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Latest news related to Anti-Money Laundering.

In 2011, Compliance Complete published a series of articles titled "What's Wrong with Counter-Money Laundering Laws?". The articles promised that the author, Nigel Morris-Cotterill, Head, The Anti Money Laundering Network, would subsequently supply a draft law designed to improve on existing legislation. He has now produced the draft law, which he...
There are very few commercials shot and produced in Nigeria. It’s another way of laundering dollars out of Nigeria. Most of those glorious “Naijablowings”, "Ultimate Gulder Search”, “Star Search”,  etcetera, should be looked into. They have huge budgets but only a fraction is used for the actual competition. It...
The federal government is trying to seize $24 million from a Birmingham car dealership, money that prosecutors say was part of a Hezbollah-controlled money laundering scheme, according to federal court records. World Auto Sales on Green Springs Highway and 29 other dealerships nationwide received millions of dollars in overseas wire...
Gregory H. Whitworth, 45, of Brewton, Ala., was convicted of illegally laundering the proceeds of telemarketing fraud through a Columbus, Ohio, company called Integrated Check Technologies from March 2005 into January 2006. He was sentenced by Chief U. S. District Court Judge William M. Skretny. Under the scheme, victims’ money...
Central Bank of Nigeria (CBN) has kicked off its ‘cashless Lagos’ project, introducing limits on how much paper money people can withdraw and deposit, in a bid to encourage the transition to electronic payment methods. Last year, the central bank set out a range of policies designed to wean the...
Israeli police say they've arrested a number of suspects accused of operating an illegal "shadow bank" based at the Ramat Gan Diamond Exchange in Tel Aviv. Police said the suspects conducted a range of undeclared banking activities and illegally handled around a billion shekels, The Jerusalem Post reported Sunday. "The suspects...