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NEWS: 10 bank workers suspect in ‘Black Axe’ money laundering probe; police warn of ‘insider threat’ at EU lenders

Premium October 24, 2024

JAILED: A bank worker who operated as a manager for "Black Axe" money laundering was jailed this week for three years. Funmi Abimbola (26) was considered one of the most senior players in the organisation to be convicted so far in a continuing investigation by Ireland's National Economic Crime Bureau.

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NEWS: Five arrested in Germany as police shut down €6M pyramid scheme

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NEWS: UK’s FCA bans ex-Credit Suisse VP Detelina Subeva after US money laundering conviction

INSIGHT: ‘Fincrime Central’ admits using AI to re-write Sarah Beth’s original opinion column; result ‘diluted, degraded’ original content

BY PAUL O’DONOGHUE, Senior Correspondent

A 26-year-old bank employee has been sentenced to three years in prison for facilitating money laundering for the Black Axe organized crime group.

The gang has been identified by international law enforcement as one of the most dangerous in the world.

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NEWS: Five arrested in Germany as police shut down €6M pyramid scheme

 Premium

NEWS: UK’s FCA bans ex-Credit Suisse VP Detelina Subeva after US money laundering conviction

INSIGHT: ‘Fincrime Central’ admits using AI to re-write Sarah Beth’s original opinion column; result ‘diluted, degraded’ original content

Regulatory Watch News

  • OFAC Basics Video Series – Requesting OFAC Guidance

    OFAC

    Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) is releasing the fourth video in its "OFAC Basics" video series, "Requesting OFAC Guidance." This video provides a tutorial on how to contact the OFAC Compliance Hotline with questions about how to comply with OFAC-administered sanctions programs or where to find helpful guidance on OFAC's website. You can find all of OFAC's video guidance on the OFAC Video Series page.

  • FCA bans former Credit Suisse vice president following US criminal conviction

    Financial Conduct Authority

    Ms. Subeva is the third former Credit Suisse employee banned for lacking integrity, following their US convictions for conspiracy to commit money laundering connected to corrupt loans to the Republic of Mozambique. On 20 May 2019, Ms Subeva pleaded guilty in the US for her role in a conspiracy to commit money laundering, which included accepting and retaining US$200,000 from one of her co-conspirators in unlawful kickbacks in connection with the loans

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    Cybercriminals around the world have suffered a major disruption after law enforcement and judicial authorities, coordinated by Europol and Eurojust, dismantled key infrastructure behind the malware used to launch ransomware attacks. From 19 to 22 May, authorities took down some 300 servers worldwide, neutralised 650 domains, and issued international arrest warrants against 20 targets, dealing a direct blow to the ransomware kill chain.

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