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Weekly Roundup: China Restricts Overseas Real Estate Purchases, Lithuanian Man Faces Money Laundering Charges in New York, and More Swiss firm finalizes U.S. non-prosecution agreement, Colombia seizes businesses that laundered money for nation's largest paramilitary group, and more, in this week's roundup.
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August 18, 2017
MS-13 Gang Charged with Laundering Illicit Funds Through US Financial Institutions Federal prosecutors in Ohio charged 10 suspected members of international street gang Mara Salvatrucha, or MS-13, with extorting funds and laundering the proceeds through Western Union, MoneyGram, Sigue and other U.S. firms over a 6-year period.
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August 17, 2017
US Lawmakers Scrutinize Foreign Funding Behind Corporate Takeovers: Sources A U.S. government committee tasked with reviewing potential national security threats is increasingly questioning the source of funds behind proposed foreign takeovers of U.S. companies within the last year, attorneys involved in recent negotiations said.
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August 17, 2017
Midweek Roundup: Swedish Lender Under Investigation, US Terror Finance Lawsuit Dismissed, and More Former U.S. Secret Service agent admits laundering money, U.K. government asked to confirm post-Brexit support of efforts against terrorist funding, and more, in the midweek roundup.
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August 16, 2017
Commonwealth
Commonwealth Bank of Australia used "intelligent deposit machines" to accept massive volumes of cash over several years without taking any steps to determine the source of the funds, according to a legal complaint filed by the country's financial intelligence unit. More
Two Sentenced in Identity Theft, Money Laundering Scheme The U.S. Justice Department issued a press release announcing that Latonya Lanette Carson and Smith Olsola Akin were sentenced for charges in connection to a scheme to steal personal identifying information and commit fraud.
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August 17, 2017
DOJ: Lithuanian Man Extradited Following Charges Involving Fraudulent Business Email Scheme The U.S. Justice Department issued a press release announcing that Evaldas Rimasauskas, arrested for orchestrating a fraudulent business email scheme that induced two U.S.-companies to wire millions to his bank accounts, was extradited from Lithuania.
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August 17, 2017
Australia Minister for Justice Announces Proposed AML/CTF Regulatory Reforms Australia’s Minister for Justice Michael Keenan announced proposed reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act and an increase of the powers of the Australian Transactions and Reporting Analysis Centre.
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August 17, 2017
Test Your AML IQ
On Jan. 19, 2017, Western Union agreed to pay the U.S. Justice Department and federal regulators ________ to resolve charges that the institution violated anti-money laundering laws and failed to appropriately monitor 550,000 independent agents.
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From the Editor: In Praise of Transparency and US Inspectors General

June 16, 2017

Funding and staffing for the inspectors general in every federal agency is under attack, despite the invaluable oversight service they perform.

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OFAC Fines Blue Sky Blue Sea, Inc. $518,063 for Possible Sanctions Violations The Office of Foreign Assets Control of the U.S. Treasury Department entered into a settlement agreement with the Los Angeles, CA-based company, doing business as American Export Lines and International Shipping Company (USA) for its potential violation of the Iran sanctions regulations.
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August 17, 2017
Fed: Heartland Bank Must Maintain Adequate Capitalization The Board of Governors of the Federal Reserve System issued a prompt corrective action order against the Little Rock, AK-based bank requiring it to increase equity, enter into a contract to be acquired by another institution or take other necessary means to make the bank adequately capitalized.
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August 15, 2017
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