Two Somali women, who became US naturalized citizens, were convicted today in federal court in Minnesota of terrorist financing for providing material support to al-Shabaab, a listed terrorist entity in both the US and Canada. The two women collected funds from Somali foreign nationals in Canada and the US during a three year period and [...]
The Financial Crimes Enforcement Network has issued an advisory to U.S. financial institutions to take special precaution when dealing with funds from Tunisian politically exposed persons because of the increased money laundering risk if those funds are from the proceeds of crime (e.g. misappropriated or diverted State assets, proceeds of bribery, public corruption or other [...]
The U.S. 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, entitled ‘Keeping Foreign Corruption out of the United [...]
The housing boom in Kenya and dramatic increase in housing prices in Nairobi has prompted the Kenyan government to launch an investigation into property owned by foreigners according to a report by the Associated Press. The investigation is the result of allegations that Somali pirates are buying real estate in Kenya in record numbers with [...]