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NEWS: Chinese narcotics gangs are laundering dirty cash through U.S. casinos, warns IRS-CI Chief Guy Ficco

Premium October 21, 2024

TECH: IRS-CI Chief Guy Ficco announced the tech modernization program. File photo shows Chief Ficco address 'AML Intelligence' International Anti-Financial Crime Summit in London.

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NEWS: US banks warn generative AI is ‘industrialising’ scams

UK Gambling Commission AML concerns Premium

NEWS: AI used to bypass gambling KYC checks, UK watchdog warns 

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INSIGHT: Illicit Iranian gambling network helped pull off a $4bn sanctions dodge

BY PAUL O’DONOGHUE, Senior Correspondent

Gangs are using Chinese nationals based in the U.S. to launder illicit finance through the likes of casinos.

That’s according to IRS Criminal Investigation Chief Guy Ficco, who told the International Anti-Financial Crime Summit 2024 that criminal organizations are looking for ways around sanctions.

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Premium

NEWS: US banks warn generative AI is ‘industrialising’ scams

UK Gambling Commission AML concerns Premium

NEWS: AI used to bypass gambling KYC checks, UK watchdog warns 

 Premium

INSIGHT: Illicit Iranian gambling network helped pull off a $4bn sanctions dodge

Regulatory Watch News

  • World Day Against Trafficking in Persons

    Across the world, transnational organized crime groups are trafficking and exploiting thousands of people and forcing them to take part in industrial-scale financial fraud operations. This is a growing form of trafficking in persons for forced criminality, closely intertwined with cybercrime, financial fraud, money-laundering and corruption. In East and South-East Asia, UNODC estimates between US $18 billion and $37 billion financial losses from scams targeting victims in 2023 alone, with a high proportion of these losses attributes to scams committed by organized crime groups located in the region.

  • 850 years in jail for criminals and £70m-worth of drugs seized by specialist Merseyside team

    National Crime Agency

    More than 100 criminals linked to drug and gun crime in Merseyside have been jailed as a result of investigations by a specialist team formed in 2021. One-hundred-and-eight criminals are serving 851 years in prison for crimes including importing drugs, supplying guns and laundering money linked to serious and organised crime. Officers from Merseyside Organised Crime Partnership (OCP) have seized cocaine, heroin, cannabis and ketamine worth up to £70m.

  • 850 years in jail for criminals and £70m-worth of drugs seized by specialist Merseyside team

    National Crime Agency

    More than 100 criminals linked to drug and gun crime in Merseyside have been jailed as a result of investigations by a specialist team formed in 2021. One-hundred-and-eight criminals are serving 851 years in prison for crimes including importing drugs, supplying guns and laundering money linked to serious and organised crime. Officers from Merseyside Organised Crime Partnership (OCP) have seized cocaine, heroin, cannabis and ketamine worth up to £70m.

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