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Money Laundering

How Money laundering is shaping US cities

By Joseph Lawler (@josephlawler) • 3/27/17 12:01 AM In a little-noticed statement, the Treasury bureau responsible for investigating financial crimes shared a remarkable money laundering statistic last month. Thirty percent of the cash purchases of high-end real estate by shell companies in six major cities involved a suspicious buyer, according […]

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U.S. Extends Its Search for Dirty Money in Real Estate

February 24, 2017 Administrative Law, Banking & Finance, Criminal Law, Government The U.S. Treasury Department said it will extend its search for criminals who seek to launder money by buying U.S. real estate, according to a Reuters report. The U.S. Treasury Department Financial Crimes Enforcement Network has had in place […]

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Former NFL Player and Former Bank Executive Sentenced for Ponzi Scheme and Money Laundering

BOSTON – A former New England Patriots player and a former bank vice president were sentenced today in U.S. District Court in Boston in connection with an investment scheme that took in over $35 million by making fraudulent loans to professional athletes. Will D. Allen, 38, of Davie, Fla., and […]

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19 Indicted in International Fraud and Money Laundering Schemes

March 1 2017 Investigators in the U.S. and Abroad Arrest 17 Federal indictments unsealed today in Washington, D.C., charged 19 people in the U.S. and abroad with participating in various international fraud and money laundering conspiracies that resulted in the theft of more than $13 million from more than 170 […]

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Guidance on Existing AML Program Rule Compliance Obligations for MSB Principals with Respect to Agent Monitoring

fincen

This guidance reiterates the anti-money laundering (AML) program obligations on the principals of money services businesses (MSBs) to understand and appropriately account for the risks associated with their agents, as broadly set forth by FinCEN in 2004 guidance primarily focused on foreign agents and counterparties. FinCEN is reiterating its guidance […]

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