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On May 3, 2023, the Department of Justice (DOJ) sentenced defendant Leroy Holmes to five years in federal prison for his connection to a counterfeit card encoding scam that resulted in the fraudulent creation of nearly 600 credit cards, debit […]
The Americas
On May 2, 2023, the Department of Justice (DOJ) sentenced defendant Michael Ansezell Tolliver to ten years in prison for his connection to a COVID-19 fraud scheme that resulted in him obtaining over $1.1 million in Paycheck Protection Program (PPP) […]
On April 19, 2023, the Department of Justice (DOJ) announced the sentencing of the former National Treasurer of Venezuela and her husband for their roles in a money laundering and international bribery scheme dating back to 2008. According to unsealed […]
In a romance fraud scheme dating back to 2017, the Department of Justice (DOJ) has noted that a Florida resident has pleaded guilty to manipulating an 87-year-old Holocaust survivor into sending her over $2.8 million. After meeting on a dating […]
The Government of Canada has published an updated assessment of the country’s inherent risks of money laundering (ML) and terrorist financing (TF), replacing the previous assessment conducted in 2015. The updated report analyzes various ML and TF threats from 2015 […]
On March 30, 2023, the Financial Crimes Enforcement Network (FinCEN) published a Financial Trend Analysis report detailing patterns relating to business email compromise scams in the real estate sector (RE-BEC). Using Bank Secrecy Act (BSA) data from January 2020 to […]
On March 24, 2023, the Financial Crimes Enforcement Network (FinCEN) issued new guidance related to upcoming beneficial ownership information (BOI) reporting requirements due to take effect on January 1, 2024. Primarily geared toward the small business community, the guidance includes […]
On March 15, 2023, a bipartisan group of senators addressed a letter to the Director of the Financial Crimes Enforcement Network (FinCEN), urging the agency to amend certain aspects of its Notice of Proposed Rulemaking (NPRM) regarding beneficial ownership information […]
The Federal Bureau of Investigation (FBI) has released its Internet Crime Report for 2022, revealing the top cybercrime types faced by US networks and the bureau’s efforts to combat rising threats. Based on information submitted to the Internet Crime Complaint […]
In the first collective effort of its kind, on March 2, 2023, the Departments of Justice, Commerce, and the Treasury issued a joint compliance note on Russia-related sanctions and export control evasion. The practical guidance aims to inform the private […]
On February 22-24, the second Financial Action Task Force (FATF) plenary under the two-year Singapore Presidency of T. Raja Kumar took place. A core focus was the increasing scale and number of ransomware attacks, particularly highlighting the misuse of virtual […]
On February 17, the United States Department of Justice (DOJ) indicted a senior oil and gas trader and a Brazil-based intermediary in relation to a bribery and money laundering scheme allegedly centered around securing contracts with the Brazillian energy company […]