Category: AML

Regulatory Watch News

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  Four indicted in conspiracy to commit bank fraud and money laundering schemes involving more than $128 million in criminal proceeds

  IRS Criminal Investigation

  January 15, 2025

  Tampa, FL — United States Attorney Roger B. Handberg announces the unsealing of an indictment charging Daniel Liburdi (Miami), Joseph Scotto (Bay Shore, NY), Gregory Walker (Ontario, Canada), and Frank Carbone III (Orlando) with conspiracy to commit bank fraud and conspiracy to commit money laundering. Liburdi and Carbone III are also charged with bank fraud. Each bank fraud and conspiracy to commit bank fraud offense carries a maximum penalty of 30 years in federal prison. The conspiracy to commit money laundering offense carries a maximum penalty of 20 years in federal prison. The indictment also notifies the defendants that the United States intends to forfeit three residences in Miami Beach, and one in the U.S. Virgin Islands, which are alleged to be traceable to proceeds of the offense. In addition, the government is seeking an order of forfeiture in the amount of $128,144,908.66.

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  Treasury Disrupts Russia’s Sanctions Evasion Schemes

  US Department of the Treasury

  January 15, 2025

  Actions expose a secret payment channel for sensitive exports and target a Kyrgyzstani financial institution for supporting Russia’s military-industrial base

  WASHINGTON — Today, the U.S. Department of the Treasury is moving against Russian efforts to evade U.S. sanctions. This action targets a sanctions evasion scheme established between actors in Russia and the People’s Republic of China (PRC) to facilitate cross-border payments for sensitive goods. In addition, Treasury is designating a Kyrgyz Republic-based financial institution that coordinated with Russian officials and a U.S.-designated bank to implement a sanctions evasion scheme.

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  Financial sanctions update: Russia

  OFSI

  January 15, 2025

  1 entry amended on the consolidated list

  On 15 January 2025 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entry has been amended under the Russia financial sanctions regime and remains subject to an asset freeze and trust services sanctions:

  • Gazprom Neft (Group ID: 16736)