The Treasury Department’s Financial Crimes Enforcement Network imposed new financial reporting rules on 2,000 businesses Thursday in the fashion district of Los Angeles after a massive raid last month uncovered a suspected widespread money laundering operation working for Mexican drug gangs.
Entries in money laundering (72)
A former top official from the Mexican state of Coahuila pleaded guilty in Texas last week to federal money laundering charges.
An American investment advisor based in the Cayman Islands was sentenced by a federal court in Virginia Friday to 30 months in prison for a money-laundering conspiracy, the DOJ and Internal Revenue Service (IRS) said.
Joel Esquenazi and Carlos Rodriguez petitioned the U.S. Supreme Court Thursday to review their convictions on FCPA-related charges for a scheme to bribe officials at Haiti’s state-owned telecom company.
The Department of Justice announced its forfeiture of more than $480 million in corruption proceeds hidden in bank accounts around the world by former Nigerian dictator Sani Abacha and his co-conspirators on Thursday.
The UK's Financial Conduct Authority issued its second anti-money laundering annual report in July, emphasizing obligation to prevent financial crime and enhance AML systems and controls in specific ways.
Hong Kong's securities regulator has reprimanded Ping An of China Securities (Hong Kong) and fined it HK$6 million (US$774,189) over what it called "serious internal control deficiencies" for anti-money laundering and other matters at the company.
Singapore has tripled the size of its white-collar crime police unit to deal with more suspicious transaction reports and aid requests from overseas enforcement agencies, the city-state's Commercial Affairs Department said in its annual report last week.
Japan has not done enough to combat money laundering, an international watchdog said on Friday, urging the government to adopt measures such as legislation that criminalizes terrorist financing.
A former director of Asia Ceramic Marketing Sdn Bhd, Lim Long Yew, was sentenced to a total of 1,942 years in jail and fined $494,000 on 481 counts of money laundering and illegal deposit-taking last week in Malaysia.