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NEWS: Kinahan Cartel sanctioned when gang became ‘nexus’ between organised crime and Iranian-backed terrorism, reveals intelligence chief

Premium May 29, 2023

SUMMIT: Organised crime expert and former police chief John O'Driscoll (r) revealed the Kinahan Cartel was sanctioned when its connections with Iranian-backed terrorism became clear. Also on the panel at the 'European AFC Summit 2023' were moderator Peadar Hogan, Interpath Advisory; Karyn Kenny, US DOJ; Kevin Newe, HMRC; and Mark Bishop, National Crime Agency (NCA), UK. PHOTO: Mark Condren.

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INSIGHT: Singapore banks scrutinise China, Turkey, Caribbean and Cyprus customers in wake of $2.4BN AML scandal; accounts being closed, CDD taking four months

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US Treasury launches US-China economic, financial working groups

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More than 50 arrested in latest Italy raid against ‘Ndrangheta mafia

By Laura Lynott for AML Intelligence INTELLIGENCE chief John O’Driscoll has revealed an “important nexus” regarding organised crime and terrorist funding, pointing out the concern was the main reason the US government sanctioned the Kinahan Cartel. Mr O’Driscoll, until recently the police chief in charge of Ireland’s organised crime units, was integral in efforts to…

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Premium

INSIGHT: Singapore banks scrutinise China, Turkey, Caribbean and Cyprus customers in wake of $2.4BN AML scandal; accounts being closed, CDD taking four months

 Premium

US Treasury launches US-China economic, financial working groups

 Premium

More than 50 arrested in latest Italy raid against ‘Ndrangheta mafia

Regulatory Watch News

  • Two Tax Shelter Promoters Found Guilty in Billion-Dollar Syndicated Conservation Easement Tax Scheme

    US Department of Justice

    Defendants Sold Over $1.3 Billion in Fraudulent Tax Deductions
    A federal jury sitting in Atlanta convicted Jack Fisher and James Sinnott today of conspiracy to defraud the United States, conspiracy to commit wire fraud, aiding and assisting the filing of false tax returns and subscribing to false tax returns. Fisher was also convicted of money laundering.

  • Goldman to Pay SEC $6 Million in Penalties for Providing Deficient Blue Sheet Data

    SEC

    Washington D.C., Sept. 22, 2023 —

    The Securities and Exchange Commission today announced settled charges against Goldman Sachs & Co. LLC for failing to provide complete and accurate securities trading information, known as blue sheet data, to the SEC. Goldman agreed to pay a $6 million penalty to resolve the SEC's charges.

  • 3 entries have been amended under the ISIL (Da’esh) and Al-Qaida financial sanctions regime.

    OFSI

    On 22 September 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entries have been amended under the ISIL (Da'esh) and Al-Qaida regime and remain subject to an asset freeze:

    • Taha Ibrahim Abdallah Bakr Al Khuwayt (Group ID: 13720)
    • Amir Muhammad Sa'id Abdal-Rahman al-Salbi (Group ID: 13840)
    • Nurjaman Isamuddin Riduan (Group ID: 7156)
    OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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