By Elizabeth Hearst for AMLi The CEO of the European Banking Federation, Wim Mijs has stressed the need for effective AML/CFT framework, which he described as of “utmost importance” to the financial sector. In an opinion piece for AMLintelligence, Mijs detailed that existing framework “does not lead to optimal results”, with only 1.1% of criminally…
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Alleged Chinese criminal gang accused of laundering $39 million
Australia Federal Police
Four members of an alleged Chinese criminal gang, accused of laundering more than $39 million dollars in illicit cash, have been charged as part of a joint law enforcement investigation in Melbourne. In January 2023, AFP investigators attached to Taskforce Avarus – a multi-agency operation combatting criminal networks laundering money in Australia and overseas – commenced targeting a Chinese criminal syndicate involved in laundering millions of dollars of proceeds of crime.
Croatia: Three arrested on suspicion of subsidy fraud and document forgery
European Public Prosecutor's Office
(Luxembourg, 28 March 2024) – The European Public Prosecutor’s Office (EPPO) in Zagreb (Croatia) has initiated an investigation against four individuals and a company for subsidy fraud and document forgery, in relation to support for small and medium-sized enterprises. Three of the four suspects were arrested yesterday (27 March 2024) at the EPPO’s request, following investigation activities conducted in cooperation with the Međimurje County Police Administration.
Treasury Sanctions Hamas-Aligned Terrorist Fundraising Network
OFAC
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two individuals and three entities as key financial facilitators involved in fundraising for Hamas. In the wake of the October 7, 2023 terrorist attack perpetrated by Hamas against Israel, Gaza Now engaged in fundraising efforts to support Hamas. Gaza Now and its founder Mustafa Ayash, as well Al-Qureshi Executives and Aakhirah Limited, and their director Aozma Sultana, partnered on multiple fundraising efforts. This action is being taken as part of a collaborative effort with the United Kingdom’s Office of Financial Sanctions Implementation, which is implementing sanctions on these same targets.
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