Two arrested, including one Canadian, in the 1st state bitcoin prosecution in Florida over alleged money laundering

Tweet In another first for bitcoin, the Miami Beach Police today arrested two men for alleged money laundering involving bitcoin. And one of them is Canadian. According to police, undercover officers and special agents from the Miami Electronic Crimes Task Force posed as bitcoins buyers and contacted various bitcoin sellers on the website “localbitcoins.com” specifically […]

Marijuana brownies & the “smell of money laundering” – email evidence leads to arrest of bitcoin guru over money laundering charges

Tweet One of bitcoin’s earliest enthusiasts, Charlie Shrem who ran BitInstant, a New York based bitcoin exchange, was arrested today and charged with money laundering conspiracy, operating an unlicensed money transmitting business and failure to file suspicious activity reports to FinCEN. The Criminal Complaint was filed by U.S. Attorney for the Southern District of New […]

Foreign firm hit with $1.5 million fine for sanctions violations & failing to have compliance regime

Tweet The Office of Foreign Asset Control (“OFAC“) has assessed a penalty of $1.5 million against Alma Investment LLC, a foreign investment firm and fund, for violating U.S. sanctions by sending electronic wires totaling $103,283 through U.S. financial institutions for the benefit of persons in Iran. The electronic wires are a prohibited export to Iran […]

Potential liability over terrorist attacks on critical infrastructure for private and government participants

Tweet Terrorists will target critical infrastructure Study after study makes one thing clear – the West remains ill-prepared to defend against a terrorist attack to critical infrastructure. That makes it obviously vulnerable, but it also exposes government agencies and the private sector (who own or manage upwards of 80% of critical infrastructure in some areas), […]

l’Union européenne a annulé des sanctions iranien

Tweet Sanctions annulé Le tribunal de l’Union européenne a annulé hier des sanctions décidées par l’UE à l’encontre de sept établissements financiers et d’un ressortissant iranien en raison de leurs liens présumés avec le programme nucléaire controversé de Téhéran. Dans son arrêt, le tribunal qui siège à Luxembourg a estimé que l’UE “n’avait pas apporté […]

Las Vegas Sands agrees to pay $47 million to avoid money laundering prosecution

Tweet The U.S. Department of Justice (“DOJ“) announced that it has resolved its money laundering investigation into the Las Vegas Sands Corp. (“Sands”) 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 […]

HSBC closes bank accounts of consulates over risks that include exposure to money laundering

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 […]

American Express settles over Cuban sanctions issues

Tweet $5.2 million settlement American Express Travel Related Services Company, Inc. (“Amex“) has entered into a settlement agreement to pay US$5.2 million to settle potential civil liability for apparent violations of the Cuban Assets Control Regulations, 31 C.F.R. §§515.201(b)(2) (“CACR“). The CACR broadly prohibit trade and investment with Cuba by any person subject to the jurisdiction of […]

Interpol operation into trafficking of illicit trade results in 6,000 arrests

Tweet An Interpol-led investigation into the trade of counterfeit goods and products over the last two months has resulted in the arrests of more than 6,000 people in Vietnam, China, Belarus, Poland, Romania, Ukraine, Turkey, Namibia, Hong Kong, India, Thailand, Brazil, Chile, Columbia, Peru and Ecuador. In total, 24 million fake goods were seized worth […]