Money Laundering

Money laundering is the process whereby the proceeds of crime are transformed into ostensibly legitimate money or other assets. However in a number of legal and regulatory system the term money laundering has become conflated with other forms of financial crime, and sometimes used more generally to include misuse of the financial system, including terrorism financing, tax evasion and evading of international sanctions. Most anti-money laundering laws openly conflate money laundering (which is concerned with source of funds) with terrorism financing (which is concerned with destination of funds) when regulating the financial system.
Posts about Money Laundering
  • Fighting Title 31 Currency Seizures issued by CBP

    … This article is going to cover a specific subsection of Title 31 currency seizures. These seizures are typically initiated by U.S. Customs and Border Protection (CBP) to travelers who fail to declare currency they are traveling with in excess of $10,000. Additionally, CBP may seize currency when travelers conspire to defeat reporting requirements…

    Mike Ivancie/ Ivancie Law- 15 readers -
  • ING Bank Subject to Dutch, SEC Probe – Whistleblower Opportunity

    … related to the on-boarding of clients, money laundering and corrupt practices. ING Groep has also received related information requests from U.S. authorities. ING Groep and ING Bank are cooperating with such ongoing investigations and requests. It is currently not feasible to determine how the ongoing investigations and requests may be resolved…

    Due Diligence- 19 readers -
  • Former Texas Registered Rep Arrested for Internet Ponzi Scheme

    … Former Texas Registered Rep Arrested for Internet Ponzi Scheme Posted on Wednesday, February 8, 2017 at 9:31 AM From the Desk of Jim Eccleston at Eccleston Law LLC: Former registered rep Bobby Eugene Guess was arrested following his indictment on charges of securities fraud, theft, money laundering and engaging in organized criminal activity…

    Eccleston Law Offices- 11 readers -
  • Houston Woman Charged with Defrauding Professional Athletes

    … and money laundering. According to the indictment, Fulford allegedly defrauded former NFL football player Ricky Williams and three other professional athlete victims out of millions of dollars. More specifically, Fulford falsely told her victims that she was financial advisor and money manager and offered to manage their expenses for them and use…

    Eccleston Law Offices- 17 readers -
  • Wells Fargo Hits a New Low (Bank Whistleblower Post)

    … with the U.S. Department of Justice that Wachovia Bank (Wells Fargo acquired Wachovia) failed to report suspected money laundering by drug traffickers that used the bank. The government says the laundered money was used to purchase 4 planes that would later ship 22 tons of cocaine. August 2010 A New York federal judge fines the bank for overdraft practices…

    Due Diligence- 34 readers -
  • Colorado Man Arrested For Investment Scheme

    … Colorado Man Arrested For Investment Scheme Posted on Wednesday, November 16, 2016 at 9:34 AM From the Desk of Jim Eccleston at Eccleston Law LLC: Gary Snisky of Longmont, Colorado, has been arrested on charges of mail fraud and money laundering during a scheme to defraud investors. Snisky, with the help of an informational technology worker…

    Eccleston Law Offices- 12 readers -
  • Lawyer, Flop House Operators Charged with Medicaid Fraud

    … taxpayers everywhere. NY Attorney General Lead Prosecutor In announcing the arrests of Cornachio and the Baumblits earlier this month, New York Attorney General Eric Schneiderman said, “We allege that the defendants engaged in a deliberate scheme to exploit those struggling with substance abuse in order to line their own pockets with millions…

    Due Diligence- 32 readers -
  • When Does My Drug Crime Become a Federal Case?

    … that occur in the state of Texas are handled at the state level. This is primarily due to the fact that the majority of drug crimes that are prosecuted in state courts are possession offenses. Possessing a drug simply means to have an illegal substance on your person or in your belongings. Because this offense does not usually include violent actions…

    Matthew Sharp/ The Law Office of Matthew D. Sharp- 24 readers -
  • Law Firm Responsible for Ponzi Scheme Losses

    …; Parke “to help Stanford Financial evade and obstruct securities regulation and enforcement in the United States.” Before getting into the details of the law firm’s involvement, a few more details are needed. Early in the scheme, Stanford had created an offshore bank in Montserrat, a tiny Caribbean territory with just 4,900 residents. When US and UK…

    Due Diligence- 20 readers -
  • The Fix was (Allegedly) In!

    … of records, making false statements, and money laundering among others. Daugherty and Bradley were similarly charged. The immediate result was that hundreds of Conn’s clients lost their disability benefits and will now have to start the lengthy process of applying for them all over again. It was a fairly complex alleged scheme, according…

    Bond and Botes- 27 readers -
  • The Panama Papers – Looking for Whistleblowers

    … LANDSBANKI LUXEMBOURG S.A. ROTHSCHILD TRUST GUERNSEY LIMITED If some of these banks sound familiar, they should. HSBC seems to be in constant trouble for money laundering, the LIBOR scandal and tax evasion. When suspicions recently arose that HSBC was helping Syrian strongman Bashir-al-Assad launder money, HSBC’s CEO told British lawmakers that the bank…

    Due Diligence- 36 readers -
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