To print this article, all you need is to be registered or login on Mondaq.com.
Nicola Sharp of financial crime specialists Rahman Ravelli
believes new US legislation should reduce the chance of similar
offending.
Europol says it has dismantled an organised crime group that
defrauded more than 50 US banks out of an estimated $14.4M.
It has announced that, on one day last October, an international
operation led by Spanish police and the United States Secret
Service carried out 40 house searches, arrested 37 suspects, seized
13 luxury cars and froze 87 bank accounts. In total, the operation
– known as Operation Secreto - led to 88 house searches and
OWNR Wallet Adds Three Major Upgrades to Deliver More Value to Users
Feb 17 2021 · 12:53 UTC | Updated
Feb 17 2021 · 13:10 by Benjamin Godfrey · 3 min read
Photo: Unsplash
You have successfully joined our subscriber list.
OWNR Wallet has integrated its own inbuilt crypto-to-crypto exchange, shifting the platform’s crypto exchange service reliance on Changenow.io.
Estonian-based cryptocurrency wallet service provider, OWNR Wallet has added three significant upgrades to its platform, all targeted at providing better values for their users. Per a press release shared with Coinspeaker, the upgrades represent a major milestone for the growing startup.
To begin with, OWNR Wallet has implemented a feature that lets its users order for a prepaid card issued by payments services giant Visa Inc (NYSE: V) through its mobile and desktop applications respectively. According to the company, the card will allow one to make purchases or pay for services both online and offline, with
On January 1, 2021, US Congress passed the National Defense Authorization Act (NDAA). Found within the NDAA (as Division F – Anti-Money Laundering) is the Corporate Transparency Act.
Police Target Irish Family in â¬4m Money Laundering Probe
Phil Muncaster UK / EMEA News Reporter , Infosecurity Magazine
European police have targeted an Irish family thought to have laundered as much as €4m ($4.9m) from elsewhere in the region.
The Criminal Asset Bureau of the Irish National Police ordered raids across four residential properties and one business premises in Tipperary and Kilkenny, resulting in the seizure of €100,000 in cash and a car worth €75,000, according to Europol.
Some 16 bank accounts linked to members of the organized crime group were also frozen, along with funds in them amounting to €540,000.
Europol claimed the seizures were possible because the Irish police operate a model of “non-conviction-based forfeiture” whereby assets can be seized without the need for a prior criminal conviction.
FATF and India’s Hawala transactions
National
February 15, 2021
There are numerous steps and activities that India has taken over the years that define Indian character as a rogue state that destabilizes its neighbours and the region. For example, India has been found using Hawala money for terror financing. As per the US Treasury Department’s study, India is one of the largest countries to move money secretly through Hawala worldwide. India was categorized by the US State Department as “Jurisdiction of Primary Concern” in respect of Money Laundering and Financial Crimes. The US State Department’s 2020 report states that for Indian government, money laundering and terror financing are lower priorities while it appreciated the current Pakistan government for taking measures to address the gaps. As per essential measures of FATF, India has failed to identify the risks, and develop policies and domestic coordination to counter money laundering. Under the FATF recommendati