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The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Aegis Capital Corp. $950,000 for improperly selling unregistered penny stocks and for related supervisory failures, and for failing to implement anti-money laundering (AML) policies and procedures. Aegis is also required to retain an independent consultant to review...
Global Witness produced the images that follow, very recently. I reproduce them with their permission. They’re powerful for one good reason. They’re just what happens. Crime is as easy as they portray. The question is,  which politicians are willing to stand up and change this?
The following examples of money laundering investigations are written from public record documents on file in the court records in the judicial district in which the cases were prosecuted. Dallas Lawyer Sentenced for Money Laundering On September 26, 2013, in Dallas, Texas, Patrick Robert Simon was sentenced to 24 months in...
Former Egyptian first lady Suzanne Mubarak is accused of money laundering and other financial corruption accusations by the Swiss General Prosecutor, who said she withdrew $191 million from the Women for Peace Foundation she started in Geneva after the ousting of her family’s regime last February. The Swiss federal investigators...
CRIMINALS are increasingly using “money mules” to launder cash through bank accounts, new research has revealed. Often those who get involved are innocently lured into the practice without realising they are being duped by criminals to pay money into their personal accounts and transfer it on, allowing illegal gains to...
Record-breaking fines issued by regulators worldwide, notably in the US and UK, dominated the financial services landscape in 2012. This looks set to continue in 2013 if regulators identify further failings in firms’ compliance with money laundering, sanctions and tax requirements. Cultural changes towards compliance-driven objectives should be a...