01.13.21

Owner of Bitcoin Exchange Sentenced to Prison for Money Laundering

A Bulgarian national who was convicted by a federal jury for his role in a transnational and multimillion-dollar scheme to defraud American victims was sentenced today to 121 months in prison.



01.13.21

Deterring and detecting fraud at a time of heightened risk

Fraud experts expect the next few years to be a time of heightened risk as the damaging economic effects of the coronavirus pandemic create pressure and motive that can lead to wrongdoing.



01.13.21

Improper revenue recognition pervades financial fraud

The Securities and Exchange Commission has been launching enforcement actions against various types of financial fraud schemes, with improper revenue recognition seen as the most common type of fraud, according to a new analysis.



01.13.21

In Defense of the Realm: The NDAA, Money Laundering, and Terrorist Financing

The NDAA directs the Treasury to take a variety of steps to impair money-laundering and terrorist financing activities, many of which are to be implemented by the Financial Crime Enforcement Network ("FinCEN"), a special unit of the Department of Treasury.



01.12.21

Money laundering overhaul hailed as 'game changer'

For years as a federal prosecutor in New York, Daniel R. Alonso led teams that had to search through a maze of anonymously owned corporate entities to expose criminal activity.



01.12.21

Flowery money laundering; police confiscate property worth EUR 4.5 million

Latvia's State Police have arrested property and finances worth EUR 4.5 million in a criminal process regarding money laundering disguised as flower business, Latvian State Police report.



01.12.21

Bitcoin's Biggest Plunge Since March Shakes Faith in Crypto Boom

A steep selloff in Bitcoin is fueling concern that the cryptocurrency bubble may be about to burst.



01.12.21

New York Pharmacy Owners Charged In $30 Million COVID-19 Health Care Fraud And Money Laundering Case

On December 21, 2020, the Department of Justice (DOJ) announced that two owners of over a dozen New York-area pharmacies were charged for their roles in a $30 million health care fraud and money laundering scheme.



01.12.21

Despite the pandemic and economic crises of the last year, financial institutions continue to recognize their unique role in responding to human trafficking.

Despite the pandemic and economic crises of the last year, financial institutions continue to recognize their unique role in responding to human trafficking.



01.11.21

Passage of Anti-Money Laundering Act of 2020 Includes Comprehensive BSA/AML Reform Measures

On Dec. 31, 2020, as part of the National Defense Authorization Act ("NDAA"), Congress enacted the Anti-Money Laundering Act of 2020 ("AML Act") and the Corporate Transparency Act (collectively, the "Act") reflecting some of the most significant reforms to the Bank Secrecy Act ("BSA") and federal anti-money laundering ("AML") laws since the USA PATRIOT Act of 2001.



01.11.21

UK Issues Record Fine for Anti-Money Laundering Regulations Breach

U.K. authorities issued a record ?23.8 million (US$31.27 million) fine to a money transfer business for breaching strict regulations aimed at preventing criminals from laundering illicit cash, the U.K. Revenue and Customs (HMRC) department announced Thursday.



01.11.21

New law cracks down on shell companies to combat corruption

A watershed reform of U.S. money laundering laws could allow investigators to uncover the proceeds of foreign bribery, drug trafficking and terrorism in just a few keystrokes



01.11.21

China's crackdown on a corrupt judiciary has a long way to run. Zhang Jiahui is Exhibit A

Systemic corruption in Chinese courts is an open secret. This is particularly so in commercial litigation cases in which judges are known to rule in favour of the plaintiff or the defendant, largely based on whoever can offer the bigger bribe.



01.11.21

TD trial begins Monday as investors seek to recover US$4.5-billion after Ponzi scheme

A US$4.5-billion lawsuit against Toronto-Dominion Bank (TD-T +0.07%increase) over its role in providing bank accounts to offshore companies that were part of one of the world's largest Ponzi schemes is going to trial in Toronto on Monday after a decade of legal wrangling.



01.08.21

Massive anti-money laundering reform suggests busy year for US regulators

The United States has passed huge reforms to its anti-money laundering regime, bringing digital asset exchanges and others dealing in digital assets further within the reach of regulators.



01.08.21

Last year's challenges in financial crime will gather pace in 2021

As Covid-19's shadow continues to stalk economies as we move into 2021, the stakes are high for merchants and institutions alike to adapt to the challenges it presents, according to new report on financial crime mitigation.



01.08.21

Nirav Modi's sister, brother-in-law turn approver in PNB money laundering case

Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, the agency said on Thursday.



01.08.21

Is Money Laundering the Reason for Unexplained Funds Transfer from the Vatican to Australia?

Senior Vatican officials tell the Register they are continuing to investigate reports that $1.8 billion was wired between 2014 and 2020, but what happened and why remains very unclear.



01.08.21

Financial Fraud Enforcement Priorities for 2021 and Beyond (White Collar Insights - 2021 Outlook Series - Part 2)

In recent years, the federal government's financial fraud enforcement priorities have been largely consistent and robust.



01.07.21

Fake NHS vaccine messages sent in banking fraud scam

Fraudsters are sending out bogus text messages about the coronavirus vaccine in an attempt to steal bank details.



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