Federal authorities in the US are hunting a scam artist who allegedly sold luxury vehicles online to car dealership owners who never received them, and laundered thousands of dollars through a Cincinnati casino. Ismail Shalash sold vehicles to dealerships across […]
The way in which we interact with our banks has changed significantly over the past decade. Financial Technology firms (FinTechs) have enabled greater flexibility, not only in our choice of banking provider, but also in terms of how we access […]
Financial sanctions are an important tool in the global fight against financial crime. Governments around the world use sanctions to restrict and prohibit trade with foreign targets as a means to achieve political objectives or punish violations of international law […]
White collar ‘gatekeepers’ such as accountants, real estate agents and lawyers are helping criminals launder billions of dollars, much of it through the housing market, the Australian Criminal Intelligence Commission (ACIC) has warned. ACIC deputy chief executive Matthew Rippon told a Senate […]
New sanctions against ransomware operators and crypto exchanges, along with the seizure of $6.1m in funds tied to ransom payments, have marked an escalation in the US government’s crackdown on hackers and anti-money laundering. The US Department of the Treasury announced a […]
New guidance issued by the Financial Crimes Enforcement Network (FinCEN), the Financial Intelligence Unit (FIU) of the United States, tackles the convergence of ransomware, cryptocurrencies, money laundering, and terrorist financing. The Financial Trend Analysis focuses on patterns and trends in […]
The US Office of Foreign Assets Control (OFAC) has sanctioned four Mexican nationals, accusing them of trafficking fentanyl and other illegal substances into the US on behalf of one of Mexico’s most dangerous criminal organizations. Aldrin Miguel Jarquin Jarquin, Jose […]
A thousand police and special forces officers carried out raids across Germany this week targeting an international network suspected of laundering more than 140m EUR from criminal activities and financing terror activities in Syria. Officers raided businesses and homes at […]
More than 100 people have been arrested, many on the Spanish island of Tenerife, over allegations of money laundering, online scams, and violence. Italian and Spanish officials say the suspects made millions by tricking victims – mostly Italian nationals – […]
This report will explore the state of financial crime in 2021 so far across three key areas:
Geopolitics and sanctions
Regional regulatory trends
The regulation of cryptocurrencies and innovation in decentralized finance (DeFi)
A Nigerian national living in Oklahoma has been sentenced to four years in prison for operating a money-laundering network that defrauded elderly Americans to the tune of at least $2.5m. Between 2017-2019, Afeez Adebara used online dating websites and social […]
A man from Sewell, New Jersey, has been sentenced to one year in prison and two years of supervised release for filing false currency reports and helping to defraud a wholesale produce market in Philadelphia. According to the US Attorney’s […]
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