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There has been modest success in a decades-long effort to minimize the exploitation of gold. In many instances, money launderers have successfully transferred illicit proceeds through gold by simply tweaking its reported value in customs documents and other records.
The U.S. Treasury Department lifted sanctions Thursday on over 300 individuals and companies linked to a now-defunct Colombian drug trafficking organization known for investing in legitimate businesses and reportedly captive banks.
U.K. leaders intend to review whether facilitation should be legal again, CFATF warns countries about the risks of Belize, Guyana and Dominica, and more, in this week's news roundup.
It can be a rare but difficult moral dilemma for bank compliance officers: what to do when you know that a client wants to wire a ransom payment to kidnappers, a transaction that technically abets a crime.
An intergovernmental group has launched a program to help 16 sub-Saharan African countries tamp down money laundering and terrorist financing through the diamond and gold trade.
A former Panamanian president is under house arrest for money laundering and the United States continues its efforts to extradite Colombians tied to a massive Ponzi scheme, in this week's news roundup.
Spanish authorities cracked a major gold-based money laundering scheme by a group of jewelers. Experts say the jewelry and precious metals industries lack controls to prevent laundering.
