The UK bookmaking industry has been exempted by the country’s Treasury from the new Fourth EU Money Laundering Directive, thus escaping the onerous and expensive fate of conducting due diligence on every transaction of €2,000 (£1,740 / $2,150) and above.
Australian betting operator Tabcorp has been officially ordered to pay $35 million (A$45 million) for breaching anti-money laundering and counter-terrorism financing laws.
Judge finds betting giant Tab Limited and three other Tabcorp companies failed to report suspicious matters to financial intelligence unit
Federal authorities are moving to dismantle what they describe as a multistate, multimillion-dollar money laundering operation with the indictments of 21 people accused of using counterfeit cards and stolen account numbers for cash withdrawals and retail purchases at casinos and luxury stores.
Almost a year has passed since the news of the $81 million Bangladeshi bank heist broke out, and yet the Philippines has yet to make progress in its efforts to curb money laundering, the U.S. government said in a report.
Cambodia is vulnerable to money laundering due to a cash-based dollarized economy, porous borders and poor oversight of casinos at border frontiers, according to the latest International Narcotics Control Strategy Report from the US State Department.
Wagering giant Tabcorp will pay $45 million to settle a money laundering case with the government’s financial intelligence agency AUSTRAC.
The Philippine Senate has moved closer to including casinos in the coverage of the country’s Anti-Money Laundering Act, as one of the Senate’s panels began analysing three different bills on the matter.
Las Vegas Sands agreed to pay a $6.96 million criminal penalty to end a U.S. Department of Justice probe into whether it violated a federal anti-bribery law by paying a consultant to help it do business in China and Macau.
On November 8, 2016, Indian Prime Minister Narendra Modi announced in a televised speech that 500 and 1,000 rupee notes would no longer be legal tender, swiftly rendering 86 per cent of cash in the ...
Image: nomination of Richard Cordray as CFPB director. Dodd Frank, the sweeping financial reform brought in after the 2008 financial crisis, is not beloved by Republicans. Numerous elements of the legislation have drawn criticism from the ...
The irony of revelations from the Global Laundromat scandal landing almost exactly a year on from the Panama Paper leaks is not lost on many readers. Clearly the lip-service to greater transparency that followed the financial leak ...
The Laundromat is a name given by the Organized Crime and Corruption Reporting Project to a vast money-laundering scheme. Between autumn 2010 and spring 2014 Russian officials and insiders moved billions of dollars into Europe, ...
Tom Devlin, barrister and partner at Stephen Platt and Associates LLP, unpicks recent anti-money laundering scandals in the finance industry. He looks in detail at what went wrong, how word got out, and how the failings ...
A Republican state senator from the Niagara Falls area and his predecessor pleaded not guilty on Thursday in a pair of schemes involving payments to a spouse and a former aide, the latest in a long line of corruption cases to emanate from New York State’s capital.
Cristina Kirchner ordered to stand trial for the first time in series of corruption and mismanagement cases
Argentina’s former president has been ordered to stand trial, in the first of several cases against the divisive ex-leader.
If you don’t think there is any corruption in Australian politics, then you have no need to worry about the millions of dollars’ worth of corporate donations to political parties.
Agricultural Bank of China (AgBank), the country’s third-biggest lender, said it will spend three years building an anti-money laundering (AML) centre to improve and centralize AML control, according to a statement circulated late on Thursday.