AML | Certain Risk

Jack Zhang, Chief Executive Officer and Co-Founder, Airwallex, Australia speaking in the Start-Ups in Austerity session at the World Economic Forum Annual Meeting 2023 in Davos-Klosters, Switzerland, 20 January. Congress Centre — Jack Zhang, Chief Executive Officer and Co-Founder, Airwallex, Attribution (CC-compliant): “World Economic Forum Annual Meeting” by World Economic Forum (credit: World Economic Forum/Sikarin Fon Thanachaiary), licensed under Creative Commons Attribution–NonCommercial–ShareAlike 2.0 (CC BY-NC-SA 2.0).

Airwallex Faces AML Audit over Concerns of Child Sex Abuse Funding

Australia’s financial intelligence unit has ordered Singapore-based Airwallex to review whether the payments giant has violated the nation’s anti-money laundering (AML) laws.

Photo of Nelson Tanure standing in front of a bookcase. — Marco Antonio Lima Santos (2022-01-26). “Tanure.am4 (1 de 1).png.” Wikimedia Commons. Licensed under CC BY-SA 4.0. Adapted from the original (edits: [briefly describe your changes]). Source: https://commons.wikimedia.org/wiki/File:Tanure.am4_(1_de_1).png License: https://creativecommons.org/licenses/by-sa/4.0/

Brazil Justice Freezes Nelson Tanure’s Assets in Banco Master Investigation

Brazil’s Supreme Court has ordered the assets of veteran entrepreneur Nelson Tanure to be frozen as part of an investigation into failed lender Banco Master SA, according to a January 6th decision seen by Bloomberg.

U.S. Virgin Islands, Department of Justice, Sexual Offender Registry Photograph of Jeffrey Epstein, edited

Senator Seeks Info on $378mn in BNY Wire Transfers Tied to Epstein

Sen. Ron Wyden, the top Democrat on the Senate Finance Committee, is pressing Bank of New York Mellon Corp. for details about $378 million in wire transfers the bank processed involving accounts linked to Jeffrey Epstein, according to a Bloomberg report.

Photograph of The Swedbank office building in Tartu, Estonia, on 18 July 2024. — “Swedbank in Tartu Estonia” by Tony Webster, Flickr (https://www.flickr.com/photos/diversey/54584627298/), licensed under CC BY 2.0 (https://creativecommons.org/licenses/by/2.0/).

U.S. Justice Department Closes Swedbank Case without Enforcement

The U.S. Department of Justice has closed its anti-money laundering (AML) investigation into Swedbank AG without bringing an enforcement action, according to the Swiss lender.

Photo of the CaixaBank building, Barcelona — Jordiferrer, “Torre de CaixaBank” (8 October 2011), Wikimedia Commons, CC BY-SA 3.0. Source: https://commons.wikimedia.org/wiki/File:Torre_de_CaixaBank.jpg License: https://creativecommons.org/licenses/by-sa/3.0/ Edits: cropped and overlaid text/graphics.

Spain’s AML Watchdog Fines CaixaBank €30mn over Real-Estate Deal

CaixaBank has been hit with several fines totaling more than €30 million by Spain’s anti-money laundering watchdog, Sepblac, over a legacy real-estate transaction.

National flag of India against a blue sky

India Tightens KYC and AML Rules for Crypto Exchanges

India’s Financial Intelligence Unit (FIU) has rolled out stricter identity verification requirements for cryptocurrency exchanges, aiming to curb money laundering and terrorist financing, CoinDesk reported, citing Press Trust of India.

Postcard that reads 'Greetings from Minneapolis' — Greetings from Minneapolis!

U.S. Launches New GTO, Probes Aimed at Minnesota Benefits Fraud Scandal

The U.S. Treasury Department on Thursday launched a set of initiatives to investigate what it called “rampant government benefits fraud” in Minnesota, including the imposition of new reporting requirements for financial institutions.

Actor Kevin Spacey in a tuxedo, smiling. — “Kevin Spacey-9262.jpg” by Harald Krichel, via Wikimedia Commons https://commons.wikimedia.org/wiki/File:Kevin_Spacey-9262.jpg Licensed under CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/

Elite Portuguese Prosecutors Take Over Dirty-Crypto Probe into Spacey Producer

An elite unit of Portugal’s Public Prosecutor’s Office has taken over a money-laundering investigation involving Elvira Gavrilova Paterson, a Ukrainian movie producer who helped promote alleged crypto frauds linked to Russian entrepreneur Vladimir Okhotnikov, according to the International Consortium of Investigative Journalists.

TD Bank local branch location. — “MTA Flatbush South 76 - TD Bank” by Tdorante10, via Wikimedia Commons https://commons.wikimedia.org/wiki/File:MTA_Flatbush_South_76_-_TD_Bank.jpg Licensed under CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/

Ex-TD Bank Employee Pleads Guilty to Helping Launder $474 Million

A former TD Bank employee pleaded guilty to conspiring to launder monetary instruments after prosecutors said he used his position to help a money-laundering network move hundreds of millions of dollars through the institution.

UK Law Firms Brace for Tougher AML Regime Under FCA Oversight

UK law firms are preparing for more stringent oversight of their anti-money laundering (AML) programs after the Financial Conduct Authority (FCA) was designated as the compliance supervisor for the legal sector, The Guardian reported.