Authorities in Italy and Spain have arrested 33 suspects in a coordinated action against a globally active money laundering criminal network according to the EU police agency, Europol. It says those arrested allegedly laundered drug profits generated in Europe, by… Read More ›
Trade-based money laundering (TBML) has recently become more prevalent across Europe according to the head of Ireland’s Garda National Economic Crime Bureau (GNECB), detective chief superintendent, Pat Lordan. Speaking to Irish new channel, The Journal, at the European Anti-Financial Crime Summit… Read More ›
TD Bank’s US$13.4 billion takeover of US regional bank First Horizon collapsed over regulators’ concerns about the Canadian lender’s anti-money laundering (AML) practices, according to the Wall Street Journal (WSJ). On May 4 2023, TD Bank informed First Horizon that… Read More ›
A US federal grand jury has indicted a Russian national who allegedly used the American banking system to illegally transmit more than US$150 million, of which US$65 million was used to illicitly purchase overseas gold bullion. Feliks Medvedev has been… Read More ›
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) and the commerce department’s Bureau of Industry and Security (BIS) have issued a supplemental joint alert urging US financial institutions to remain vigilant for potential attempts by Russia to evade US… Read More ›
Collaboration between public sector agencies and reporting entities such as banks can significantly enhance the effectiveness of measures to counter financing of terrorism according to the International Monetary Fund’s (IMF’s) recently published book on counter terrorism financing frameworks (Trade-based Financial… Read More ›
Tightening restrictions on trade in Russian-origin diamonds, gold and other metals is expected to feature prominently in discussions amongst leaders of the Group of Seven (G7) nations when they contemplate further sanctions on Moscow at a summit this week. Other… Read More ›
The US treasury department’s Office of Foreign Assets Control (OFAC) has designated what it describes as a vast international money laundering and sanctions evasion network of 52 individuals and entities in the UAE, Lebanon, South Africa, Angola, Côte d’Ivoire, the… Read More ›