Growing risks for AML compliance officers – client threats, intimidation and expanding personal liability

Threats and intimidation The story of how two reporters in London investigating the FinTech Wirecard were pursued by a government regulator in Germany, which commenced a bogus criminal investigation against them, and how those reporters were followed and intimidated by Wirecard and its lawyers, is reminiscent of what can happen to anti-money laundering (“AML“) compliance […]

Proceeds of crime from US$550 million Ponzi scheme run by “obscenely greedy con artists”, including diamonds, gold coins, sports memorabilia, art, comic books, go on sale at online auction next week as Covid-19 solution

The proceeds of crime from a massive US$550 million Ponzi scheme perpetrated by two convicted fraudsters in the US – Kevin Merrill and Jay Ledford – are being auctioned at an online auction house starting next week, in part because of Covid-19. Diamonds, sports memorabilia, art, gold coins, comic book from securities fraud being sold […]

Colombian financial crime police find suspected money launderer on Instagram buying Lamborghini and Porsche on her Dad’s $2,400 a year salary

The Colombian financial crime police noticed and tracked down a suspected money launderer by following her extravagant shopping sprees on Instagram. Jenny Ambuila, a Colombian foreign national, was arrested by Colombian federal police for suspected money laundering. She posted many images of expensive purses and 5 star hotel stays in the EU as well as the […]

World’s leading company for communications tech for money laundering and drug trafficking used by top transnational criminal organizations for 10 years, created in Vancouver

World leader in organized crime communications was launched in Canada A Vancouver company, called Phantom Secure, a little over a year ago, was the world leader in providing illegal encrypted communication services for the top international drug traffickers in the world. But perhaps no more. On March 8, 2018, the CEO of Phantom Secure, a Vancouver […]

Hezbollah financier arrested for laundering $10 million at casino

An alleged financier for Hezbollah, Assad Ahmad Barakat, was arrested in Brazil, accused of laundering $10 million at a casino in Argentina. In 2004, the US Treasury said Barakat was one of the most influential members of  Hezbollah, a listed terrorist organization. It accused him of using his businesses in the border areas of Brazil, Paraguay and […]

China seizes $1.5 million in Bitcoin from wallets used for illegal online gambling

The police from Guangdong province in China arrested more than 540 people in mid-July and seized more than $1.5 million in Bitcoin associated with illegal online gambling. Police also took offline more than 70 gambling apps and websites and shut down 250 chats for online gambling. In addition, $39 million in assets have been seized […]

Lessons from the Antonio Carbone / Dream Casinos case – stay away from the Dominican Republic

No due process for Canadian businessman? According to this story in a Dominican Republic newspaper dated May 2, 2017, a Canadian business executive from Ontario who appears to majority own a chain of casinos and sports betting offices in the Dominican Republic called the Dream Casinos has been incarcerated in the Dominican Republic for over […]

Casino executives alleged to have been collecting debts when arrested in China

According to this article, the 18 executives of Crown casinos that were arrested in China in October 2016, were in China to collect the debts of what are called “VIP customers” who go on gambling trips through junket schemes. One of the people arrested was Jason O’Connor, who was the VIP executive for Crown Casinos, […]