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Entries in money laundering (102)

Thursday
Jul022015

Four charged with smuggling 40,000 counterfeit Apple and Sony products

Four foreign nationals were arraigned in federal court Wednesday in Newark, New Jersey on charges of smuggling counterfeit Sony Camcorders and Apple iPhones, iPads, and iPods from China for sale in the United States.

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Tuesday
Jun302015

Former senior Qualcomm exec jailed 18 months for insider trading, money laundering, obstruction

Jing Wang, the former president of global business operations for Qualcomm Inc., was sentenced Friday to 18 months in prison and fined $500,000 for his role in a three-year insider trading scheme and cover up.

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Wednesday
Jun242015

Joseph Spinelli: Risk assessments should be functional and geographical

In our 2015 ABC Report, Kroll asked respondents to identify what they considered to be the type of corrupt behavior the chief compliance officer must guard against.

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Wednesday
Jun032015

FinCEN: Compliance officer banned for life after Yemen money transfers

The Financial Crimes Enforcement Network (FinCEN) Tuesday fined a money transfer business based in Hamtramck, Michigan and its owner for processing millions of dollars in wire transfers to Yemen without any due diligence on those involved.

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Thursday
May072015

Ripple Labs becomes first virtual money exchange fined by FinCEN

Image courtesy of RippleThe Treasury Department's Financial Crimes Enforcement Network (FinCEN) fined Silicon Valley star Ripple Labs $700,000 Tuesday for selling its virtual currency without registering with FinCEN and for not having an anti-money laundering program.

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Thursday
Apr302015

UK Supreme Court: When is money laundering its own crime?

The circumstances in which a money laundering offense may also constitute a substantive criminal offense was the subject of a UK Supreme Court decision last week.

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Thursday
Apr232015

Banks and opaque offshore structures: UK Privy Council weighs in

Last month the UK Privy Council delivered an important decision on the extent to which a bank is obliged to make inquiries into the underlying commercial purpose of offshore financial arrangements.

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Tuesday
Apr072015

Banks can de-risk and still make money

Regulators are tightening their grip on anti-money laundering compliance. As a result, banks and other financial institutions have begun to re-examine the ways in which they address risk in their operations. Historically, they have done do by taking drastic measures -- exited business lines or cutting ties with business partners.

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Wednesday
Mar252015

Has Putin perverted Interpol?

Red Notices from Interpol's website (click to enlarge)Interpol -- the International Criminal Police Organization -- isn't a police force. It's an information clearing house that promotes international police cooperation.

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Thursday
Mar192015

U.S. indicts alleged corrupt China official and wife for money laundering, visa fraud

The ex-wife of a former Chinese official was arrested Tuesday in Newcastle, Washington on charges that she and her former husband laundered money to buy property in Washington state and lied to obtain U.S. visas through the immigrant investor program.

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