A roundup of money-laundering cases recently reported in the national [UK] media: Fraudster who claimed to be the Pope’s banker is jailed for 14 years (London) The solicitor for a man who duped a shipping firm out of £73 million by posing as the Pope’s banker is found guilty of helping to launder in excess […]

The federal regulator of the nation’s largest and most sophisticated banks has put the threats of anti-money laundering compliance failures and cybersecurity attacks on equal footing in its latest annual report released this week. The US Treasury’s Office of the Comptroller of the Currency (OCC) also highlighted in the report that though total monetary penalties […]

Real estate is an established method of money laundering internationally; the Financial Action Task Force (FATF) has recognized that the real estate sector is a high-risk sector for money laundering, and it frequently attracts criminals who want to launder their dirty money.  So why it is easier to launder money through real estate than the […]

Spanish authorities launched a raid on the Madrid offices on the Industrial and Commercial Bank of China (ICBC) on Wednesday (17 February) amid an investigation focusing on money laundering and tax fraud. The bank’s director was among those arrested during the raid. The operation, conducted by the Civil Guard and the Anti-Corruption Attorney’s Office, sought […]

HSBC has been sued by the families of U.S. citizens murdered by drug gangs in Mexico, claiming the bank let cartels launder billions of dollars to operate their business. The lawsuit alleges that by participating in the money laundering scheme of the cartels, HSBC knowingly contributed directly to the international drug and trafficking trade, including […]

Bipartisan legislation would help stamp out corruption, money laundering and tax evasion by curbing use of anonymously-owned companies in America  Washington, DC – The U.S. Congress today introduced bipartisan legislation in response to a groundbreaking undercover investigation by advocacy group Global Witness. The exposé, which aired on CBS’ 60 Minutes and was covered by the […]

A former French budget minister will appear in court on charges of tax fraud and money laundering that forced him to dramatically resign three years ago in the first political scandal under President Francois Hollande. The trial of Jerome Cahuzac, once a champion in the fight against tax evasion, starts Monday afternoon in the main […]

Ten men suspected of using Bitcoin to launder up to 20 million euros ($22 million) of criminal money made from online drug deals have been arrested in the Netherlands, Dutch prosecutors said on Wednesday. The men, described as all in their 20s and with Dutch nationality, were arrested on Tuesday in coordinated raids on 15 […]