Category: Fraud

Regulatory Watch News

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  Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at SIFMA’s Anti-Money Laundering and Financial Crimes Conference

  treas

  May 25, 2022

  "Compliance plays a critical role in protecting the integrity of the financial system, and no one appreciates that more than me and my colleagues at the Treasury Department. I know that many of you have been working around the clock these past few months to ensure that your institutions’ compliance programs keep pace as Russia’s war has revealed new risks and meaningfully expanded sanctions obligations. Please know that the U.S. government greatly values these efforts. Our ability to address Russian illicit finance—and illicit finance in general—is truly a partnership."

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  SEC Halts Alleged Ongoing $39 Million Fraud by Hedge Fund Adviser

  SEC

  May 25, 2022

  Washington D.C., May 25, 2022 —

  The Securities and Exchange Commission today announced fraud charges against Detroit-based EIA All Weather Alpha Fund I Partners LLC (EIA) and its sole owner, Andrew M. Middlebrooks, for allegedly engaging in a multi-year scheme that included the misappropriation and misuse of investors’ funds. To halt this alleged ongoing fraud, the SEC sought, and on May 19, 2022 obtained, emergency relief from the U.S. District Court in the Eastern District of Michigan, including a temporary restraining order against EIA and Middlebrooks and an asset freeze against the defendants and named relief defendants.

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  The Danish FSA’s annual seminar on money laundering prevention and terrorist financing

  Finanstilsynet -Denmark

  May 25, 2022

  The Danish Financial Supervisory Authority will hold our annual money laundering seminar on Tuesday 31 May 2022, where the overall topic this year will be “working with risks in the area of ​​money laundering and terrorism financing”.