A Panamanian court has found former President Ricardo Martinelli guilty of money laundering, judicial authorities said Tuesday, which could threaten the politician’s bid to run for the presidency next year.
The court also imposed a $19.2 million fine on Martinelli, according to a statement by judicial authorities.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
Website Alert – Fraudulent website related to Bank Julius Baer & Co. Ltd.
HKMA
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank Julius Baer & Co. Ltd. relating to a fraudulent website, which has been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.
AFP and international partners seize more than 39 tonnes of illicit drugs
Australia Federal Police
The AFP has helped prevent more than 39 tonnes of illicit drugs being trafficked throughout the world, including more than 4.2 tonnes in Pacific Island nations, during the past financial year.
Joint operations and investigations by the AFP and its international law enforcement partners during the 2023-24 financial year have led to billions of dollars' worth of illicit drugs being seized – including cocaine, heroin and methamphetamine – which were directly or indirectly prevented from infiltrating Australian communities.
AUSTRAC takes Ladbrokes and Neds’ operator – Entain – to Federal Court over serious non-compliance with Australia’s money laundering laws
Austrac
Today, AUSTRAC commenced civil penalty proceedings in the Federal Court against Entain Group Pty Ltd (Entain), which operates online betting sites including Ladbrokes, Neds and other online betting brands. The proceedings allege serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws.
AUSTRAC CEO Brendan Thomas said the agency considers there were systemic failures in Entain’s approach to its AML/CTF obligations.
“AUSTRAC’s proceedings allege that Entain did not develop and maintain a compliant anti-money laundering program and failed to identify and assess the risks it faced. We are alleging this left the company at serious risk of criminal exploitation.