Money Laundering

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. 

French investigators have stepped up their probe into alleged corruption at Patrick Drahi’s Altice telecoms group with a series of coordinated raids across the country, seizing cash, luxury goods and other assets, Bloomberg reported.

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. 

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. 

Australian authorities charged a former National Australia Bank employee they allege acted as the “gatekeeper of funds” for a Sydney crime syndicate accused of defrauding “all financial institutions,” according to a Reuters report.

The Central Bank of Ireland has fined cryptocurrency exchange Coinbase €21.5 million for failing to properly monitor transactions, including activity potentially linked to child sexual exploitation, drug trafficking, money laundering and other crimes. 

Germany’s financial watchdog BaFin has imposed a record €45-million penalty on JPMorgan Chase for shortcomings in anti-money laundering (AML) controls, the Financial Times reported, citing the supervisory body. 

British authorities have seized more than £12 million ($15.6 million) worth of fossilized dinosaur bones as part of a court-approved settlement with Chinese national Su Binghai, a suspect in a sprawling money-laundering scandal that has reverberated from Singapore to London, Bloomberg said. 

Federal prosecutors examined Jeffrey Epstein for money laundering and operating an unlicensed money-transmitting business in 2007, according to emails from the deceased sex trafficker’s personal Yahoo account obtained by Bloomberg.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Thursday blacklisted a Mexican human-smuggling ring, imposing sanctions against four individuals and 16 companies it says helped illegally migrate to the United States.  The Cancun-based Bhardwaj Human Smuggling Organization has illicitly transported thousands of people from Europe, the Middle East, South America, and Asia […]