Former Spanish King, Juan Carlos has been accused by his ex-mistress, Corinna zu Sayn-Wittgenstein of money laundering and using her name to purchase property in Morocco. The scandal broke out after two websites published Sayn-Wittgenstein’s recordings where she claimed Carlos secretly… Read more >
Georgian resident, John Thomas Oiler, has been charged for helping ex-Pennsylvania narcotics officer, Timothy Riley, launder more than $800,000 worth of stolen funds from a marijuana drug trafficking ring in 2014. In March 2018, Riley pled guilty to the charges… Read more >
A condo unit at Porsche Design Tower in Sunny Isles Beach is being seized by federal officials for its alleged involvement in a $1 billion money laundering case. Prosecutors believe that the scheme originated from Venezuela’s state-run oil company, PDVSA,… Read more >
Bill Prew, INDOS Financial Limited founder and CEO, believes that the AIFMD depositary fulfils a utility function of benefit to the whole financial community, policing funds from many angles on a daily basis, and alerting administrators, managers, fund boards and… Read more >
The United States is investigating a money laundering scheme involving Venezuelan President, Nicolás Maduro, who allegedly laundered €160 million through a Maltese investment firm. According to the criminal complaint filed by Homeland Security, Maduro’s stepsons are also believed to have… Read more >
Money laundering has been an issue for quite some time and even with advancement in technology over recent years such as the introduction of cryptocurrencies, like Bitcoin, money laundering still continues to be a prevalent issue every year, with 2018… Read more >
A year after Deutsche Bank, Germany’s biggest lender, was fined $700 million for money laundering, recent confidential reviews that the bank conducted internally on June 5th and July 9th revealed deficiencies in its initial know-your-customer (KYC) screening procedures and its… Read more >
The former Prime Minister of Malaysia, Najib Razak, was recently charged with three counts of money laundering involving billions of dollars that were stolen from a government sovereign wealth fund. Najib took about $10 million from a unit of 1MBD… 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 >