money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

Bribery Probe Adds to TD Bank’s Legal Headaches
Bribery Probe Adds to TD Bank’s Legal Headaches
June 04, 2024  |  Bank Regulation

Toronto-Dominion (TD) Bank’s legal problems are growing with reported bribery allegations against a Florida banker. That ex-employee, Gerry Aquino Vargas, is accused of taking multiple...

READ MORE >
Treasury: NFTs ‘Highly Susceptible’ to Fraud and Scams
Treasury: NFTs ‘Highly Susceptible’ to Fraud and Scams
May 30, 2024  |  Cryptocurrency

The Treasury Department has a warning for NFT fans: use them at your own risk. The department released an assessment Wednesday (May 29) finding that non-fungible tokens (NFTs) —...

READ MORE >
Treasury Department to Use ‘Automation and Innovation’ to Fight Illicit Finance
Treasury Department to Use ‘Automation and Innovation’ to Fight Illicit Finance
May 16, 2024  |  AML

The Department of the Treasury has outlined the priorities it will pursue this year to step up the fight against illicit finance. The agency aims to...

READ MORE >
DOJ Charges 2 Brothers With ‘Cutting-Edge Scheme’ to Steal Cryptocurrency
DOJ Charges 2 Brothers With ‘Cutting-Edge Scheme’ to Steal Cryptocurrency
May 15, 2024  |  Cryptocurrency

The Department of Justice (DOJ) announced the unsealing of an indictment Wednesday (May 15) charging two brothers with crimes resulting from an alleged “cutting-edge scheme” in which they...

READ MORE >
Venezuelan Opposition Politician Warns of Crypto Use for Money Laundering
Venezuelan Opposition Politician Warns of Crypto Use for Money Laundering
April 29, 2024  |  Cryptocurrency

Venezuela is reportedly expected to increase its use of cryptocurrency when the United States reimposes oil sanctions on the country beginning June 1. A Venezuelan opposition...

READ MORE >
DOJ: Ex-Binance Head Deserves 3 Years in Prison
DOJ: Ex-Binance Head Deserves 3 Years in Prison
April 24, 2024  |  Cryptocurrency

Federal prosecutors want former Binance CEO Changpeng Zhao to spend three years in prison. The one-time head of the world’s largest cryptocurrency platform deserves this sentence, the Department...

READ MORE >
Commerzbank Fined for Money Laundering Compliance Failure
Commerzbank Fined for Money Laundering Compliance Failure
April 22, 2024  |  AML

A German financial regulator has reportedly fined Commerzbank $1.5 million for anti-money laundering violations. BaFin said Monday (April 11) that the bank failed to update customer data on time and...

READ MORE >
Escaped Binance Exec Reportedly Located in Kenya
Escaped Binance Exec Reportedly Located in Kenya
April 22, 2024  |  Cryptocurrency

A Binance executive who fled Nigerian custody last month has reportedly been found in Kenya. Nadeem Anjarwalla, a British-Kenyan who is the cryptocurrency giant’s regional manager for...

READ MORE >
Air Travelers Help Fuel $2 Trillion Global Money Laundering System
Air Travelers Help Fuel $2 Trillion Global Money Laundering System
April 21, 2024  |  Security & Fraud

Each year, money launders funnel $2 trillion in ill-gotten gains into the financial system. And a lot of that money travels by air, in cash,...

READ MORE >