Financial Crime & Money Laundering
Latest in Financial Crime & Money Laundering· Nov 3
Strand Bookstore settled a $1.5 million case over misuse of a Paycheck Protection Program loan, with allegations involving the wife of Senator Ron Wyden. The settlement signals that lenders and borrowers face sustained liability for PPP loan misallocation years after the pandemic ended, reshaping how financial institutions evaluate their historical pandemic-era lending decisions.
Organized crime money laundering operations, financial system vulnerabilities, and law enforcement responses to illicit cash flows through legitimate institutions.
13 events tracked
- Single source5 days ago
Crypto platforms struggle to block North Korean hackers from moving stolen billions
Binance hackers used obscure crypto services to launder billions in stolen funds, exposing compliance gaps.
The Wall Street Journal
- Single source9 days ago
Strand bookstore settles $1.5M Covid loan case involving senator's wife
Strand Bookstore will pay $1.5 million to settle a Covid loan fraud case involving Senator Wyden's wife.
CNBC
- Single source14 days ago
Warren pushes Justice Department to reveal Bank of America criminal inquiry status
Senator Warren calls for DOJ criminal investigation into Bank of America's anti-money-laundering compliance failures.
CNBC
- Single source20 days ago
Cyprus opens probe into Abramovich's financial dealings
Cyprus police investigate Roman Abramovich's financial affairs, widening scrutiny of the Russian oligarch's assets.
BBC News
- Single source21 days ago
Cyprus opens probe into Abramovich's finances after falsified documents report
Cyprus police investigate Roman Abramovich's financial and tax affairs following his Chelsea ownership.
The Guardian
- Single source24 days ago
Federal agencies deploy data analytics to combat benefit fraud
Federal agencies deploy big data analytics to detect fraud, expanding surveillance capabilities across financial and government systems.
American Enterprise Institute
- Reported by 2 outlets30 days ago
Bank of America pays $1.2 billion penalty for compliance failures
The second-largest U.S. bank received record fines for inadequate controls against money laundering and violations of sanctions regulations.
BBC News · Al Jazeera
- Reported by 2 outlets30 days ago
Treasury Department penalizes Bank of America $1.2 billion for anti-money-laundering failures
The Treasury Department imposed a $1.2 billion penalty on Bank of America for money-laundering violations, announced shortly before the bank's earnings release.
The New York Times · CNBC
- Single sourceabout 1 month ago
United States apprehends suspect in Venezuelan billions-scale financial crime operation
American authorities arrested Álvaro Pulido, who faced accusations tied to a Venezuelan money laundering operation worth multiple billions, after offering a $10 million bounty for his capture.
BBC News
- Single sourceabout 1 month ago
Former Deutsche Bank trader's rate-rigging conviction gets overturned
UK court overturns conviction of ex-Deutsche Bank trader imprisoned for rate-rigging, potentially reopening a major financial crime case.
BBC News
- Single sourceabout 1 month ago
Ghana detains seven people for crafting currency bouquets
Seven people arrested in Ghana for creating decorative money bouquets using banknotes, raising currency handling and fraud concerns.
BBC News
- Single sourceabout 1 month ago
Reform UK leader Farage questioned over undeclared five million pound donation
UK standards commissioner questions Nigel Farage over undisclosed £5 million gift, raising compliance concerns.
The Guardian
- Single sourceabout 2 months ago
Guardian podcast explores how criminal networks exploit retail banking for money laundering
Guardian podcast examines money laundering by organized crime through high street retail, raising compliance risks for financial services.
The Guardian