Banks (Finance)
As of January 1, 2026, lawyers in Denmark will be required to make identification information available to their banks on clients who have funds in collective client bank accounts. This new provision is part of an amendment to the Money Laundering Act, which was adopted by the Danish Parliament in
Fraud
Federal authorities announced the filing of a civil forfeiture complaint against over $12 million in Tether cryptocurrency, allegedly linked to a cryptocurrency investment fraud scheme that targeted 10 Mandarin-speaking victims, resulting in losses exceeding $10.3 million. The perpetrators used unsolicited text messages to persuade victims to invest in a
Banks (Finance)
Financial crime continues to plague the banking and lending industry, with money laundering, fraudulent account activity, and account misuse posing significant threats to institutions and their customers. To combat this growing problem, Experian, a global data and technology company, has launched a new solution designed to help banks and lenders
Fraud
The Supreme Court on Monday, September 9, issued a notice to the Gujarat Government and the Enforcement Directorate (ED) on a bail plea filed by journalist Mahesh Langa, who is accused of being involved in a money laundering case linked to an alleged financial fraud. The court questioned the nature
Fraud
A 66-year-old man and a 54-year-old woman from Pensacola, Florida, have been charged with defrauding victims out of millions of dollars through a multi-year scheme. Salvatore John Carpanzano and Heather Gayle Fisher made their initial appearances in federal court on September 3, 2025, before United States Magistrate Judge Zachary C.
Banks (Finance)
The Office of the Comptroller of the Currency (OCC) terminated its 2022 consent order against a national bank on August 18, citing the bank's effective remediation and governance efforts. The order, issued under the Bank Secrecy Act and related anti-money laundering regulations, required the bank to implement corrective
Banks (Finance)
The Central Bank of Nigeria (CBN) has recently set up a new Compliance Department to oversee various aspects of financial regulations, aiming to strengthen the banking sector and enhance supervisory capabilities. The department, led by Director Olubunmi Ayodele-Oni, began operations in the second quarter of 2025 and will handle areas
Banks (Finance)
Reps. Warren Davidson and Jim Banks led 84 colleagues in sending a letter to the Treasury Department, FinCEN, National Economic Council, and President Donald Trump, urging them to exempt U.S. businesses from the Corporate Transparency Act's (CTA) Beneficial Ownership Information (BOI) reporting requirements. The lawmakers argue that
Fraud
The Enugu State Government has accused Chief Executive Officer of Sujimoto Luxury Construction Limited, Olasijibomi Ogundele, of allegedly defrauding the state of N5.7 billion. The government claimed that Ogundele absconded after being paid the N5.7 billion for the construction of 22 Smart Green Schools in different parts of
Fraud
A comprehensive investigation, led by the U.S. Department of Justice, has revealed a massive international alien smuggling ring that brought thousands of Cuban nationals into the United States for profit. The ring, fueled by greed and exploitation, filed hundreds of fraudulent visa applications, laundered millions of dollars, and smuggled
Fraud
The U.S. Attorney's Office, Department of Justice has issued a superseding indictment charging 12 individuals with their roles in an international conspiracy involving alien smuggling, asylum fraud, and money laundering schemes. According to court documents, the defendants operated a prolific alien smuggling operation (ASO) that facilitated the
Banks (Finance)
The Enforcement Directorate (ED) has arrested a Trinamool Congress (TMC) MLA, Jiban Krishna Saha, in connection with a corruption scandal involving the recruitment of government teachers. Saha allegedly used Gramin Bank accounts to evade suspicious transactions alerts and launder money collected from candidates. The ED official stated that Saha and
