The former CEO of Swedbank has been charged with fraud and market manipulation following investigations into money laundering in the Baltics. If convicted she could face up to six years in prison. Birgitte Bonnesen was chief executive of Sweden’s oldest […]
From regime change in Myanmar and Afghanistan to a spotlight on environmental crime at COP26 and the explosive Pandora Papers leak, 2021 has been another landmark year for compliance professionals. But what events from this year are likely to set […]
Financial Action Task Force (FATF) President Dr. Marcus Pleyer has called for a global move against illicit profits generated from environmental crimes. Speaking at a high-level conference attended for the first time by heads of international organizations including the UN’s […]
Digital banks don’t face fundamentally different typologies or risk profiles to other financial institutions. However, their digital-first approach, rapid growth rate and focus on seamless onboarding can make them appealing targets for money launderers. Here, we explore the top typologies […]
Federal authorities in the US are hunting a scam artist who allegedly sold luxury vehicles online to car dealership owners who never received them, and laundered thousands of dollars through a Cincinnati casino. Ismail Shalash sold vehicles to dealerships across […]
The way in which we interact with our banks has changed significantly over the past decade. Financial Technology firms (FinTechs) have enabled greater flexibility, not only in our choice of banking provider, but also in terms of how we access […]
Financial sanctions are an important tool in the global fight against financial crime. Governments around the world use sanctions to restrict and prohibit trade with foreign targets as a means to achieve political objectives or punish violations of international law […]
White collar ‘gatekeepers’ such as accountants, real estate agents and lawyers are helping criminals launder billions of dollars, much of it through the housing market, the Australian Criminal Intelligence Commission (ACIC) has warned. ACIC deputy chief executive Matthew Rippon told a Senate […]
New guidance issued by the Financial Crimes Enforcement Network (FinCEN), the Financial Intelligence Unit (FIU) of the United States, tackles the convergence of ransomware, cryptocurrencies, money laundering, and terrorist financing. The Financial Trend Analysis focuses on patterns and trends in […]
More than 100 people have been arrested, many on the Spanish island of Tenerife, over allegations of money laundering, online scams, and violence. Italian and Spanish officials say the suspects made millions by tricking victims – mostly Italian nationals – […]
This report will explore the state of financial crime in 2021 so far across three key areas:
Geopolitics and sanctions
Regional regulatory trends
The regulation of cryptocurrencies and innovation in decentralized finance (DeFi)
A Nigerian national living in Oklahoma has been sentenced to four years in prison for operating a money-laundering network that defrauded elderly Americans to the tune of at least $2.5m. Between 2017-2019, Afeez Adebara used online dating websites and social […]
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