Wednesday, August 10, 2022

Money Laundering

US sanctions cryptocurrency service allegedly used by North Korea for money laundering

The US Treasury on Monday sanctioned Tornado Cash, a virtual currency mixer, for its use by cybercriminals, including those under US sanctions. According to a senior Treasury official, Tornado Cash has reportedly laundered more than $7 billion in virtual currency...

Former Southern professor sentenced for money laundering scheme after decade on the run

A former Southern University associate professor who fled the U.S. in 2011 to evade charges of mail fraud and money laundering that cost the school $157,366 was sentenced Thursday to two years in federal prison, the U.S. Justice Department...

Mexico’s attorney general investigating ex-president Enrique Nieto

Mexico’s Attorney General’s Office said Tuesday that it has opened several lines of investigation against former President Enrique Peña Nieto, several weeks after the country’s anti-money laundering agency accused the former leader of handling millions of dollars in possibly...

Robinhood Crypto Fined $30 Million Over Alleged Violations Of Anti-Money Laundering Rules

Robinhood Crypto, the cryptocurrency arm of Robinhood, has been fined a whopping $30 million by the New York Department of Financial Services (NYDFS) for allegedly violating anti-money laundering (AML), cybersecurity and consumer protection laws. In a statement Tuesday, Adrienne Harris, the superintendent...

ED arrests Shiv Sena MP Sanjay Raut in money laundering case

The Enforcement Directorate (ED) has arrested Shiv Sena MP Sanjay Raut in a money laundering case linked to alleged irregularities in the redevelopment of a Mumbai 'chawl', officials said. Raut, 60, was arrested after over six hours of questioning at...

German city to shut all betting shops amid money laundering allegations

The northern German city of Bremen is planning to shut down all of its betting shops after the interior senator said their owners had failed to convince him that they were not fronts for money laundering. Bremen, Germany’s smallest city-state,...

Pakistan court summons PM Shehbaz Sharif, son Hamza in money laundering case

A Lahore-based special court summoned Pakistan Prime Minister Shehbaz Sharif and his son Hamza Shehbaz in connection with a 16-billion-rupee money laundering case against them. The court summoned the father-son duo to appear on September 7 for the framing of...

Money Laundering Seen a High Risk Threat for South African Banks

South Africa’s banking regulator said there is a high risk of money laundering and terrorist financing activity in the industry, citing the extensive use of cash and exposure to overseas lenders. The Prudential Authority of the South African Reserve Bank in a...

Deutsche Bank Settles Money-Laundering Case for $7.1 Million

Deutsche Bank AG settled a probe by Frankfurt prosecutors looking into whether the bank violated money-laundering prevention rules for 7.01 million euros ($7.1 million). The bank agreed to pay the amount and accepted an administrative penalty notice, the lender said in...

UAE detains U.S. lawyer for Khashoggi on money laundering charges

United Arab Emirates authorities have detained Asim Ghafoor, a U.S. citizen and civil rights attorney who previously served as a lawyer for slain journalist Jamal Khashoggi, said U.S.-based rights group DAWN of whose board Ghafoor is a member. A UAE...

Latest News

US sanctions cryptocurrency service allegedly used by North Korea for money laundering

The US Treasury on Monday sanctioned Tornado Cash, a virtual currency mixer, for its use by cybercriminals, including those...