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AML

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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...
September 2 2017 Mauricio Vargas is no stranger to drug deals or dirty money. His arrest in late August after police detectives said they found over half a million dollars in drug cash inside his Jeep was not his first run-in with the law. According to the Miami Herald, Vargas...
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...
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...
 Preamble In India, there had been laws and regulations for quite some time to address certain aspects of money laundering prevention, like Criminal Law Amendment Ordinance 1944 for attachment of proceeds of certain crimes or Reserve Bank of India (RBI) instructions regarding identification requirements for opening of the bank accounts....
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...