Tag: AML

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NEWS: Transparency International disagrees with ECJ’s controversial decision ultimate beneficial ownership decision

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LATEST: Ukrainian football officials arrested over fraud and money laundering allegations

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NEWS: Australian regulator accuses Star Casino of violating AML regulations

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LATEST: Some progress by China on AML/CFT deficiencies leads to upgrade on two FATF recommendations; country remains in ‘enhanced follow up’

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Cyprus has ‘improvements’ in MONEYVAL report while ‘moderate shortcomings’ remain

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NEWS: Fallout from ECJ decision continues as some EU nations take down public beneficial ownership registers

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Slovakia has ‘steady’ improvements in fight against money laundering: MONEYVAL report

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LATEST: Estonian pair arrested in $575M (€559M) crypto fraud

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BREAKING: Court of Justice of EU rules public beneficial ownership record as ‘invalid’ due to its ‘serious interference’ with fundamental rights

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LATEST: Praise for Czech Republic as country takes ‘positive steps’ in fight against dirty money

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NEWS: Cambodia invites FATF for on-site inspection, as Interior Minister says ‘substantial progress’ has been made

Germany

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NEWS: Brussels on tenterhooks as Berlin wobbles on €10K cash limit which is key to EU’s new AML regulations

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Executive Vice President of Insurance Brokerage Pleads Guilty in $133M Affordable Care Act Fraud Scheme
US Department of Justice
April 19, 2025
A Florida executive pleaded guilty today for his role in a scheme to submit fraudulent applications to enroll consumers in Affordable Care Act insurance plans (ACA plans) that were fully subsidized by the government. The purpose of the scheme was to obtain millions of dollars in commission payments from the insurance company that operated the ACA plans. The federal government paid at least $133,900,000 in subsidies for fraudulently enrolled individuals.
Man convicted of trying to smuggle £1m in suitcases out of UK
National Crime Agency
April 18, 2025
A man who was stopped at Heathrow Airport with £1m in two suitcases has admitted money laundering following a National Crime Agency investigation. Mazen Al Shaar, 48, was stopped by Border Force officers on Saturday 15 March this year as he was about to fly from Terminal Three to Beirut.
Treasury Targets International Bank of Yemen for Support to the Houthis
OFAC
April 18, 2025
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning Yemen-based International Bank of Yemen Y.S.C. (IBY) for its financial support to Ansarallah, commonly known as the Houthis, which is part of the Iran threat network. As part of this designation, OFAC is also sanctioning key leaders or officials of IBY, Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara. The designation of IBY complements the whole-of-government effort to stop Iran-backed Houthi attacks against commercial shipping in the Red Sea.