Chinese financial institutions feature prominently among more than a hundred banks recently revealed to have knowingly or unknowingly processed billions of dollars-worth of illicit payments originating from Russia.
Federal officials are investigating four of Nevada's most well-known casinos for potential violations of the Bank Secrecy Act, according to sources familiar with the matter and a regulatory disclosure published Monday.
Bank of China's decision to maintain accounts for individuals belonging to an Islamist terrorist group can be legally linked to the victims of the organization's suicide bombers, according to a federal judge.
The expansion of the casino industry to new states throughout the U.S. increases the likelihood that gaming will grow as a vehicle for money laundering, particularly since the federal agency charged with its oversight is understaffed, according to law enforcement officials and former IRS auditors.
A U.S. federal district judge Wednesday sentenced two former Bank of China managers and their wives to prison for stealing and laundering more than $485 million.
China's central bank fined 12 Chinese financial institutions in the first six months of 2008 for involvement with money laundering, according to a news report.
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