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British Virgin Islands: Premier Andrew Fahie arrested in US drug sting

Premier Andrew Fahie was detained in Miami by US agents posing as cocaine traffickers from a Mexican drug cartel.

The sports industry: Laundering more than dirty kit?

But unfortunately, the reality is that the sports industry can be an attractive target for criminal activity, including money laundering.

Gambling AML: Money Laundering Through Casinos

One of the industries with the biggest risk of money laundering is casinos.

Signatures for Sale: How Nominee Services for Shell Companies Are Abused to Conceal Beneficial Owners

The report draws evidence from a global mystery shopping exercise based on thousands of solicitations for shell companies, as well as marketing information from shell company providers, and journalistic and policy research on the topic.

Guernsey AML

Guernsey has a democratic assembly known as the States of Guernsey; Alderney and Sark have their own parliaments.

10 measures to expose sanctioned Russian oligarchs’ hidden assets

The Tax Justice Network has in response published a briefing detailing 10 transparency measures

More change proposed to Jersey's AML regime: Are you Exempt?

The rationale for the application of certain current scope exemptions, which mean certain businesses do not have to comply with the anti-money laundering framework, was also identified by the MONEYVAL Report as a cause for concern.

US Treasury's AML report weighs against increased regulations in art market for now

Contrary to what many had expected, however, FinCEN concluded that there is limited evidence of money laundering and little risk of terror financing through the sale of high value art.

EU AML update: solutions for affected Cayman securitisation entities

Regulations prohibits the establishment of securitisation special purpose entities (SSPEs) in countries listed on the EU AML blacklist

FIU issues guidance on Guernsey's consent regime

The guidance contains a timely reminder that a SAR is a living document.

Update on EU AML List – Limited Impact for Cayman Islands

The inclusion of the Cayman Islands on the EU AML List would impact a small subset of securitisation vehicles but otherwise has no direct consequences for investors or clients using Cayman Islands structures.

MAS Penalises Vistra Trust $1.1 Million for Failures in Anti-Money Laundering Controls

VTSPL did not implement adequate procedures to determine if trust relevant parties presented a higher risk for money laundering (ML) or terrorism financing (TF).

Top UK law firm fined record sum for breaching money-laundering rules

Mishcon de Reya agrees to pay fine of £232,500 after investigation by Solicitors Regulation Authority

UAE Faces Risk of Inclusion on Global Watchlist Over Dirty Money

Finance watchdog expected to make its decision early this year

Russia seeks information on missing ‘bank fraud’ funds

The three New York banks are believed to have functioned as correspondent banks “for some of the Ananyev brothers’ fraudulent transfers”

FCA fines HSBC £64m for money laundering failings

HSBC did not dispute the FCA’s findings and agreed to settle at the earliest possible opportunity

Notorious Money Launderer Lavish Life and New Business in Miami

Two Zarrab defense attorneys — one of whom has allowed Zarrab to use his car and credit card — said their client is living up to his plea deal and “all material aspects” of his activities are known to the government.

Ogier Global launches Cayman Islands AML/CFT training for clients

Learners are guided every step of the way through two interactive training modules, case studies and a final assessment.

President Biden's Multiagency Countering Corruption Strategy Signals Increased Enforcement, Potentially Significant Expansion of AML Compliance Requirements

Fifteen federal agencies worked together to develop the Strategy in coordination with the White House.

Credit Suisse Execs Quizzed as Rogue-Banker Case Quickens

Two of the six executives already met with the Geneva prosecutor last month, according to people familiar with the matter.

Money Laundering and AML