All Money Laundering articles – Page 4
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NewsEx-Ericsson employee charged with bribery
A former account manager for Swedish telecom Ericsson has been charged in the US for his alleged role in paying around $2.1m (€1.78m) in bribes to Djibouti government officials and conspiring to launder funds.
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NewsFourteen charged after ML-linked raids in Ireland
Nineteen people have been arrested and 14 charged so far in an ongoing operation led by Irish police (Garda) targeting organised crime, drug trafficking and associated money laundering centred on the city of Limerick.
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NewsArmenia’s ex-prosecutor general charged with money laundering
The one-time prosecutor general in Armenia, Aghvan Hovsepyan, has been charged with laundering around AMD1.3bn ($2.5m, €2.1m) of money.
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NewsAustrac updates ML/TF risk assessments for banks
Australia’s financial crime watchdog Austrac has released four new money laundering and terrorism financing (ML/TF) risk assessments for the banking sector.
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NewsBritish online gaming operator fined for money laundering failures
The UK’s Gambling Commission has issued a £5.85m ($8.05m, €6.81m) penalty on Daub Alderney after finding anti-money laundering and social responsibility shortcomings.
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NewsAsset recovery among South Korea’s strong points, FATF
South Korea shows a good understanding of money laundering and terrorist financing (TF) risks bolstered by an ongoing risk-assessment process, according to the Financing Action Task Force (FATF).
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NewsNew Zealand bank penalised for breaching AML/CFT rules
The high court in New Zealand has fined the TSB Bank in NZ$3.5m (US$2.45m, €2.08m) for long-lasting breaches of anti-money laundering and countering terrorism financing (AML/CFT) rules.
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NewsFAFT reports identifies room for improvement in Japan’s AML/CFT measures
Japan has a good understanding of the main elements of money laundering and terrorism financing risks, but there are areas where things could be better.
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NewsHong Kong breaks up money-smuggling gang
Customer officials in Hong Kong have arrested five men suspected of laundering about HK$170m (US$21.8m, €18.6m) in the first case customs has detected of an attempt to smuggle money out of the territory by driving over the border.
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NewsUS names three people for financial crimes in South America
The treasury department in the US has sanctioned three Paraguayans for money laundering and import-export offences based in the Tri-Border Area of Paraguay, Argentina and Brazil.
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NewsNew Zealand share trading platform cautioned on AML breaches
The Financial Markets Authority (FMA) in New Zealand has gone public with a formal warning to Sharesies for having insufficient anti-money laundering measures in place.
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NewsUAE establishes specialised money laundering court
Authorities in the UAE have set up a court in Dubai to focus on combating money laundering.
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NewsGlobal AML fines fallen by 50% in 1H 2021
In the first half of 2021, global fines for anti-money laundering and data privacy compliance violations fell by over 50% year on year, but could swiftly rebound as financial crime continues, according to Fenergo.
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NewsForty jailed in UAE for money laundering and fraud
Abu Dhabi Criminal Court has imprisoned 40 men after they conned investors into putting money into a digital trading platform and converting their clients’ funds into a fake digital currency called Foin so the investors could not get their money back.
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NewsMoney laundering fight increasingly goes high tech
The use of artificial intelligence (AI) and machine learning (ML) are gaining serious momentum in anti-money laundering (AML) compliance, according to a survey.
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NewsSendvalu fined for breaking money laundering rules
Malta’s financial regulator FIAU has ordered the island’s subsidiary of Swiss money transfer company Sendvalu to pay €502,000 ($591,000) for failing to comply with money laundering laws.
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NewsAllianz fined for money laundering breaches
The Bermuda Monetary Authority (BMA) has imposed civil penalties totalling US$1.7m (€1.45m) on Allianz Life Bermuda Limited for failing to comply with anti-money laundering, anti-terrorist financing and international sanctions legislation plus “longstanding and persistent breaches” of the Insurance Act. The company is being wound up.
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NewsMoney laundering gang jailed in Saudi Arabia
A Saudi Arabian court has imprisoned four people for 24 years and fined them SAR140m ($37.3m, €31.8m) for illegally transferring more than SAR140m abroad.
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NewsChinese fashion clothing director charged with money laundering
The director of a Chinese company which produces clothes for leading fashion chains has been accused of deceiving the Bank of China (Hong Kong) into issuing letters of credit (L/Cs) worth more than US$5.5m (€4.69m) to a supplier based on fraudulent business transactions.
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NewsUkraine shuts down money laundering cryptocurrency exchanges
The Security Service of Ukraine (SBU) has reportedly closed a network of cryptocurrency exchanges used by more than 1,000 ‘customers’ to launder funds received from Russian electronic payments processors, including Yandex.Money, Qiwi and Webmoney.
