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AML

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December 12 2018 The initiative analyses billions of transactions, bringing together payments data from multiple banks to help fraud teams pinpoint potential mule accounts – where people are involved in suspected illegal activities – and see where the money has been siphoned off to. Those behind the scheme said it will...
December 13 2018 According to a local Romanian news outlet Ziar de Cluj and others, Vlad Nistor — the CEO of Romania-based Bitcoin exchange CoinFlux — has been detained on behalf of the US government and is awaiting extradition. He was arrested in the city of Cluj-Napoca on Tuesday, according to...
December 11 2018 The Office of the Commissioner for Voluntary Organisations (OCVO) is unable to ascertain how much money is being raised by NGOs or how it is being used, the National Audit Office (NAO) warned. “The lack of a proper system where details of individuals donating significant amount of cash...
December 4 2018 Last week, the US Department of Justice announced charges against a Venezuelan businessman, Raul Gorrin Belisario, for his suspected role in a billion-dollar corruption scheme. Two other Venezuelans involved, Gabriel Arturo Jimenez Aray and Alejandro Andrade Cedeno, pleaded guilty and provided details of how bribe payments were made and money was laundered. Gorrin owns...
December 5 2018 A fraudster known as The Boss has been jailed for seven years for running an £8.5 million money laundering operation. Wei Han, 36, shopped for designer goods, sent his daughter to a £3,500-a-term private school and drove a £73,000 Bentley from the criminal profits. The Chinese national, below, told the taxman he earned...
December 6 2018 Japan’s efforts to regulate the cryptocurrency industry might have come a little later than needed, as the country has seen nearly 6,000 cases of money laundering involving cryptocurrency so far in 2018. According to an official police document, there have been nearly 6,000 cases of cryptocurrency-based money laundering reported to...