Latest Money laundering News

US and Cyprus will sign a deal to fight money laundering and evasion of Russian sanctions

Mar. 26, 2024 09:05 AM EDT

NICOSIA, Cyprus (AP) — The United States and Cyprus said Tuesday they’re formalizing their collaboration in fighting money laundering, sanctions evasion and other financial crimes with an agreement offering Cypriot law enforcement authorities U.S. expertise. The FBI and Cypriot...

Binance executive detained in Nigeria amid a crypto crackdown has escaped custody

Mar. 25, 2024 13:00 PM EDT

KADUNA, Nigeria (AP) — An executive of cryptocurrency exchange Binance has escaped custody in Nigeria, where a criminal investigation has been launched against the platform accused of being used for money laundering, authorities said Monday. Nadeem Anjarwalla, the regional manager...

Panama demands Nicaragua rein in former President Ricardo Martinelli

Mar. 18, 2024 19:58 PM EDT

PANAMA CITY (AP) — Panama on Monday accused Nicaragua of meddling in its internal affairs by allowing former Panamanian President Ricardo Martinelli to continue taking swipes at the justice system and promoting his political allies from within the walls of the Nicaraguan embassy. ...

Small biz advocacy group wins court challenge against the Corporate Transparency Act

Mar. 12, 2024 14:43 PM EDT

NEW YORK (AP) — The National Small Business Association has successfully challenged a law designed to combat money laundering but that small businesses contend is too burdensome. A federal court in Alabama on March 1 ruled that the Corporate Transparency Act is unconstitutional. ...

Panamanian electoral court bars former president Martinelli's candidacy in May elections

Mar. 05, 2024 00:15 AM EST

PANAMA CITY, Panama (AP) — Panama’s Electoral Tribunal has disqualified former president Ricardo Martinelli’s candidacy in the country’s May 5 presidential election because of a 10-year prison sentence for money laundering he received last year, the tribunal’s presiding magistrate said...

Small business reporting requirement found unconstitutional by Alabama federal judge

Mar. 04, 2024 15:20 PM EST

WASHINGTON (AP) — In a blow to the Biden administration's effort to increase corporate transparency, an Alabama federal district judge has ruled that the Treasury Department cannot require small business owners to report details on their owners and others who benefit from the business. ...

A money laundering watchdog removes the UAE, Uganda, Barbados and Gibraltar from a watchlist

Feb. 23, 2024 14:45 PM EST

PARIS (AP) — An international watchdog said Friday that it was removing the United Arab Emirates from its so-called gray list of countries that don't take full measures to combat money laundering and terrorism financing. The announcement was made by the Paris-based Financial Action...

Panama's judiciary orders arrest of ex-president holed up in Nicaragua's embassy

Feb. 22, 2024 18:52 PM EST

PANAMA CITY (AP) — Panamanian authorities on Thursday ordered the arrest of former President Ricardo Martinelli, who has been holed up in the Nicaraguan Embassy since receiving political asylum from that country earlier this month. A judge approved a requested change of...

Hong Kong customs arrests 7 in a $1.8 billion money laundering case linked to transnational crime

Feb. 16, 2024 03:51 AM EST

HONG KONG (AP) — Hong Kong customs officials have arrested seven people linked to the territory's largest ever money laundering case, involving about 14 billion Hong Kong dollars ($1.8 billion) some of it linked to a scam case in India. The seven local residents, aged between 23...

Ex-Illinois lawmaker abruptly pleads guilty to fraud and money laundering, halting federal trial

Feb. 15, 2024 19:48 PM EST

SPRINGFIELD, Ill. (AP) — Former Illinois lawmaker and gubernatorial candidate William “Sam” McCann abruptly pleaded guilty on Thursday to nine felony counts of wire fraud, money laundering and tax evasion, halting his federal corruption trial over misusing up to $550,000 in campaign...