Tweet The U.S. Attorney’s Office announced today that an Australian foreign national, Daniel Tzvetkoff, was arrested in Las Vegas on charges that he assisted illegal Internet gambling companies process about US$500 million in transactions for American gamblers. An indictment against Tzvetkoff was unsealed in Manhattan federal court today. It alleges that Tzvetkoff operated a payment […]
Tweet Pamrapo Savings Bank, a subsidiary of Pamrapo Bancorp Inc., pleaded guilty in U.S. District Court in Trenton, New Jersey, to conspiracy to violate the Bank Secrecy Act for failing to file currency transaction reports and suspicious activity reports, and willfully failing to maintain adequate anti-money laundering programs. The failures to file reports were in […]
Tweet Wachovia Corp. has agreed to pay a US$160 million settlement with the Department of Justice in the U.S. over allegations that it failed to implement anti-money laundering controls that enabled drug traffickers to launder money by transferring funds from Mexican currency exchange houses, known as casas de cambio, to Wachovia. Prosecutors said the bank […]
Tweet Dirty money entering the U.S. from foreign nationals The Senate Committee on Homeland Security & Governmental Affairs released a special money laundering report today that describes four case studies of foreign politically exposed persons (“PEP“) who laundered money in the U.S. without detection. Two of the case histories have a Canadian connection. The 330-page report, […]
Tweet $485 Million Laundered to Vancouver and Elsewhere In a fascinating series of judgments from Hong Kong, six wealthy immigrants to Vancouver from China, who laundered over US$485 million through casinos in Macau and Las Vegas, and banks in Canada and Hong Kong, were ordered to repay stolen funds to the Bank of China. The […]