000 (?28,346) following sessions of losses, but is treading water as fund managers say the cryptocurrency is in a bubble despite the price crash.



06.17.21

Italy says it has broken up China money laundering operation and European metals scam

Investigations unveiled a network of firms that from 2013 to 2021 sold around 150,000 tonnes of scrap metal, evading taxes on deals estimated at US$363 million



06.17.21

House Subcommittee Launches Investigation into FinTech Companies' Role in Allegedly Fraudulent PPP Loans

The House Select Subcommittee on the Coronavirus Crisis recently announced an investigation into the role of four Fintech companies and partner banks in issuing allegedly fraudulent Paycheck Protection Program (PPP) loans.



06.17.21

Incidence rate of online financial fraud in Canada continues to spike

A new study from TransUnion has shown that while Canadians are getting more comfortable with e-commerce during the pandemic, there has been a 218% increase in the incidence of digital financial fraud over the past half-year alone.



06.16.21

Wildlife trafficking: a new frontier for organised financial crime

Pressure is growing on financial institutions to toughen their approach to environmental crime, with G7 leaders vowing to crack down on the illicit fund flows supporting wildlife trafficking and campaign groups warning that the activity has morphed from a conservation issue to a financial crime concern.



06.16.21

UAE Central Bank meets lenders to increase co-operation on anti-money laundering regulations

The Central Bank of the UAE and the Ministry of Foreign Affairs and International Co-operation conducted a meeting with all onshore financial institutions to increase efforts against money laundering, the regulator said on Tuesday.



06.16.21

Wives of Chicago twins who helped convict El Chapo charged in money laundering case

The former head of the U.S. Drug Enforcement Administration's office in Chicago said the women betrayed the U.S. government, which got them out of Mexico after their husbands agreed to cooperate against Sinaloa cartel kingpin Joaquin "El Chapo" Guzman Loera.



06.16.21

Chinese National Pleads Guilty To $20 Million COVID-19 Pandemic Loan Fraud Scheme

Muge Ma, a/k/a "Hummer Mars," Lied that His Phony Companies Had Hundreds of Employees and Paid Millions in Wages to Receive COVID-19 Loan Funds



06.16.21

China is kicking out more than half the world's bitcoin miners - and a whole lot of them could be headed to Texas

China has long been home to more than half the world's bitcoin miners, but now, Beijing wants them out ASAP.



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