Mexican Cartel Turns to ‘Dark Fleet’ to Smuggle Fuel from U.S. and Canada
One of Mexico’s most powerful drug cartels is smuggling gasoline and diesel into the Port of Ensenada with the aid of a “dark fleet” tanker and a Houston-based company, according to an investigation by Reuters.
Senate GOP Bill Would Raise BSA Reporting Thresholds and Tie Them to Inflation
Proposed legislation introduced in the U.S. Senate would increase dollar-thresholds triggering reporting requirements under the Bank Secrecy Act for the first time since 1970 and require periodic adjustments to account for inflation, Republican lawmakers said. The “Streamlining Transaction Reporting and Ensuring Anti-Money Laundering Improvements for a New Era Act”, or STREAMLINE Act, would raise the […]
Ten Years On, Iran Nuke Deal Ends with a Whimper
Iran has announced the official end of the 2015 nuclear agreement, saying it is no longer bound by the Joint Comprehensive Plan of Action (JCPOA) and that all restrictions and related mechanisms under the accord are terminated, The Guardian reported.
BNP Paribas Found Liable for Enabling Sudan Atrocities
A Manhattan federal jury found BNP Paribas liable for enabling genocide in Sudan under the Omar al-Bashir regime, raising speculation it could face a multibillion-dollar settlement, Bloomberg reported.
Louvre Jewel Heist Probed for Money-Laundering Motive
French investigators are treating Sunday’s smash-and-grab at the Louvre as a potential money-laundering operation, after four masked thieves stormed the museum’s Galerie d’Apollon and escaped with eight pieces of royal jewelry.
Bank Compliance Slow Services for Some in Europe’s Growing Defense Sector
European lenders are re-engaging with defense companies but smaller firms in the sector’s supply chain are running into hurdles clearing bank compliance requirements, according to new reporting by The Banker.
NY Jury Weighs Whether BNP Paribas Enabled Sudan Atrocities
A federal jury in Manhattan began deliberations Thursday on claims that BNP Paribas helped enable atrocities in Sudan under former ruler Omar al-Bashir in a civil case brought by Sudanese survivors, Le Monde and AFP reported.
France Steps Up Scrutiny of AML Compliance at Crypto Firms
France’s banking supervisor is intensifying on-site anti–money laundering (AML) checks at cryptocurrency firms as it decides which of the country’s more than 100 registered platforms will qualify for EU–wide authorization in the coming months, Bloomberg reported.
UBS Strengthens AML Checks on Wealthy Clients in Asia
UBS Group AG is intensifying scrutiny of how clients in its Asian wealth hubs make and move their money, pressing some to provide more detailed disclosures as the Swiss lender looks to avoid fresh regulatory clashes.
U.S. Charges 777 Partners Co-Founder Over Alleged $500-Million Fraud
Federal prosecutors on Thursday unsealed an indictment charging Josh Wander, co-founder of collapsed investment firm 777 Partners, with wire fraud, securities fraud and conspiracy, alleging he fabricated financial records and misled lenders and investors in a scheme worth up to $500 million. The 17-page filing in Manhattan federal court says Wander used bogus documents and […]