On March 31, 2022, a federal grand jury returned a 92-count indictment charging two individuals with conspiracy to commit bank fraud, bank fraud, aggravated identity…
‘Kleptocapture’ Initiative Aims to Close Corruption Loopholes
The U.S. Department of Justice created what it calls Task Force KleptoCapture, “an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export restrictions, and…
Crackdowns on Money Laundering Networks Are Delivering Dividends
What do the next 12 months look like regarding the rising focus on anti-money laundering (AML) regulations around the world? As surveillance by regulatory bodies…
Odebrecht Scandal Continues with Arrest of Carlos Polit Faggioni in Miami
A former senior Ecuadorean official who was convicted in his home country of extorting millions from Brazilian engineering firm Odebrecht S.A. was arrested in Miami…
SPACS Proving to Be a Regulator’s Nightmare
In a recent interview with Fox Business, Former SEC Chairman Harvey Pitt explained the many “concerns” surrounding a special purpose acquisition company or (SPAC) on…
Former Paraguayan Lawmaker Slapped with Jail Sentence for Money Laundering Cocaine Scheme
A former member of Paraguay’s Congress was sentenced today to 33 months in prison for her role in an international money laundering conspiracy, U.S. Attorney Philip…
Indian AML Startup IntelleWings Raises $650k in pre-Series A Financing
ntelleWings Private Limited, an AI-powered and SaaS enabled AML/CFT (Combating the Financing of Terrorism) Compliance company, today announced that it has raised $650K in pre-Series…
Major Money Laundering Case Snares Lebanon’s Central Bank
Authorities in three European countries have frozen more than $130 million in assets linked to an investigation into money laundering in Lebanon, a European Union…
Microsoft Fires Whistleblower Employee for Exosing Corrupt Practices
A whistleblower has claimed that he was fired by Microsoft after bringing attention to bribes that were being conducted at the company. Yasser Elabd, the…
Lax Offshore Enforcement Has Allowed Russian Oligarchs to Skirt Sanctions
In July 2012, a shell company registered in the British Virgin Islands wired $20 million to an investment vehicle in the Cayman Islands that was…