New FinCEN alert lists potential red flags and typologies involving attempted sanctions evasion in the CRE sector by sanctioned Russians and their proxies.
January 30, 2023A money laundering operation centre was being run from an apartment at a large private housing estate. The syndicate was "successfully smashed".
January 19, 2023The proposed rule also sets out requirements for institutions to have systems and controls to securely store beneficial ownership information and limit its access.
December 19, 2022Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.
December 15, 2022The fund managers structured investments in a way that generated finder fees that they funnelled through offshore shell companies, causing around $46mn to Libya.
December 14, 2022New FATF report provides risk indicators to help identify opioids trafficking, noting that FIs and DNFBPs are an "important source of information" for FIUs.
December 2, 2022Two Estonians induced victims to enter into “fraudulent equipment rental contracts" and to invest in a fake digital currency bank.
November 29, 2022A new LegCo bill will require MNE entities in Hong Kong to pay profits tax on foreign equity disposals and dividend income, unless they are specifically exempted.
November 2, 2022The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.
October 27, 2022The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.
October 24, 2022