Fugitive Ex-Wirecard Exec Jan Marsalek Tied to Multibillion-Dollar Laundering Ring
Fugitive former Wirecard executive Jan Marsalek has been linked to a sprawling, multibillion-dollar money laundering network that British investigators say connects street-level drug dealers in the UK to sanctioned Russian oligarchs and the Kremlin’s security services, the Financial Times reported.
Chinese American Ex-Employees Sue TD Bank Over Money Laundering Fallout
A group of former Chinese American employees has filed a class-action lawsuit against Toronto-Dominion Bank in the United States, alleging they were unjustly fired after being linked to a major money laundering scandal involving Chinese money brokers and Mexican drug cartels, the Financial Post reported.
Leaked Records Point to Sanctions-Busting Oil Network Supplying DPRK
An intricate network of Russian, North Korean, and Gulf-based companies has been quietly helping funnel hundreds of thousands of barrels of oil to North Korea in apparent violation of U.N. sanctions, according to a new investigation by OCCRP and its affiliates.
Brazil Weighs Taxing Cross-Border Crypto Payments
Brazil’s government is weighing plans to tax the use of cryptocurrencies in international payments, targeting a fast-growing channel for moving money across borders, according to a Reuters report.
Volodymyr Zelensky’s Gold Toilet Problem
Law enforcement raids on luxury Kyiv apartments, including one bathroom fitted with a golden toilet, and images of duffel bags stuffed with cash have plunged President Volodymyr Zelenskyy’s administration into its biggest corruption crisis since he took office, the Financial Times reported.
Singapore Seen as Destination for ‘Scam Farm’ Proceeds
Singapore is facing renewed scrutiny over its defenses against dirty money after police seized hundreds of millions of dollars in assets linked to the Prince Group, a conglomerate labelled by U.S. and UK authorities as a “transnational criminal empire,” according to the Financial Times.
Ten Percent of Meta’s 2024 Revenue Tied to Suspected Scam Ads
Meta internally projected late last year that roughly 10% of its 2024 revenue, or approximately $16 billion, would come from advertising tied to scams and banned goods, according to company documents reviewed by Reuters.
Wildlife Trafficking’s Ties to Guns, Drugs and Human Smuggling
Wildlife traffickers are funneling dirty money through the same financial pipelines used for such illicit activity as human trafficking, child sexual exploitation, and the illegal sale of weapons around the world, according to new University of Waterloo research cited by CBC News.
Brazil Imposes AML Rules on VASPs, Stablecoins
Brazil’s central bank unveiled long-awaited rules for virtual assets on Monday, extending anti–money laundering (AML) and counterterrorism financing (CTF) obligations to crypto firms and classifying fiat-pegged crypto transactions as foreign-exchange operations, Reuters reported.
Albanian Organized Crime Seen as Growing Threat in Europe
Albanian organized crime groups have tightened their grip at home and expanded across Europe while drawing minimal pushback from Brussels, according to a Follow the Money investigation conducted with media partner BLAST.