Monday, January 18, 2021

Money Laundering

Capital One fined $390 million for breaching U.S. anti-money laundering law

Credit card firm Capital One Financial Corp has been fined $390 million for engaging in what the U.S. government called willful and negligent violations of the Bank Secrecy Act, an anti-money laundering law, a Treasury Department bureau said on...

Australia’s watchdog revise claim of $2.3 billion transfer in Vatican money laundering

Australia’s financial watchdog miscalculated by more than $2.2bn the amount of money transferred from Vatican City to Australia as part of its review into whether bribes were paid to pursue child sex allegations against Cardinal George Pell. Austrac told a Senate...

European Central Bank’s President claims bitcoin enables money laundering

European Central Bank President Christine Lagarde took aim at Bitcoin’s role in facilitating criminal activity, saying the cryptocurrency has been enabling “funny business.” “For those who had assumed that it might turn into a currency -- terribly sorry, but this...

Founder of RG Coins cryptocurrency exchange gets 10 years in prison money laundering

The owner of a cryptocurrency exchange used to launder millions of dollars gained from fake online auctions has been jailed for 10 years. Rossen Iossifov, the Bulgarian owner of RG Coins, was sentenced for his role in laundering criminal proceeds...

Denmark drops money laundering charges against ex-Danske bankers

Danish prosecutors said on Thursday they had dropped charges against six former Danske Bank employees as part of an investigation into the bank’s involvement in one of the world’s biggest money-laundering scandals. Danske Bank is under investigation in several countries,...

Cape Verde court gives clearance to extradite ally of Venezuela’s President Maduro

A court in the African country of Cape Verde ruled that Alex Saab, a Colombian businessman who had been Venezuelan President Nicolás Maduro’s deal maker, can be extradited to the U.S., where he was indicted on charges of laundering...

Bermuda regulator fines Crown Global Life Insurance over anti-money laundering failures

The Bermuda Monetary Authority has fined two life insurers – Crown Global Life Insurance Ltd. and Crown Global Life Insurance (Bermuda) Ltd. – US$400,000 for various anti-money laundering failings. Crown Global Insurance Group LLC offers variable life insurance and annuity...

Ukrainian tycoon Ihor Kolomoisky accused of using misappropriated funds to purchase real estate in the U.S

U.S. prosecutors on Wednesday accused Ukrainian tycoon Ihor Kolomoisky and another Ukrainian businessman of using misappropriated funds to buy real estate in Ohio, following earlier similar U.S. allegations involving property in Kentucky and Texas. Kolomoisky, one of the most prominent...

Vatican, Australian Catholic Church denies knowledge of suspicious $1.8 billion transfers

The Vatican and the Australian Catholic Church have both denied knowledge of transfers worth US$1.8 billion which Australia’s financial watchdog says have been sent from Rome to Australia in the past seven years. “That amount of money and that number...

Morocco arrests human rights activist Maati Monjib over money laundering allegations

Morocco on Tuesday arrested human rights activist Maati Monjib after an investigation over money laundering, a security source said. Monjib, 60, was brought before the attorney general at Rabat's court of first instance, the source at the General Directorate for...

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Samsung heir Jay Lee gets to two years prison sentence for bribery

Samsung Electronics Co. heir Jay Y. Lee was sentenced to 30 months in prison over bribery charges, a dramatic...
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