Latest Money laundering News

Agency: No Cyprus passports for wealthy investors' families

Sep. 24, 2020 2:30 PM EDT

NICOSIA, Cyprus (AP) — Cyprus’ top oversight body urged lawmakers on Thursday to rethink new legislation that empowers the government to grant citizenship to family members of wealthy investors under the country’s lucrative “golden passport” program. The Cyprus Audit Office said...

Two men walk past a Westpac bank branch in Sydney, Thursday, Sept. 24, 2020. Westpac, Australia's second-largest bank, agreed to pay a 1.3 billion Australian dollar ($919 million) fine for breaches of anti-money laundering and counterterrorism financing laws, the largest ever civil penalty in Australia, a financial crime regulator said. (AP Photo/Rick Rycroft)

Australian bank agrees to $919M fine for money laundering

Sep. 23, 2020 8:56 PM EDT

CANBERRA, Australia (AP) — Westpac, Australia’s second-largest bank, agreed to pay a 1.3 billion Australian dollar ($919 million) fine for breaches of anti-money laundering and counterterrorism financing laws, the largest ever civil penalty in Australia, a financial crime regulator said on Thursday....

Italian prosecutor: 'Ndrangheta is top crime group in West

Sep. 22, 2020 3:19 PM EDT

ROME (AP) — Italy’s top anti-mafia prosecutor said Tuesday the country's ‘Ndrangheta mob was “the most important criminal organization in the Western world,” as preliminary hearings in the biggest ever trial against the group resumed. The hearings at the bunker room of the...

FILE - In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York.  Shares of some major banks are tumbling before the market open Monday, Sept . 21, 2020, following a report alleging those including JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon continued to profit from illicit dealings with disreputable people and criminal networks despite being previously fined for similar actions.   (AP Photo/Richard Drew, File)

Bank shares slide on report of rampant money laundering

Sep. 21, 2020 5:29 PM EDT

The financial sector was hit hard Monday following a report alleging that a number of banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon among them — have continued to profit from illicit dealings with disreputable people and criminal networks despite previous...

Paraguayan ex-politician, husband plead guilty in conspiracy

Sep. 17, 2020 12:58 PM EDT

TRENTON, N.J. (AP) — A former member of Paraguay’s Congress and her husband have pleaded guilty to conspiracy to commit money laundering, U.S. authorities announced. Cynthia Elizabeth Tarragó Diaz, 41, and her husband Raimundo Va, 45, agreed to accept at least $2 million in U.S. currency from...

FILE - Iin this Jan.13, 2020 file photo, former president of the IAAF (International Association of Athletics Federations) Lamine Diack arrives at the Paris courthouse, Monday, Jan. 13, 2020. A Paris court is delivering its verdict Wednesday Sept. 16, 2020, in the trial of Lamine Diack on corruption, money laundering and breach of trust charges against the one-time supremo of global track and field athletics, and according to prosecutors, creamed off millions for himself, with his son.(AP Photo/Thibault Camus, File)

Former IAAF head Lamine Diack sentenced to 2 years in prison

Sep. 16, 2020 12:59 PM EDT

PARIS (AP) — Former track federation president Lamine Diack was sentenced Wednesday to two years in prison for corruption during his nearly 16-year tenure at the IAAF, most notably a scheme that allowed Russian athletes who paid millions in hush money to keep competing when they should have been suspended...

FILE - In this Feb. 13, 2020 file photo, Brazilian former President Luiz Inacio Lula da Silva arrives for a meeting with the Italian Cgil union, in Rome. Prosecutors in Brazil’s sprawling Car Wash corruption investigation on Monday, Sept. 24, charged former the former President with money laundering, less than a year after the country’s top court ordered him freed from jail while he appealed his conviction in another case. (AP Photo/Andrew Medichini, File)

Brazil's da Silva faces new charge of money laundering

Sep. 14, 2020 9:38 PM EDT

RIO DE JANEIRO (AP) — Prosecutors in Brazil's sprawling Car Wash corruption investigation on Monday charged former President Luiz Inácio Lula da Silva with money laundering, less than a year after the country's top court ordered him freed from jail while he appealed his conviction in another case. ...

Switzerland agrees terms for returning seized Uzbek funds

Sep. 11, 2020 11:03 AM EDT

BERLIN (AP) — Switzerland said Friday it has agreed in principle with Uzbekistan on the terms under which money seized as part of a money-laundering investigation against the eldest daughter of former Uzbek President Islam Karimov will be returned to the Central Asian nation. The “framework...

Ex-Driscoll's exec sentenced for stealing from berry giant

Sep. 10, 2020 9:01 PM EDT

SAN JOSE, Calif. (AP) — A former executive for one of the world's largest berry suppliers was sentenced to federal prison Thursday and ordered to repay nearly $1.5 million. Marc Marier, 42, of Napierville, Illinois, was sentenced in a San Jose federal courtroom to 29 months in prison after pleading guilty...

Hong Kong arrests 15 on suspicion of stock manipulation

Sep. 10, 2020 6:53 AM EDT

HONG KONG (AP) — Hong Kong police have arrested 15 people on suspicion of manipulating the stock price of media tycoon Jimmy Lai’s company Next Digital and making millions in profit. The arrests Thursday come after Next Digital’s stock price surged over 1,000% within a span of days last month...