International Consortium of Investigative Journalists investigates role of professionals over offshore leaks advice

Tweet ICIJ focusing on professional advice given At the recent Anti-Money Laundering and Financial Crime Conference held by the Association of Certified Anti-Money Laundering Specialists in Las Vegas, Michael Hudson, senior editor of the International Consortium of Investigative Journalists (“ICIJ“), gave an interesting presentation on the ICIJ’s work in exposing the use of offshore tax […]

G20 agrees to immigration policy measures to crack down on corrupt immigrants and proceeds of crime imported into G20 countries, including deportation of wealthy foreign nationals

Tweet Crackdown on foreign nationals with unverified funds The G20 leaders have endorsed a sweeping plan proposed by its Anti-Corruption Working Group (“ACWG“) in 2012 to tackle the illicit movement of proceeds of crime internationally by corrupt foreign nationals to other countries (usually done as part of an immigration process). The change is part of […]

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 […]

Banks warned against money laundering from Tunisia

Tweet 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 […]

Senate report says dirty money still entering U.S. – and there’s a Canadian connection

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, […]