Recently, Brazil’s state energy company, Petrobras, was investigated by the Department of Justice (DOJ) and the Securities Exchange Commision (SEC) for FCPA violations related to political bribes in Brazil. According to the SEC’s Steven Peikin, Petrobras fraudulently facilitated money through… 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 >
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 >
Zanzibar, which is known for being a haven for money launderers, has introduced a new anti-money laundering (AML) law that requires anyone moving more than USD $10,000 out of the country to first state their intentions with the Tanzanian Revenue… Read more >
Understanding Blockchain technology and the encrypted information within it could potentially help regulators find the powerhouses behind money laundering, trafficking, and terrorism. Illicit activities can be pursued through cryptocurrency transactions involving Bitcoin, Ether, and other digital currencies, and blockchain technology… Read more >
With the implementation of the European Union’s (EU) Fourth Anti-Money Laundering Directive (AMLD4), which included an emphasis on enhanced customer due diligence (CDD), an inclusion of the gambling sector, and enhanced risk-based approach technology, all member states were required to… Read more >
Lindsay Columbo: How did due diligence become so complicated? By Lindsay Columbo | Thursday, July 19, 2018 at 7:28AM
The European Union’s (EU) Fifth Anti-Money Laundering (AMLD5) became binding recently on Monday, July 9 and even after two years of reforming the anti-money laundering (AML) provisions and regulations, the new directive still faces weaknesses and limitations in preventing illicit… Read more >
Credit Suisse Group AG settled with the Department of Justice (DOJ) on $76.7 million Foreign Corrupt Practices Act (FCPA) offenses. According to the DOJ, Credit Suisse was involved in a hiring scheme that favored friends and family of Chinese officials… Read more >
A bribery scheme beginning in 2005 and operating up until 2016 was finally shut down by a Federal Judge in Miami, Florida. An official of Aruba’s state-owned telecomms company was sentenced to prison for three years for moving bribe money… Read more >