by Jyotsna Bucktowar | Jul 5, 2025
The Monetary Authority of Singapore identified significant shortcomings in how banks conducted customer risk assessments, verified sources of wealth, and monitored suspicious transactions, which collectively allowed illicit funds to flow undetected through at least 16...
by AdrianaAMLP | Jul 4, 2025
Redinel Korfuzi was sentenced to 4 years and 6 months in prison for insider dealing and money laundering after misusing confidential information obtained through his role at an investment bank to generate nearly £1.5 million in illicit profits. His sister, Oerta...
by Jyotsna Bucktowar | Jul 3, 2025
Despite self-reporting and efforts to improve, AUSTRAC remains unconvinced that Western Union’s AML/CTF program is effective. CEO Brendan Thomas highlighted the high ML risks in the remittance sector and stressed the importance of strong internal controls. The...
by Jyotsna Bucktowar | Jul 3, 2025
In this scheme, fraudsters pose as donors and make an apparently generous donation—typically around £5,000—only to “accidentally” send a much larger amount. They then contact the charity claiming an error and request the surplus to be returned. In doing so, the...
by Jyotsna Bucktowar | Jun 30, 2025
Operating a money service business in Calgary and Vancouver, the accused—Kevin Sarrafi, who was arrested, and Saba Sarrafi, now subject to a Canada-wide warrant—allegedly used shell companies and third-party bank accounts to conceal the origins of illicit funds and...
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