Money Laundering
28th November 2018
AP — Mexican drug lord Joaquin “El Chapo” Guzman was so rich, he had a private zoo where big cats roamed. So rich, he bought a $10 million beach house. And so rich, he traveled to Switzerland for an anti-aging treatment. Guzman’s excesses were detailed at… Read More
28th November 2018
A longtime favorite vehicle for money launderers, real estate as a means of hiding illicit proceeds has gained renewed attention by regulators and legislators throughout the world. Real estate was an $8.5 trillion market in 2017, which warrants regulatory scrutiny and enhanced transparency for an industry exposed to the downstream… Read More
27th November 2018
A 27-year-old woman is facing up to 20 years in jail over defrauding a number of financial institutions, and then laundering and transferring the proceeds to support blacklisted terror group the Islamic State of Iraq and al-Sham (ISIS). Authorities allege that American resident Zoobia Shahnaz engaged in a bank fraud… Read More
27th November 2018
Authorities have frozen a number of assets linked to a Belgian criminal who used a Spanish restaurant to launder illicit proceeds and then invest the money in real estate. The man, who was part of an organised crime group, had been wanted by Belgian police after allegedly committing over… Read More
27th November 2018
Joaquin “El Chapo” Guzman was “the boss” of Mexico’s Sinaloa Cartel, a witness told jurors in the accused Mexican drug lord’s trial in Brooklyn federal court on Monday, contradicting the claim by Guzman’s lawyers that his dominance of the drug trade was a myth. Miguel Angel Martinez, who described himself… Read More
26th November 2018
An air steward has been jailed for 12 months after being caught trying to smuggle £150,000 criminal cash out of the UK. The 37-year-old man was due to fly on a Malaysia Airlines flight from London to Kuala Lumpur when he was stopped. After scanning his bags, security staff at… Read More
23rd November 2018
The European Union’s new rules aimed at strengthening its financial crime regime have been published in the Official Journal of the EU (OJEU). Dubbed the Sixth Anti Money Laundering Directive (6AMLD), the regulations complement the criminal law aspects of the EU Fifth Anti-Money Laundering Directive (5AMLD), which was formally adopted… Read More
23rd November 2018
Amsterdam detectives have arrested a 24-year-old man on suspicion of money laundering after they found €350,000 inside a washing machine at a house in New West. According to the municipal administration, no one lived at the house, said the police, who were conducting checks for unregistered residents when they came… Read More
22nd November 2018
A key figure in the $234 billion Danske Bank money laundering affair has hit out at the United Kingdom, highlighting the role of British company structures in what is considered to be the ‘biggest scandal in Europe.’ Whistleblower and former Danske employee Howard Wilkinson reportedly told European Union… Read More
22nd November 2018
AP – A French banker on trial for money-laundering in Greece over arms procurements went missing from home arrest on Tuesday after breaking his electronic tag, the Greek justice ministry said. Jean Claude Oswald, who is among defendants facing charges related to kickbacks paid for the acquisition of submarines by… Read More