Monaco Fines UBS €6 Million for Broad AML and KYC Failures
Monaco’s financial markets watchdog has fined UBS €6 million for “numerous serious breaches” in anti-money-laundering and counterterrorism financing controls.
Organized Crime
Fighting Drug Cartels is Now Centerpiece of U.S. Counterterrorism Strategy
President Donald Trump has signed off on a new U.S. counterterrorism strategy that makes eliminating drug cartels in the Western Hemisphere the administration’s highest priority, the White House announced Wednesday.
One of Mexico’s Most Powerful Cartels is Using TikTok to Recruit Members
A network of TikTok accounts utilizing coded emojis, faction nicknames, and narco ballads are advertising the Cartel Jalisco Nueva Generación (CJNG) in an apparent attempt to recruit new members for one of Mexico’s most powerful criminal organizations, according to a report released this week by social-media analysis firm Graphika.
Number of Money Laundering Cases at All-Time High in Ireland
Money laundering offenses in the Republic of Ireland have surged to unprecedented levels, with gardaí recording close to 2,800 cases last year and struggling to keep pace with the volume.
How UK High-Street Shops Serve as ‘Hidden’ Front for Crime Groups
Thousands of seemingly legitimate UK high street shops are being used by organized-crime groups to launder illicit cash, sell illegal goods, and feed wider criminal networks, with at least £47 billion a year drained from the British economy by the schemes.
One Common Layover Stop for Wildlife Traffickers: Bangkok
Thailand’s main international airport has become a reluctant hub in a sprawling illegal trade funneling wild animals to India, where social media “petfluencers” and exotic cafes are fueling a boom in demand for rare creatures.
Canada Advances Plan to Create Powerful New Financial Crimes Agency
Canada is moving to create a powerful new law enforcement agency dedicated to investigating and prosecuting financial crime, a step that places Ottawa on a sharply different course from Washington, where the Trump administration has scaled back federal fraud enforcement.
Trump’s Crypto Firm Struck Deal with Network Tied to Blacklisted Scam Group
World Liberty Financial, the Trump family-linked crypto venture, announced a deal in November to enable its USD1 stablecoin on a crypto network whose flagship resort project was controlled by two men the U.S. government had sanctioned weeks earlier as alleged operatives of an Asian scam ring.
Australian Gatekeepers to Face Massive Fines for Ties to Criminal Groups
Accountants, lawyers and real estate agents in Australia will face multimillion-dollar fines for assisting the illicit tobacco trade under a sweeping expansion of anti-money-laundering and counterterrorism financing laws taking effect on July 1.
U.S. Mint Bought Gold Mined by Blacklisted Drug Cartel
The United States Mint has for years purchased gold originating from illegal mines controlled by a Colombian drug cartel, violating a federal law requiring that its coins be made from newly mined American gold.