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May 6, 2024 · The US Department of Justice is investigating the bank over its ties to a $653 million drug money-laundering case in New York and New Jersey, a person familiar with the matter told Bloomberg last ...
May 23, 2024 · Research Handbook on Money Laundering. Edited by Brigitte Unger and Daan van der Linde. in Books from Edward Elgar Publishing. Abstract: Although the practice of disguising the illicit origins of money dates back thousands of years, the concept of money laundering as a multidisciplinary topic with social, economic, political and regulatory ...
- Brigitte Unger, Daan van der Linde
- 2013
4 days ago · The Bank Secrecy Act (BSA) does not explicitly state that money services businesses (MSBs) must conduct an anti-money laundering (AML) risk assessment. However, it does say that an MSB "shall develop, implement, and maintain an effective AML program" and that the program "shall be commensurate with the risks posed by the location and size of ...
May 17, 2024 · Li and Zhang are both charged with conspiracy to commit money laundering and six substantive counts of international money laundering. If convicted, the defendants face a maximum penalty of 20 years in prison on each count. The U.S. Secret Service’s Global Investigative Operations Center is investigating the case.
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May 23, 2024 · Money laundering is necessary for two reasons: first, the perpetrator must avoid being connected with the crimes that gave rise to the criminal proceeds (known as predicate offenses); second, the perpetrator must be able to use the proceeds as if they were of legal origin.
May 20, 2024 · The FBI’s efforts also resulted in a successful rescue of two victims who were being extorted by the money laundering organization in February 2021. Prior to the extortion, one of the victims, an employee of the money laundering organization, began stealing illicit funds from a bank account he controlled for the organization.
May 7, 2024 · Section 5332 - Bulk cash smuggling into or out of the United States (a) CRIMINAL OFFENSE.- (1) IN GENERAL.-Whoever, with the intent to evade a currency reporting requirement under section 5316, knowingly conceals more than $10,000 in currency or other monetary instruments on the person of such individual or in any conveyance, article of luggage, merchandise, or other container, and transports ...
