All Financial Crime articles – Page 19
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NewsUK authorities eye crackdown on company formation agents’ laundering
The United Kingdom’s National Crime Agency (NCA) is planning a crackdown on company formation agents in a bid to tackle money laundering.
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NewsLuxembourg government hits back at reports country is haven for money laundering
The Luxembourg government has sought to counter allegations that the country is a haven for money laundering and tax evasion, following a damning report by journalists.
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NewsFounder of $90 million cryptocurrency hedge fund admits securities fraud
A 24-year-old Australian national is facing up to 20 years in prison in the United States (US) after defrauding investors in his cryptocurrency hedge fund out of $90m and then attempting to steal from a second fund.
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NewsUS seizes Iranian oil tanker over alleged terrorist group funding links
The United States has seized an Iranian oil tanker and is seeking a forfeiture order over alleged links to terrorist financing.
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NewsUK Serious Fraud Office loses legal fight to compel foreign business to hand over documents
The United Kingdom’s Serious Fraud Office (SFO) has lost a court battle over whether it has the power to compel foreign businesses to hand over documents held overseas.
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NewsGerman regulator orders Goldman Sachs to comply with AML law
Germany’s financial watchdog has ordered Goldman Sachs to comply with anti-money laundering legislation.
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News50 US banks deceived through shell companies in laundering operation
Police have arrested more than 100 members of a criminal gang accused of laundering €12 million through 50 different U.S. banks.
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BlogBrexit trade agreement fails to replicate financial crime information-sharing
The Trade & Co-operation agreement will see the UK lose access to information but hopefully common sense will prevail, writes Michael Hatchwell
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NewsUAE Central Bank fines 11 banks for AML failures
The Central Bank of the United Arab Emirates (CBUAE) has fined 11 banks for failing to meet a deadline to improve their anti-money laundering (AML) and combatting terrorism financing (CTF) frameworks.
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NewsPhilippines strengthens AML and CTF law to meet FATF deadline
Philippine President Rodrigo Duterte signed a new law to boost the country’s anti money laundering and counter terrorist financing efforts ahead of a key deadline from the Financial Action Task Force (FATF).
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ReportNot enough needles and too much hay: the problem with Suspicious Activity Reports
The FinCEN Files shed a light on a creaking system under which millions of reports of suspicious activity are filed to over-stretched authorities every year. FinCrime Report examines how to make it easier for government agencies to find the useful “needles” in the “haystack” of SAR reports.
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NewsHead of German financial regulator leaves post over Wirecard scandal
Felix Hufeld, the President of the Federal Financial Supervisory Authority (BaFin), will leave his post as part of a reorganisation of the German regulator following the Wirecard scandal.
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Q&AFinCrime Job Focus: Neil Downing, Vice President, Products, TMT Analysis
In our latest reader-submitted Q&A, Neil Downing talks about developing new products in a changing industry
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NewsCryptocurrency crime drops overall but ‘DeFi’ thefts rise, report reveals
Decentralised finance (DeFi) is the “next major threat vector for fraud and money laundering”, accounting for half of crypto thefts in 2020, according to a new report.
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NewsOfficial warns of ‘disturbing’ amount of Russian money laundering in London
A senior UK official has warned about the “disturbing” prevalence of Russian money laundering in London, and said is too easy to set up companies in the United Kingdom.
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NewsAUSTRAC consults on AML/CFT rule changes as part of regulatory overhaul
AUSTRAC has opened a consultation on proposed changes to its anti-money laundering (AML) and counter-terrorism financing (CTF) rules as it seeks to strengthen its approach.
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NewsRUSI argues for national security response to tackle fraud ‘epidemic’
A UK thinktank has called for fraud to be considered a ’national security priority’ backed by a new public-private strategy.
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NewsChina’s clampdown on payment providers is necessary to protect international financial ecosystem
The authorities in China are seeking to expand anti-money laundering supervision of non-bank payment providers and have also stepped up fines. Jose Caldera explains why this is needed.
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NewsThree financial institution staff arrested in UK as concern grows over Covid-19 loan scheme fraud
Three men working for a financial institution have been arrested in the United Kingdom as part of a probe into suspected fraudulent claims totalling £6million made through the Covid-19 Bounce Back Loan Scheme (BBLS)
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NewsSpanish and US authorities ‘dismantle’ group laundering money for South American drug cartels
A criminal network which laundered money and used hitmen to collect cash throughout Spain for South American drug cartels has been “dismantled”, Europol has said.
