Saturday, May 21, 2022

Money Laundering

Wells Fargo Advisors fined $7 million as SEC probes failures in money-laundering oversight

Wells Fargo Advisors, a subsidiary of banking giant Wells Fargo & Company, has agreed to pay $7 million to settle charges that it violated federal anti-money laundering statutes by failing to file suspicious activity reports, the U.S. Securities and...

Former Georgia insurance commissioner indicted on federal health care fraud, money laundering charges

A federal grand jury in Atlanta returned an indictment Friday against former State Insurance and Fire Commissioner John Oxendine, accusing him of a scheme to defraud major healthcare providers. The two count indictment accuses Oxendine of conspiracy to commit health care fraud...

US lands top spot as world’s biggest enabler of financial secrecy in new index

The United States is the world’s largest enabler of financial secrecy, surpassing notorious tax havens like Switzerland, the Cayman Islands and Bermuda, according to an analysis by the Tax Justice Network released today. For the first time, the U.S. tops...

Goldman Sachs Officials Reach $79.5 Million Shareholder Settlement Over 1MDB Scandal

Goldman Sachs Group Inc (GS.N) officers and directors reached a $79.5 million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysia's 1MDB sovereign wealth fund. A preliminary settlement...

BitMEX Co-Founders Slapped with $30 Million Fine

The Commodity Futures Trading Commission (CFTC) announced on Thursday that a New York court entered a consent order against all three co-founders of crypto derivatives exchange BitMEX, Arthur Hayes, Benjamin Delo and Samuel Reed. They have been ordered to pay a...

Ex-Dublin Airport cop jailed for money laundering

A former Dublin airport policeman thought to have laundered millions for criminal gangs has been jailed. The National Crime Agency started an investigation into Mark Adams (42) – a former Dublin Airport policeman from Malahide – in May 2018 after he was...

Danske in Settlement Talks With U.S., Denmark on Laundering Case

Danske Bank A/S is in initial talks with U.S. and Denmark authorities on ending a huge money laundering scandal as the lender seeks to a draw a line under one of the most tumultuous periods in its history. Potential fines...

Deutsche Bank HQ searched in money laundering investigation

German authorities have raided Deutsche Bank’s headquarters in Frankfurt over suspected money laundering at the country’s largest lender. Officers from the financial regulator BaFin, the federal police, and the Frankfurt public prosecutor’s office launched a raid on the bank’s glass-panelled...

Premier of British Virgin Islands arrested in Miami on drug trafficking charges

The premier of the British Virgin Islands was arrested in Miami on Thursday and accused of agreeing to help a federal informant posing as a member of the Sinaloa cartel move thousands of kilos of cocaine through his country’s...

Former Prime Minister of North Macedonia convicted of money laundering

North Macedonia's former prime minister Nikola Gruevski has been found guilty of money laundering party funds. The Criminal Court in Skopje ruled that Gruevski had unlawfully acquired over €1.3 million from donations to his party from 2006 to 2012, part...

Latest News

Nigeria’s Accountant General suspended over N80bn fraud

Ahmed Idris, Nigeria’s Accountant General of the Federation, who was on Monday arrested by the Economic and Financial Crimes...