Tweet Anti-money laundering investigation Caesars Entertainment Corp. said today that FinCEN is investigating it for potential violations of the Bank Secrecy Act over anti-money laundering compliance issues. The statement was made in its filings with the Securities Exchange Commission. According to the statement, FinCEN is considering whether to assess a civil penalty or take enforcement […]
Tweet The U.S. Department of Justice (“DOJ“) announced that it has resolved its money laundering investigation into the Las Vegas Sands Corp. pursuant to which Sands will pay US$47 million to avoid criminal prosecution in connection with funds gambled by high rollers at its Venetian casino in Las Vegas. The DOJ was investigating Sands for failure to […]
Tweet Vatican Strengthens Anti-Money Laundering Pope Francis issued a new anti-money laundering motu proprio effective today to implement the recommendation of Moneyval in respect of the prevention of money laundering, terrorist financing and proliferation of weapons of mass destruction.
Tweet HSBC Cancels Bank Accounts of Consulates HSBC has given notice to several consulates and the Vatican that it is closing their accounts within 60 days. No reason has been officially cited for the cancellation of the client bank agreements but it is likely as a result of the exposure such accounts hold for financial […]
Tweet Wife of Dr. Arthur Porter out on bail Pamela Porter, the spouse of Dr. Arthur Porter, has been released on bail in Montreal after spending more than two months in jail. Ms. Porter is charged with conspiracy and money laundering for Dr. Porter. The money laundering charges stem from what is emerging, if the allegations […]
Tweet Europol report ties mafia to renewable energy This week, Europol released yet another report tying the financing, development and operation of renewable energy projects, particularly wind energy infrastructure projects, to organized crime in Europe. The latest Europol report follows on the heels of an earlier one, the “Serious & Organized Crime Threat Assessment 2013”, […]
Tweet Singapore’s Monetary Authority of Singapore has issued a number of fines, warnings, reprimands and compliance orders to 69 financial institutions for multiple failures to comply with anti-money laundering and counter terrorist financing requirements. The move is Singapore’s effort to appear to be strengthening its anti-money laundering laws to preserve its reputation as the hub […]
Tweet The 2013 International Narcotics Control Strategy Report (“INCSR“) published this month by the U.S. Department of State, particularly volume I on the drug trafficking trade, is more favourable of Canada than the last two years, primarily as a result of the enactment in Canada of the Omnibus Crime Bill C-10, know as the Safe Streets […]
Tweet Carbon market fraud investigation The offices of Deutsche Bank were raided today in Frankfurt by German authorities in connection with an investigation commenced in 2010 over carbon market trading fraud, tax evasion, money laundering and obstruction of justice. Approximately 500 police and tax officials participated in the raid at the headquarters of Deutsche Bank […]
Tweet Police in Columbia have arrested two men arriving in that country after discovering that they were each smuggling $40,000 cash in $100 bills, hidden in their stomachs. The cash was wrapped in plastic, similarly to the way in which drug smugglers wrap up heroin and cocaine for internal body smuggling. The men were taken […]