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Hong Kong Customs cracks down on ML case

Hong Kong Customs mounted an operation codenamed “Eagle Net” and detected a suspected money laundering case. the suspects used personal bank accounts at various banks including virtual banks to launder a total of about $600 million from unknown sources…

US Govt loophole on Putin’s cronies hiding their cash

The private equity industry has lobbied hard to keep its exemption from anti-money-laundering rules. If Roman Abramovich is sanctioned, the exemptions and loopholes enjoyed by private equity firms and hedge funds would make it much more difficult…

DOJ unwinds complex web in hunt for Russian wealth

The DoJ is unraveling a complex web of shell companies and middlemen used by Russian oligarchs as it accelerates efforts to seize assets belonging to the Kremlin’s most wealthy and influential players…

 

The biggest money laundering scandals in history

Money laundering is a major concern for businesses and financial institutions across the world and even the biggest…

Swiss considers amending banking secrecy laws

Swiss considers amending banking secrecy laws amid UN pressure as it faces pressure from UN officials to scrap rules under which whistleblowers and journalists who report on potential wrongdoing can be prosecuted…

How a petrochemicals empire quietly dodged Iran sanctions

Indian tycoon Yogesh Mehta has made a fortune with Petrochem, his Dubai-based petrochemicals distributor. But one aspect of that business empire has remained hidden from public view: a trade in sanctioned Iranian goods…

OCC on Anchorage Digital failed to maintain proper AML rules

The Company failed to adopt and implement a compliance program that adequately covers the required BSA/AML program elements

Barbados PM lashes out at international AML regime 

Mia Mottley has criticised the international AML regime as disproportionate for small developing countries given the small risk they represent compared to large developed nations where most of the actual money laundering is taking place…

Brazilian Senate on incoming approval of the ‘Bitcoin law’

The law will allow the president of Brazil to designate or create a regulatory agency to oversee the crypto market…. There is a market demand for a safer business environment and the need for criminal classification to avoid fraud…

Microsoft on illegal bribes in the Middle East & Africa

A former senior director at Microsoft has accused the company of paying illegal bribes to win business deals in the Middle East and Africa. Microsoft 3 years ago was fined by the US DoJ…

Interpol Financial Crime & Anti-Corruption Centre

Interpol new crime centre will expand and streamline the world police body’s existing initiatives in tackling financial crimes, illicit money flows and asset recovery by centralizing the international response to transnational financial crime and corruption…

Winery cleared of mafia money laundering 

The war in Ukraine continues to send tremors into the wine world with the EU unveiling another round of sanctions – this time, luxury goods – aimed at kicking bagpipe-loving Russian oligarchs where it hurts…