Category: Analysis

Page 3/15

Premium

LATEST: FCA finds ‘most’ banks do not subject PEPs to excessive checks, no bank would deny them an account – but room to improve

Premium

NEWS: FinCEN tells small businesses why larger firms are exempt from filing beneficial ownership information

Premium

INSIGHT: Nordea’s Danish headache could end up costing Finnish lender as much as $1 Billion; bank has only provisioned €95M

Premium

INSIGHT: ANZ’s chief Elliott wants to standardise AFC, KYC processes across region to cut costs

Premium

INSIGHT: How all 35 countries scored in FATF ‘financial gatekeepers’ survey that’s divided global opinion

Premium

INSIGHT: Establishment of Germany’s new AML super agency blocked by ‘political wrangling’

Premium

INSIGHT: ‘He thought his assets were safe!’ – German and Italian FIUs help seize mafia gaming cash

Premium

INSIGHT: Overhaul ‘ineffective’ STRs as 95% do not lead to prosecutions – Wolfsberg Group

Premium

NEWS: New FinCEN rule would prevent US banks from outsourcing AML programs overseas

Premium

EXPLAINED: Here’s are the key AMLA milestones banks need to know

Premium

INSIGHT: Here are some of the AMLA’s most eye-catching powers banks need to know

Premium

LATEST: EU publishes new AML laws to come into effect next month, including criteria for direct supervision of 40 banks

...

Head of Commercial Real Estate Investment Firm Sentenced to 87 Months for $62.8M Investment Fraud Scheme
US Department of Justice
May 20, 2025
A New York man was sentenced yesterday in the Northern District of Georgia to 87 months in prison and ordered to pay over $45 million in restitution for his role in a scheme to defraud investors in connection with commercial real estate investments in Atlanta, Georgia and Miami, Florida.

According to court documents, beginning in May 2022, Elchonon “Elie” Schwartz, 46, of New York City, engaged in a scheme to defraud commercial real estate investors that invested through the crowdfunding investment website, CrowdStreet Marketplace.
Surrey bookkeeper cooked the books and underreported almost $1 million in GST/HST
FINTRAC
May 20, 2025
The Canada Revenue Agency (CRA) announced that Aeddy Leung of Surrey, British Columbia, received a conditional sentence order for two years less a day and two years probation on April 15, 2025, at the Provincial Court of British Columbia (Robson Square). Leung pleaded guilty to willfully evading remittance tax and to making false statements in Goods and Services Tax (GST)/Harmonized Sales Tax (HST) returns.
People smuggler who organised Mediterranean crossings on ‘death trap’ boats threatened to throw migrants in the sea
National Crime Agency
May 20, 2025
A man arrested by the National Crime Agency for masterminding the smuggling of thousands of people across the Mediterranean from north Africa into Europe has been jailed for 25 years. 42-year-old Egyptian national Ahmed Ramadan Mohamad Ebid was detained in Hounslow, west London, in June 2023. Working with law enforcement partners in Italy, the NCA were able to link him to a number of illegal crossings from Libya.