Friday, December 9, 2022

AML

HSBC Malta slapped with €82,000 fine by money laundering watchdog

The Financial Intelligence Analysis Unit (FIAU) has fined HSBC €82,000 for violating local anti-money-laundering laws. In an online notice, the FIAU explained that the bank failed to document the justification for a €2 million transaction by one of its clients. While...

Barclays to Handover Tainted £54 Million to UK Crime Agency

Barclays Plc’s UK unit must hand over about $54 million it suspects has links to crime or money laundering to the National Crime Agency, a London court ruled. The Friday decision came after the NCA’s request to recover the money....

Australia’s Crown Resorts fined $77 million by regulators

Australian casino operator Crown Resorts has been fined A$120 million ($77.3 million) for serious misconduct, regulators of the state of Victoria said on Monday. The breaches by Crown, which was acquired by private equity firm Blackstone Inc for $6.3 billion,...

German police raid banks in money laundering probe of Russian

Police raided two branches of Swiss bank UBS in Germany in connection with alleged money laundering by a Russian businessman, German officials and media said Tuesday. Frankfurt prosecutor Georg Ungefuk did not identify the suspect by name, but said the...

Nigerian Instagram celebrity ‘Hushpuppi’ gets 11 years in prison for money laundering conspiracy

A Nigerian social media influencer who called himself Ray Hushpuppi and flaunted a lavish lifestyle fueled by his efforts to launder millions of stolen dollars was sentenced Monday in Los Angeles to more than 11 years in federal prison. Ramon...

Grant Thornton managing partner charged with money laundering involving RM115 million

Grant Thornton Malaysia's managing partner  Datuk C R Narendrakumar was brought to the Sessions Court here on Thursday and charged with money laundering involving RM115 million, allegedly committed four years ago. Narendrakumar, 72, pleaded not guilty to the charge before...

Pilatus Bank officials escape prosecution in exchange for testimony

At least two former Pilatus Bank officials will not be prosecuted despite a magistrate’s order, after Attorney General Victoria Buttigieg issued a nolle prosequi. MaltaToday understands that the decision not to prosecute could be part of a deal requiring the...

Danske Bank Prepares to Pay $2B in Money-laundering Fines

Danske Bank (DANSKE.CO) on Thursday booked a 14 billion Danish crown ($1.89 billion) provision, edging closer to a long-awaited settlement with authorities over its involvement in one of the world's biggest money laundering scandals. Denmark's biggest lender had said it...

FCA fines Gatehouse Bank £1.5m for poor anti-money laundering checks

Between June 2014 and July 2017 Gatehouse failed to conduct sufficient checks on its customers based in countries with a higher risk of money laundering and terrorist financing. Gatehouse also failed to undertake the correct checks when some of...

Attorney Juan Manuel Álvarez Inzunza gets over 15 years for laundering Mexican cartel’s millions

An attorney who laundered millions of dollars for the violent Mexican drug cartel led by “El Chapo” Guzman was sentenced to 15 years and eight months in federal prison on a money-laundering conspiracy charge. Juan Manuel Álvarez Inzunza, 40, received...

Latest News

Former President of El Salvador Sanchez Ceren accused of money laundering is seized

The Attorney General's Office of El Salvador (FGR) has seized a property, three vehicles and has immobilized two bank...