Illicit Finance | Certain Risk

“WebSummit2019 Pavilion 2 Day 2 – WireCard” by Web Summit, taken Nov 5, 2019, via Flickr. Licensed under CC BY 2.0

Singapore Convicts Two in Wirecard Forgery Case

A Singapore court on Monday convicted two businessmen of falsifying documents that misled auditor EY into believing Wirecard held substantial cash in Singapore bank accounts.

Georgian Defense Minister Juansher Burchuladze — Juansher Burchuladze at a bilateral exchange at the Pentagon, Washington, D.C., February 9, 2023 (cropped, edited). Photo by U.S. Department of Defense / DVIDS. Licensed under Creative Commons BY 4.0. Source: Wikimedia Commons

Georgia’s Ex-Defense Minister Detained for Money Laundering, Abuse of Office

Georgia’s ex‑Defense Minister Juansher Burchuladze has been arrested on charges of money laundering and abuse of power, OCCRP said.

Pemex gas station — Case, D. (2015, July 20). Pemex station near Basilica of Our Lady of Guadalupe Basilica, Mexico City [Photograph]. Wikimedia Commons. Licensed under CC BY‑SA 3.0. Source: Wikimedia Commons, edited

Mexico Launches Crackdown on Cross-Border Fuel Theft

Mexico’s attorney general has vowed to issue more arrest warrants—potentially targeting government officials—in connection with sprawling fuel theft operations that siphon billions of dollars from the country.

JPMorgan Chase Ignored Years of Epstein Red Flags: NYT

JPMorgan Chase processed more than $1.1 billion in transactions for Jeffrey Epstein over a 15-year period, despite repeated anti-money laundering (AML) red flags raised internally, according to an investigative report by The New York Times.

Hacker performing a network port scan on a laptop.

OFAC Blacklists Cyber Scammers in Southeast Asia

The U.S. Treasury Department on Monday blacklisted 19 entities linked to large cyber-scam compounds in Southeast Asia that have targeted Americans in romance and cryptocurrency-investment swindles.

Couple on a tropical beach with a sailboat in background. — Image: Rum Point beach – Grand Cayman by Lhb1239, [CC BY-SA 3.0], edited

Watchdog Calls for New Beneficial Ownership Standards in UK Territories

The UK should standardize beneficial-ownership requirements across its Overseas Territories and Crown Dependencies, an international watchdog group said.

JPMorgan to Pay $330 Million to Resolve 1MDB Case in Malaysia

JPMorgan Chase will pay $330 million to the government of Malaysia to settle claims that it facilitated the processing of $800 million in fraudulent transactions linked to the looting of Malaysia’s sovereign wealth fund, 1MDB.