Tag #Money Laundering

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theglobeandmail.com

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Sep 5, 04:17

Canada's Lackluster National Risk Assessment for Money Laundering and Terrorist Financing

Canada's recently released national risk assessment for money laundering and terrorist financing is criticized for its lack of depth, outdated information, and insufficient guidance for businesses, contrasting sharply with the more frequent and comprehensive assessments of other countries like the U...

Canada's Lackluster National Risk Assessment for Money Laundering and Terrorist Financing

Canada's recently released national risk assessment for money laundering and terrorist financing is criticized for its lack of depth, outdated information, and insufficient guidance for businesses, contrasting sharply with the more frequent and comprehensive assessments of other countries like the U...

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What are the key shortcomings of Canada's 2025 national risk assessment on money laundering and terrorist financing?

The assessment is criticized for its shallow analysis, reliance on outdated data (e.g., a five-year-old estimate of money laundering), and insufficient quantification of terrorism financing and proliferation financing. It offers limited actionable intelligence for businesses mandated to use it for compliance.

aljazeera.com

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Sep 4, 10:19

Peruvian Court Sentences Former President Toledo to 13 Years for Money Laundering

A Peruvian court sentenced former President Alejandro Toledo to 13 years and four months in prison for money laundering, his second conviction related to the Odebrecht corruption scandal, adding to a string of imprisoned ex-presidents in Peru.

Peruvian Court Sentences Former President Toledo to 13 Years for Money Laundering

A Peruvian court sentenced former President Alejandro Toledo to 13 years and four months in prison for money laundering, his second conviction related to the Odebrecht corruption scandal, adding to a string of imprisoned ex-presidents in Peru.

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How did Toledo allegedly commit money laundering, and what is the scale of the alleged crime?

Prosecutors allege Toledo and his wife used $5.1 million in bribes from Odebrecht to purchase real estate in Lima, funneling the money through an offshore company in Costa Rica. This is in addition to a previous conviction where he was found guilty of accepting up to $35 million in bribes from Odebrecht.

nrc.nl

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Sep 3, 04:14

Jumbo Strips Frits van Eerd of Control Amid Money Laundering Conviction

Following Frits van Eerd's conviction for money laundering, bribery, and forgery, Jumbo supermarkets has revoked his voting rights as a shareholder, citing a conflict of interest and potential financial harm to the company.

Jumbo Strips Frits van Eerd of Control Amid Money Laundering Conviction

Following Frits van Eerd's conviction for money laundering, bribery, and forgery, Jumbo supermarkets has revoked his voting rights as a shareholder, citing a conflict of interest and potential financial harm to the company.

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What immediate actions has Jumbo taken regarding Frits van Eerd's involvement with the company following his conviction?

Jumbo has revoked Van Eerd's voting rights as a shareholder. This decision was made in consultation with banks and follows a court ruling that found Van Eerd's actions harmed the company. Jumbo is also investigating potential financial damages caused by Van Eerd.

kathimerini.gr

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Sep 1, 22:20

Crete Crime Syndicate: Archimandrite's Role Investigated

A criminal network in Crete is being investigated, with a focus on an archimandrite facing charges of blackmail and aggravated assault; the archimandrite was previously blackmailed by the alleged ringleaders.

Crete Crime Syndicate: Archimandrite's Role Investigated

A criminal network in Crete is being investigated, with a focus on an archimandrite facing charges of blackmail and aggravated assault; the archimandrite was previously blackmailed by the alleged ringleaders.

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What is the archimandrite's alleged involvement in the Crete crime syndicate?

The archimandrite is under investigation for allegedly providing a false document for the sale of land belonging to a monastery to Israeli investors by two brothers who had illegally occupied it. Information suggests he was blackmailed into this action with a personal video.

bbc.com

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Aug 30, 04:15

Brazil Tightens Fintech Regulations to Curb Money Laundering

Brazil's tax authority has implemented stricter regulations on fintechs, mirroring those for traditional banks, to curb money laundering and combat organized crime.

Brazil Tightens Fintech Regulations to Curb Money Laundering

Brazil's tax authority has implemented stricter regulations on fintechs, mirroring those for traditional banks, to curb money laundering and combat organized crime.

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How will these regulations impact fintech operations and costs?

Fintechs face increased operational costs due to the need for strengthened corporate governance, including enhanced internal controls, new systems, and dedicated personnel to monitor transactions for suspicious activities. They must report atypical transactions to the Central Bank and Coaf, potentially requiring client clarifications.

bbc.com

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Aug 29, 01:19

Brazil's Massive Crackdown on PCC's R$52 Billion Money Laundering Scheme

Brazilian authorities launched three major operations against the Primeiro Comando da Capital (PCC), seizing assets and arresting suspects in a scheme that allegedly laundered R$52 billion through investment funds and fuel sales, highlighting the infiltration of organized crime into the country's fi...

Brazil's Massive Crackdown on PCC's R$52 Billion Money Laundering Scheme

Brazilian authorities launched three major operations against the Primeiro Comando da Capital (PCC), seizing assets and arresting suspects in a scheme that allegedly laundered R$52 billion through investment funds and fuel sales, highlighting the infiltration of organized crime into the country's fi...

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How did the PCC utilize fintechs and investment funds to launder money and protect its assets?

The operations, dubbed Carbono Oculto, Quasar, and Tank, uncovered a four-stage process: (1) PCC-controlled importers purchased fuel abroad, (2) fuel was distributed through a network of approximately 1,000 gas stations across 10 states, evading taxes, (3) proceeds were laundered via gas stations, convenience stores, and fintechs like BK Bank, and (4) funds were invested in investment funds based near Avenida Faria Lima to shield assets.

elpais.com

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Sep 4, 16:18

Former Peruvian President Alejandro Toledo Sentenced to 13 Years for Money Laundering

A Peruvian court sentenced former president Alejandro Toledo to 13 years and four months in prison for money laundering, involving an offshore company used to launder money, marking his second conviction.

Former Peruvian President Alejandro Toledo Sentenced to 13 Years for Money Laundering

A Peruvian court sentenced former president Alejandro Toledo to 13 years and four months in prison for money laundering, involving an offshore company used to launder money, marking his second conviction.

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How does this case relate to broader patterns of corruption in Peru?

Toledo's conviction highlights a larger pattern of corruption involving high-ranking officials and major construction firms like Odebrecht and Camargo y Correa. The Ecoteva case, involving offshore accounts and money laundering, shows how complex financial schemes are used to hide illicit funds. This case follows previous convictions for high-level officials, impacting public trust and the stability of the Peruvian government.

dw.com

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Sep 4, 04:14

Former Peruvian President Alejandro Toledo Receives 13-Year Sentence for Money Laundering

A Lima court sentenced former Peruvian President Alejandro Toledo to 13 years and 4 months in prison for money laundering, his second conviction for corruption during his 2001-2006 term, stemming from illicit payments from Odebrecht and Camargo Correa channeled through a Costa Rican company.

Former Peruvian President Alejandro Toledo Receives 13-Year Sentence for Money Laundering

A Lima court sentenced former Peruvian President Alejandro Toledo to 13 years and 4 months in prison for money laundering, his second conviction for corruption during his 2001-2006 term, stemming from illicit payments from Odebrecht and Camargo Correa channeled through a Costa Rican company.

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What is the immediate impact of this second conviction on Alejandro Toledo and his associates?

This 13-year sentence for money laundering adds to Toledo's existing 20-year sentence, further solidifying his imprisonment. His wife and others involved face similar consequences. The ruling highlights the severity of corruption charges.

kathimerini.gr

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Sep 2, 16:18

Turkish-Occupied Cyprus Gambles on Casinos Amidst Economic Crisis

Faced with economic hardship, the Turkish-occupied Cypriot administration is aggressively expanding its casino industry, despite concerns about potential increases in money laundering and corruption, further hindering a Cyprus settlement.

Turkish-Occupied Cyprus Gambles on Casinos Amidst Economic Crisis

Faced with economic hardship, the Turkish-occupied Cypriot administration is aggressively expanding its casino industry, despite concerns about potential increases in money laundering and corruption, further hindering a Cyprus settlement.

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What are the underlying economic factors driving this decision, and what are the potential consequences?

The Turkish Cypriot administration is heavily reliant on Turkish support, but with Turkey's economic instability and inflation soaring, this gamble on casinos is seen as a last resort to generate revenue and attract Turkish tourists. The risks include exacerbating existing economic vulnerabilities and undermining attempts toward reconciliation.

foxnews.com

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Aug 31, 07:20

Former Postal Investigator Charged with $330,000 Fraud

A former U.S. Postal investigator, Scott Kelley, 51, was charged with stealing over $330,000 from packages, using the funds for personal expenses including escorts, home renovations, and vacations.

Former Postal Investigator Charged with $330,000 Fraud

A former U.S. Postal investigator, Scott Kelley, 51, was charged with stealing over $330,000 from packages, using the funds for personal expenses including escorts, home renovations, and vacations.

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How did Kelley execute the fraud, and who were the victims?

Kelley allegedly deceived postal workers into sending him packages from victims of a Jamaican lottery scam, then stole the cash inside. The indictment identifies seven victims, aged 75-82, who each sent between $1,400 and $19,100, none of whom recovered their money or packages. He laundered the money using postal money orders and numerous bank deposits.

cnnespanol.cnn.com

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Aug 29, 04:15

Mexican Cartels Launder $312 Billion via Chinese Networks

The U.S. Treasury Department's FinCEN announced that Mexican drug cartels laundered approximately $312 billion through Chinese networks between 2020 and 2024, using trade-based money laundering, money mules, and mirror transactions, due to financial restrictions in Mexico and China.

Mexican Cartels Launder $312 Billion via Chinese Networks

The U.S. Treasury Department's FinCEN announced that Mexican drug cartels laundered approximately $312 billion through Chinese networks between 2020 and 2024, using trade-based money laundering, money mules, and mirror transactions, due to financial restrictions in Mexico and China.

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How do restrictions in both Mexican and Chinese financial systems facilitate the use of these transnational money laundering networks?

Mexican cartels leverage these Chinese networks due to restrictions within Mexico's financial system, forcing them to use methods outside the country to launder drug profits. The Chinese networks operate outside of China for similar reasons. The cartels involved include the Jalisco New Generation Cartel, Sinaloa Cartel, and Gulf Cartel, all previously designated as terrorist organizations.

lexpress.fr

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Aug 29, 01:19

Brazil Cracks Down on Massive Fuel-Smuggling, Money-Laundering Operation

Brazilian authorities conducted a large-scale operation targeting a fuel-smuggling and money-laundering ring linked to the PCC criminal group, seizing assets worth millions of euros and arresting five individuals; the network laundered an estimated 8 billion euros through 40 investment funds.

Brazil Cracks Down on Massive Fuel-Smuggling, Money-Laundering Operation

Brazilian authorities conducted a large-scale operation targeting a fuel-smuggling and money-laundering ring linked to the PCC criminal group, seizing assets worth millions of euros and arresting five individuals; the network laundered an estimated 8 billion euros through 40 investment funds.

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How did the PCC criminal organization use financial technology to launder money, and what were the specific methods used to evade detection?

This operation highlights the PCC's deep penetration into Brazil's fuel industry, from import to retail, involving fraudulent practices and the sale of dangerous, adulterated fuel. The network laundered money through at least 40 investment funds, totaling approximately 4.7 billion euros, showcasing the group's sophisticated financial strategies and its connections to international criminal organizations like the 'Ndrangheta.

Showing 13 to 24 of 286 results