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 ›

Shell companies
OFAC sanctions vast network of Hezbollah-linked traders in precious gems, art, and luxury goods
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 ›
Zimbabwe’s gold mafia allegedly exposed by Al Jazeera, Transparency International calls for action against those implicated
The Qatar-based Al Jazeera news channel claims it is exposing “one of the biggest money laundering operations in the world” in a new six-part documentary. The first episode of the documentary looks at how Zimbabwe’s abundant store of gold is… Read More ›
Focus on TBML in FATF report on money laundering linked to trade in fentanyl and synthetic opioids
The Financial Action Task Force (FATF) has published a report that aims to raise awareness about the opioid trade, including the use of precursor chemicals, and the related global financial flows. Money Laundering from Fentanyl and Synthetic Opioids looks at… Read More ›
Banks caused to violate sanctions to launder millions of dollars for Russian oligarchs and proscribed entities
US banks were caused to process tens of millions of dollars in schemes to evade sanctions and export controls applicable to Russia according to an indictment charging five Russian nationals and two oil traders with global sanctions evasion and money… Read More ›
Russian sanctions create incentives for TBML and illicit trade
Sanctions imposed on Russia create incentives for illicit trade schemes and trade-based money laundering (TBML) involving myriad of illicit methods according to an associate professor at the King’s Russia Institute in London. Alexander Kupatadze, who specialises in organised crime and… Read More ›
Canada’s AML regulator issues special bulletin on Russia-linked money laundering related to sanctions evasion
Canada’s anti-money laundering and counter financing of terrorism (AML/CFT) regulator and financial intelligence unit has published a Special Bulletin on Russia-linked money laundering related to sanctions evasion. Ottowa has imposed a significant number of new sanctions on Russia in response… Read More ›
Clamp down expected on UK registered shell companies favoured by Russia and other ex-Soviet actors
The UK government has published its proposals to clamp down on the use of anonymous or fraudulent shell companies and partnerships that provide criminals with a veneer of legitimacy to help commit a range of crimes, from money laundering and… Read More ›