Tesco Bank has become the latest in a string of institutions to suffer major online security breaches.
KYC360 investigative reporter Clementine Wallop examines the unusual case of Zapata vs HSBC Holdings PLC. Families of several US citizens killed by Mexican drug cartels are suing HSBC under the Anti-Terrorism Act, which creates civil liability for supporters of terrorism, for the bank’s role in laundering billions of dollars of drug money.
Stefan Cassella of Asset Forfeiture Law, LLC reviews the recent judgment of United States v. Stevenson which established that the Supreme Court’s decision in Southern Union does not create a Sixth Amendment right to have the amount of criminal forfeiture determined by the jury.
Stefan Cassella of Asset Forfeiture Law, LLC considers the recent judgment of United States v. Napoli which established that to show that the proceeds of a crime are unavailable due to an act or omission of the defendant, it is sufficient for the Government to show that the defendant no longer has substantial assets. Such a showing supports an inference that the proceeds have been spent and that the defendant is the one who spent them.
Monte dei Paschi di Siena (MPS), founded in 1472, is the world’s oldest bank, and one of Italy’s largest. It is a bank in crisis. Headquartered in a 14th century palazzo in Siena, the bank has fared particularly badly in recent Europe-wide banking stress tests, and is seeking €5 billion in recapitalisation funds. It has additionally, on 8 September, seen its CEO Fabrizio Viola agree to step down amid waning investor confidence.
KYC360 examines the UK’s implementation of the PSC register, and the additional steps the UK – and other countries – are taking to combat financial crime.
As the EU forges ahead with a ‘fifth AML Directive’ requiring a public register of trusts, KYC360 considers what Brexit will mean for the future of the UK’s financial regulatory regime.
Stefan Cassella of Asset Forfeiture Law, LLC reviews United States v. Batato, which established that a district court in the United States has jurisdiction to issue a default judgment of forfeiture against assets located in a foreign country, if the crime giving rise to the forfeiture occurred, at least in part, in the United States.
Doraville Properties Corporation v. Her Majesty’s Attorney General: Foreign Enforcement of US Forfeiture Order / Kleptocracy
Stefan Cassella of Asset Forfeiture Law, LLC discusses a recent judgement given by The Royal Court of Jersey which found that a default judgment in a US civil forfeiture case against assets stolen by a foreign dictator is enforceable under Jersey law.
A gambling firm which failed to conduct important anti-money laundering checks on a customer whose deposits eventually reached £750,000 has been fined £2 million by the Gambling Commission. The watchdog said 32Red should have reviewed the ...
Sanctions, whether targeted or comprehensive, are designed to restrict and influence governments from supporting bad actors. Yet with every expansion to these programs, sanctioned entities appear bolder in their efforts and creativity to evade. In 2017, OFAC ...
The dramatic events surrounding the fraudulent transfer of hundreds of millions of dollars from Angola to London involving top British banks have the elements of a gripping movie. There’s news of VIP meetings, midnight flights on ...
By Rachel Crabtree, senior associate, and Michael Carter, director, Alvarez & Marsal Disputes & Investigations With cryptocurrency vastly on the rise, crypto proponents are pushing for more open financial systems to, in part, serve the ...
Susan has been making her living from crime for over twenty years. She provides anti-money laundering training and advice to
For most people looking to land a job in the Nigerian Police Force, the chances are high that a polygraph
The tenants in buildings 6-9 of the prestigious Europort complex in Gibraltar might be surprised to learn that, until recently,
With the rise and rise of e-commerce comes the rise and rise of the e-criminal. Cybercrime is now the world’s