Federal judges have lauded the government’s goal of rooting out money laundering schemes but questioned the effectiveness of a tactic that’s wreaking havoc on small money services operations.
Category: Financial Crimes Enforcement Network (Treasury Department)
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Crypto Trader OKX Pleads Guilty to Running Illegal U.S. Operation
Federal prosecutors said OKX, based in Seychelles, violated anti-money laundering laws for years. The company agreed to pay more than $500 million in fines and penalties.
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Bank of America Flagged Suspicious Payments to Epstein Only After He Died
Congressional staff to Sen. Ron Wyden are urging that Bank of America be investigated for the way it reported payments from Leon Black to Mr. Epstein.
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The Aftermath of a U.K. Cyberattack: Blood Shortages and Delayed Operations
Several London hospitals, still reeling from a cyberattack last week, have made an urgent plea to medical students to help stem the disruption.
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Why Lobbyists Are Still Fighting Congress on Money Laundering
A law to require disclosure of corporate ownership takes effect Jan. 1. Small businesses and banks say it would be too burdensome and are turning to lobbying and the courts to delay or block it.
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U.S. Moves to Crack Down on Money Behind Fentanyl Trade
Treasury Secretary Janet L. Yellen will travel to Mexico this week for talks on countering illicit finance and fentanyl.
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U.S. Case Details Binance’s Knowledge About Criminal Users
The crypto exchange treated them as essential customers, the government said. U.S. authorities want the industry to understand how bad that is for business.
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Treasury Taps Sanctions Architect to Lead Financial Crimes Team
Andrea Gacki has played a leading role in designing sanctions that the U.S. has imposed on Russia as punishment for its invasion of Ukraine.
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Check Fraud Is on the Rise. Here’s What You Can Do to Prevent It.
The New York Times – Business:Even as fewer people use paper checks, there have been more reports of criminals stealing them from mailboxes and changing the dollar amount and name of the recipient, officials say.