The Latest FinCrime News about Crackdowns
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Binance Australia Derivatives Faces 10 Million Dollar Penalty
Oztures Trading, operating as Binance Australia Derivatives, must pay a 10,000,000 dollar penalty after the federal court identified systematic Regulatory Compliance Failures affecting 524 retail clients who were misclassified as wholesale investors.
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Merricks Solicitors Limited Fined by the SRA for anti-money laundering failures
Merricks Solicitors Limited has been fined £12,041 by the SRA for failing to maintain a robust AML compliance framework, specifically regarding the documentation of client and matter risk assessments in high risk conveyancing files.
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U.K. Freezes 108 Million Dollars in Real Estate Assets Linked to Su Jiangbo
The Crown Prosecution Service has frozen 85 London properties worth 108 million dollars in the Su Jiangbo AML investigation, targeting a fugitive using golden passports to launder funds.
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Canada’s Northern Isga Foundation Faces FINTRAC Compliance Enforcement
Canada's Northern Isga Foundation faces enforcement for Canadian Anti-Money Laundering violations involving the Eagle River Casino operations in Alberta.
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Authorities in Italy Seize 20 Million Euros in Major Swiss Money Laundering Case
Authorities in Florence, Italy, seized 20 million euros in assets linked to a major international money laundering scheme involving the systematic depletion of Swiss wealth.
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SRA Fines Law Firm Ranson Houghton LLP Over Anti-Money Laundering Failures
Ranson Houghton LLP faces regulatory action following an SRA investigation into Legal Sector Anti-Money Laundering Compliance failures lasting nearly a decade.
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EU Officials Target Irish Alumina Sanctions Loophole Amid Russian Arms Link
Belgium leads the EU push to close the alumina sanctions loophole after an Irish refinery was linked to a 400 million dollar trade flow supporting 40 sanctioned Russian arms companies.
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Rapper Gims Faces Major Organized Money Laundering Investigation After Paris Arrest
French rapper and international star Gims is currently facing a major organized money laundering investigation in Paris regarding a global tax evasion scheme.
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Former Bank CEO Admits to 24.9 Million Fraud and Sanctions Evasion
Former bank CEO Tomas Niembro Concha pleads guilty to a 24.9 million dollar fraud and sanctions evasion scheme at Nodus Bank. Financial Institutions and Money Laundering Risks led to a major bank collapse and 16.9 million dollar forfeiture.
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Macau Casino Scheme Leads to Indictment and US$1 Billion Penalty in Taiwan
Ten suspects face a Taiwan money laundering indictment for funneled US$1 billion in illegal gains through Macau casinos using a sophisticated credit card scheme.
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US Sanctions Network Over 100 Million Dollar Hezbollah Scheme
The US Treasury has sanctioned a network led by Alaa Hassan Hamieh for a 100 million dollar money laundering scheme benefitting Hezbollah across global borders.
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UK Authorities Move to Dissolve Crypto Firm Over 1 Billion Dollar IRGC Link
UK authorities move to dissolve companies after a TRM Labs report exposed a 1 billion dollar stablecoin network used by the Iranian Revolutionary Guard Corps for sanctions evasion.
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Singapore Bans Former Bankers Linked to 3 Billion Dollar Laundry Case
Monetary Authority of Singapore issued 16 and 7 year prohibition orders against Wang Qiming and Liu Kai following convictions in the 3 billion dollar MAS Prohibition Orders for Wang Qiming and Liu Kai case.
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Austrian FMA Fines NOTARTREUHANDBANK AG for AML Failures
The Austrian FMA has fined NOTARTREUHANDBANK AG 127,500 EUR for violating the Financial Markets Anti-Money Laundering Act through inadequate transaction monitoring and poor due diligence controls.
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The 100 Million Pound Downfall of a Sanctioned Iranian Banker
A sanctioned Iranian banker faces a 100 million pound asset freeze after investigations linked his luxury Marbella villa and London holdings to the Revolutionary Guard through complex money laundering schemes.
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Feds Seize 14 Million Dollars From Massive Cartel Laundering Ring
The Department of Justice unsealed a case involving the seizure of 14.9 million dollars targeting international trade based money laundering schemes linked to cartels using shell companies and musicians.
Other News About Crackdowns
Binance Australia Derivatives Faces 10 Million Dollar Penalty
Oztures Trading, operating as Binance Australia Derivatives, must pay a 10,000,000 dollar penalty after the federal court identified systematic Regulatory Compliance Failures affecting 524 retail clients who were misclassified as wholesale investors.
Merricks Solicitors Limited Fined by the SRA for anti-money laundering failures
Merricks Solicitors Limited has been fined £12,041 by the SRA for failing to maintain a robust AML compliance framework, specifically regarding the documentation of client and matter risk assessments in high risk conveyancing files.
U.K. Freezes 108 Million Dollars in Real Estate Assets Linked to Su Jiangbo
The Crown Prosecution Service has frozen 85 London properties worth 108 million dollars in the Su Jiangbo AML investigation, targeting a fugitive using golden passports to launder funds.