Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AML, Financial Crime, Fraud, Gaming, News, US

NEWS: Chinese narcotics gangs are laundering dirty cash through U.S. casinos, warns IRS-CI Chief Guy Ficco

Premium October 21, 2024

IRS-CI Chief Guy Ficco delivers his keynote address at the International Anti-Financial Crime Summit 2024 (IAFCS2024) in London

Premium

NEWS: Israel strikes Al Qard Al Hassan banks, saying institution is Iran, Hezbollah linked

 Premium

INSIGHT: U.S. banks say proposed new rules won’t change ‘tick the box’ approach to AML

NEWS: Ireland, UAE sign extradition agreement to fight organized crime; move signals hope for other EU states

BY PAUL O’DONOGHUE, Senior Correspondent

Gangs are using Chinese nationals based in the U.S. to launder illicit finance through the likes of casinos.

That’s according to IRS Criminal Investigation Chief Guy Ficco, who told the International Anti-Financial Crime Summit 2024 that criminal organizations are looking for ways around sanctions.

AML Intelligence
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!

View subscription optionsIf you have an account, log in
Premium

NEWS: Israel strikes Al Qard Al Hassan banks, saying institution is Iran, Hezbollah linked

 Premium

INSIGHT: U.S. banks say proposed new rules won’t change ‘tick the box’ approach to AML

NEWS: Ireland, UAE sign extradition agreement to fight organized crime; move signals hope for other EU states

Regulatory Watch News

  • Atlanta Attorney Pleads Guilty in Syndicated Conservation Easement Tax Scheme

    US Department of Justice

    Attorney is 12th Individual Convicted in Scheme Involving Sale of Over $1.3B in Fraudulent Tax Deductions
    A Georgia man pleaded guilty last week to obstructing the IRS related to his participation in the promotion of abusive syndicated conservation easement tax shelters. According to court documents and statements made in court, Vi Bui was an attorney and partner at Sinnott & Co., an Atlanta-based company. Beginning in at least in 2012 and continuing through at least May 2020, Bui participated in a scheme to defraud the IRS by organizing, marketing, implementing and selling illegal syndicated conservation easement tax shelters created and organized by Jack Fisher, Sinnott and others. For their involvement in the scheme, Fisher and Sinnott were convicted at trial and in January sentenced to 25 and 23 years in prison, respectively.

  • OFSI Counter-Terrorism Guidance and Delegation Frameworks update

    OFSI

    On 21 October 2024 OFSI updated its Counter-Terrorism guidance to reflect changes to sanctions legislation introduced through The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2024, which was laid in Parliament on 15 May 2024. Specifically, the guidance has been updated to reflect the following changes:

    • New director disqualification measures under regulation 5 for the purposes of reg 16A of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019
    These director disqualification measures came into force on 5 June 2024.

  • FATF Week – October 2024

    FATF

    The first Financial Action Task Force (FATF) Plenary under the two-year Mexico Presidency of Elisa de Anda Madrazo will take place on 23-25 October and will conclude FATF Week which starts on 21 October. Delegates representing over 200 members of the Global Network and observer organisations, including the International Monetary Fund, the United Nations, the World Bank, INTERPOL and the Egmont Group of Financial Intelligence Units, will participate in the Working Group and Plenary meetings in Paris during FATF Week.

Sign Up To Our Newsletter

Categories

Archived articles

Contact Us