Weekly Roundup: White House Wants FinCEN Budget Boost, Wirecard Fugitive Tied to New Alleged Fraud Scheme, and More

The White House plans to allocate an additional $64 million to the Financial Crimes Enforcement Network for fiscal year 2022 to build a database of beneficial owners. More Jan Marsalek, Wirecard's fugitive former chief operating officer, advocated for the German payment processor's potentially inflated €340 million acquisition of several small Indian companies from an opaque Mauritian entity possibly linked to his confidante, British entrepreneur Henry O'Sullivan, the Financial Times reported. More FinCEN and federal regulatory agencies asked the financial services industry for feedback on the extent to which model risk management facilitates compliance with anti-money laundering rules and sanctions, ACAMS...