A report conducted by the Wall Street Journal (WSJ) has revealed that $88.6 million worth of illicit funds have been channeled through 46 various cryptocurrency exchanges with $9 million alone being funneled through the Switzerland-based exchange, ShapeShift. According to WSJ,… Read more >
Former Pakistan government official, Farhan Junejo, who was arrested by the National Crime Agency (NCA) after the Federal Investigation Agency (FIA) alleged that he had laundered approximately Rs 180 to 250 million, has been released after the FIA failed to… Read more >
New Zealand introduced new amendments to its Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Amendment Act 2017 (Phase 2) in an effort to prevent money laundering, terrorist financing and increase the difficulty for criminals to profit from illicit activities. … Read more >
In the past few years, Ireland’s technology and financial sectors have soared, with the country’s economy and job markets growing as well. However, with the increase in activity also comes an increase in the risk for money laundering. In 2017,… Read more >
An Amsterdam-based bank, ING Group NV, became involved in a U.S. Securities and Exchange Commission (SEC) investigation for having shortcomings in the execution of preventative measures against financial crimes. This includes requirements for client on-boarding, anti-money laundering (AML) regulations, and… Read more >
The SEC charged big pharma company, Sanofi, for violating the FCPA’s books and records and internal accounting controls provisions, and allegedly paying bribes across the Middle East and in Kazakhstan to gain more business opportunities. Sanofi had their sales people… Read more >
Real estate is often used to aid money launderers in the Integration stage of a money laundering scheme. Criminals are able to invest their illicit gains into property, which provides stability in prices that usually appreciate over time and functionality… Read more >
At the Legal System and Cryptocurrency Crime seminar held in Bangkok last month, officials of Thailand’s Anti-Money Laundering Office (AMLO) revealed their plans to create a cryptocurrency wallet that will have the ability to seize digital currencies from criminals accused… Read more >
Robert P. Hoopes, former Lower Southampton Director of Public Safety, has pleaded guilty to one count of conspiracy to commit money laundering and four counts of Hobbs Act extortion. Hoopes is accused of accepting a bribe and extorting business owners… Read more >
Guo Wengui, a Chinese business tycoon, has had his bank accounts frozen by Chinese authorities as part of an ongoing money laundering investigation involving his daughter and son. Guo, who is currently seeking asylum in the US, fled from China… Read more >