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AML News

Latest news related to Anti-Money Laundering.

Almost all reports related to transactions indicating money-laundering activities originate from financial service providers. The compliance divisions of banks spend a great deal of time and effort on implementing the various regulations and discovering risk-based approaches related to the detection and avoidance of money laundering, the financing of terrorism and...
Update (07 Aug 2013): It appears from the final disposition of United States of America vs All Assets of Lebanese Canadian Bank et all, including Mansour Bros Trading Inc. in Tampa Fl that they, Mansour Bros, were not so involved with Hizballah and support of terrorism through the shipment of...
Two men from British Columbia’s Fraser Valley have been convicted of fraud charges in connection with a series of scams that defrauded the federal government of millions in GST refunds. A B.C. Supreme Court judge delivered her decision in New Westminster Thursday morning. Sikander Singh Bath, of Mission, and Manjit Singh...
The Somerset County Prosecutor's office announced Friday that Robert E. Titus Jr., one of four defendants accused of defrauding $2.1 million from the Bernards Township School system while performing projects through Aramark Corp. between 2003-08, entered pleas of guilty to related charges in State Superior Court. Titus, 54, of Jackson, pleaded guilty...
More than two dozen U.S. car dealerships were allegedly involved in an international half-billion-dollar money laundering scheme for Lebanon-based Hezbollah, a group considered a terrorist organization by the U.S. government, federal officials said. Federal agents served restraining orders and grilled employees at as many as 30 used car dealerships around...
IF the Bureau of Internal Revenue (BIR) had its way, tax evasion would be among the “predicate crimes” punishable under the Anti-Money Laundering Act (Amla), alongside kidnapping for ransom, plunder and drug trafficking and others. In a position paper submitted to the Senate Sub-committee on Anti-Money Laundering, the BIR said...