Money Laundering

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 […]

Portuguese authorities are examining more than 20 individuals linked to a Novo Banco SA real-estate transaction after a fresh round of raids on the bank, according to multiple news reports. 

Mexico’s banking lobby is urging lenders to adopt tougher rules on illicit finance that go beyond current law, after U.S. authorities moved to sever three Mexican firms from the American financial system for allegedly laundering money for fentanyl traffickers, according to Bloomberg.

Colombia’s Prosecutor General’s Office accused the National Liberation Army (ELN) of running a two-decade money-laundering network that washed more than $225 million (COP 885 billion) in illicit proceeds through a web of shell and front companies across the country, according to a statement cited by Colombia Reports.

A New Zealand–based marine insurer played a pivotal role in keeping a fleet of tankers carrying Iranian and Russian oil moving to Asian markets despite Western sanctions, according to a Reuters investigation that has prompted scrutiny from authorities in Wellington.