Tag: Money laundering

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COURT: Former top UK AML expert convicted of laundering £850,000 linked to major investment scam

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Collaboration between UK and UAE on money laundering after two week programme concludes

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The dark side of art, its changing landscape and its shadowy past with AML

Irish police investigating bank employees after alleged cyber fraud, money laundering and links to criminal gangs

Wife of notorious ‘El Chapo’ pleads guilty to drug trafficking and money laundering

Council of Europe recognizes progress made by San Marino, calls for improved regulatory framework to tackle money laundering and terrorist financing

BREAKING THE HABIT: Nun pleads guilty to stealing more than $835,000 in school funds on charges of money laundering and wire fraud

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Ex-banking CEO denied bail in multi-million dollar laundering probe; judge claims he may be a flight risk

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Australia warns public about ‘cuckoo smurfing’; innocent people may end up with criminal profits in their bank accounts

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INTERPOL investigation sees more than 500 arrests and $83 Million seized in illicit funds in Asia

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Former tax agency chief sentenced to jail in Bosnia for laundering and bribery scheme worth $1 billion

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Slovenia’s management of virtual assets receives major ratings downgrade in latest MONEYVAL report, despite progress in other areas

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FinCEN Finds Cambodia-Based Huione Group to be of Primary Money Laundering Concern, Proposes a Rule to Combat Cyber Scams and Heists
FinCEN
May 2, 2025
WASHINGTON — Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a finding and notice of proposed rulemaking (NPRM) pursuant to Section 311 of the USA PATRIOT Act that identifies Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposes to sever its access to the U.S. financial system. Huione Group serves as a critical node for laundering proceeds of cyber heists carried out by the Democratic People’s Republic of Korea (DPRK), and for transnational criminal organizations (TCOs) in Southeast Asia perpetrating convertible virtual currency (CVC) investment scams, commonly known as “pig butchering” scams, as well as other types of CVC-related scams. Given the money laundering risk posed by Huione Group, FinCEN is proposing to prohibit U.S. financial institutions from opening or maintaining correspondent or payable-through accounts for or on behalf of Huione Group.
FCA seeks feedback on regulation of cryptoasset trading platforms in next phase of road to regulation
Financial Conduct Authority
May 2, 2025

The FCA is seeking views on the future regulation of specific cryptoasset activities, ahead of legislation to bring them within regulation.

Clear crypto regulation will boost confidence in the sector, supporting growth. In this latest discussion paper (DP), the FCA is seeking views on intermediaries, staking, lending and borrowing, and decentralised finance. With more people using credit to purchase crypto, the DP also considers whether restrictions should be applied in that area.
Website Alert – Fraudulent website related to Bank Julius Baer & Co. Ltd.
HKMA
May 2, 2025
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.