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ANALYSIS: The UK secrecy loophole that is being exploited by criminals and Putin’s sanctions-busters

Premium November 2, 2023

PUTIN SANCTIONS: Foreign companies holding UK property have until the end of Tuesday to identify their “beneficial owners” in a new public register, making Britain one of the first countries to do so. Foreign companies holding UK property have until the end of today (Tuesday) to identify their “beneficial owners” in a new public register, making Britain one of the first countries to do so. FILE PHOTO SHOWS RUSSIAN PRESIDENT PUTIN SPEAKING TO LOCAL MEDIA.

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LATEST: Croatia, Cyprus and Lithuania get upgraded ratings after tightening AML measures

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BREAKING: TD Bank’s nightmare week gets worse – accused of laundering cash for China fentanyl gangs as regulator fines lender $6.7M for STR failures

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INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

By Alisha Houlihan for AMLi

AN offshore company was used by Putin’s inner circle to create companies, including one that concealed Prigozhin’s yacht during his lifetime, it’s been revealed.

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Premium

LATEST: Croatia, Cyprus and Lithuania get upgraded ratings after tightening AML measures

 Premium

BREAKING: TD Bank’s nightmare week gets worse – accused of laundering cash for China fentanyl gangs as regulator fines lender $6.7M for STR failures

 Premium

INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

Regulatory Watch News

  • Leader of Massive Scheme to Traffic in Fraudulent and Counterfeit Cisco Networking Equipment Sentenced to Prison

    US Department of Justice

    A Florida resident and dual citizen of the United States and Turkey was sentenced yesterday to six years and six months in prison for running an enormous operation over many years to traffic in fraudulent and counterfeit Cisco networking equipment. Under the terms of the plea agreement, Onur Aksoy, 40, of Miami, agreed to pay restitution of $100 million to Cisco and amounts to other victims that will be determined by the court at a later date, and to permit destruction of millions of dollars of counterfeit goods seized from his businesses.

  • Treasury Targets Sanctions Evaders Supporting Key Hizballah Financial Advisor

    OFAC

    WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five individuals for helping U.S.-designated Hizballah money exchanger Hassan Moukalled (Moukalled) and his company, CTEX Exchange, evade sanctions and facilitate illicit activities in support of Hizballah. These individuals, including two co-founders of CTEX Exchange and two of Moukalled’s sons, operate two companies in Lebanon and the United Arab Emirates (UAE) that are being concurrently designated. Individuals and entities targeted today are being designated pursuant to Executive Order (E.O.) 13224, as amended, which targets terrorist groups, their supporters, and those who aid acts of terrorism.

  • FINTRAC imposes an administrative monetary penalty on The Toronto-Dominion Bank

    FINTRAC

    FINTRAC announced today that it has imposed an administrative monetary penalty on The Toronto-Dominion Bank. Following a compliance examination in 2023, this bank in Toronto, Ontario, was imposed an administrative monetary penalty of $9,185,000 on April 9, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

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