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US DoJ charges a member of the Japanese yakuza criminal organisation with trafficking nuclear material obtained from Myanmar and attempting to sell it to fund an illegal arms deal
Takeshi Ebisawa, Leader within the Yakuza Transnational Organized Crime Syndicate, stands accused of conspiring to sell weapons grade nuclear material and lethal narcotics from Burma, and to purchase military weaponry on behalf of an armed insurgent group…
AML executive at US credit union fined $100,000 for failing to flag $1bn in high risk transactions
A credit union official in the US has been fined $100,000 for not reporting millions of high-risk transactions, violating AML regulations. The FinCEN found that the official failed to file suspicious activity reports for nearly 2,000 transactions worth over $350m…
US DoJ unseals three federal cases, across two U.S. Attorneys’ Offices, as the most recent in a series of efforts to combat the illicit trafficking of Iranian oil that funds Iran’s Islamic Revolutionary Guard Corps
In the Southern District of New York, seven defendants, including a leader within Iran’s IRGC and officers of a Turkish energy group, are charged with terrorism, sanctions-evasion, fraud, and money laundering offences.
In a related action, in the District of Columbia, a Chinese woman and Omani man are charged with sanctions-evasion and money laundering offences in connection with the trafficking and selling of Iranian oil to Chinese government-owned refineries.
US DoJ charges a Belarusian and Cypriot national with money laundering conspiracy and operation of an unlicensed money services business in connection with BTC-e
According to the indictment, between 2011 and July 2017, Aliaksandr Klimenka, 42, allegedly controlled BTC-e, a digital currency exchange, with Alexander Vinnik and others. Klimenka also allegedly controlled Soft-FX, a technology services company, and FX Open, a financial company.
US DoJ announces charges on dark web vendor that resulted in forfeiture of $150M
Banmeet Singh, an Indian national, has pleaded guilty to operating a substantial dark web drug trade, involving the sale of controlled substances, and agreed to forfeit $150 million in cryptocurrency, facing an eight-year prison sentence…
ICBC agrees to pay $32.4m to US regulators over AML lapses, unauthorised use and disclosure of confidential supervisory information
The Bank failed to improve compliance program, failed to report backdated documents, and disclosed confidential supervisory information without authorisation. Regulated institutions must be held accountable for failing to adhere to New York’s rigorous legal and regulatory standards…
Gambling Commission fines Gamesys £6m for social responsibility and anti-money laundering failures
Gamesys Operations Limited which operates 12 websites including ballycasino.co.uk, doublebubblebingo.com and jackpotjoy.com will also have to undergo a third-party audit to ensure it is effectively implementing its AML and safer gambling policies, procedures and controls. The social responsibility failures included not always identifying…
US DoJ charges three individuals for running a multimillion-dollar pyramid scheme
Dee and his co-conspirators allegedly recruited participants through emails, robocalls, promotional videos, and webinars. They allegedly told consumers that 8FDL was a legitimate business with real products and lied to prospective members about how much money they could make…
Gambling Commission fines online operator Gamesys £6m for AML failings
Gamesys Operations Limited – which operates 12 websites including ballycasino.co.uk, doublebubblebingo.com and jackpotjoy.com – will also have to undergo a third-party audit to ensure it is effectively implementing its anti-money laundering and safer gambling policies, procedures and controls.
CFTC orders Freepoint Commodities to pay $91m for fraudulent scheme to misappropriate material non-public information
The fraudulent and deceptive conduct spanned from 2012 to 2018 and involved unlawful misconduct designed to obtain material non-public information from a South American state-owned enterprise in connection with the purchase and sale of fuel oil. The order requires Freepoint to pay more than $91m in civil monetary penalties and disgorgement…
Law firm Clyde & Co fined $635K for breaching UK money laundering rules
Global law firm Clyde & Co was fined 500,000 pounds ($635,613) for multiple breaches of money laundering regulations relating to a long-standing client. The firm admitted it failed to conduct adequate due diligence on a shipping industry client…
US DoJ sentences former special agent of the New York FBI Counterintelligence Division
Ex-FBI agent Charles McGonigal received a 50-month sentence for aiding sanctioned Russian oligarch Oleg Deripaska .His sentencing illustrates the department’s dedication to preventing designated individuals from bypassing U.S. sanctions…