Money Laundering | FinTelegram News

Category: Money Laundering

June 5, 2023

Former CEO Of Collapsed Austrian Laundromat Meinl Bank Is To Be Extradited To The U.S.

A London court today granted the U.S. extradition request against the former CEO of the collapsed Austrian Meinl Bank, Peter Weinzierl. The decision is not final; Weinzierl will now appeal to the High Court. The U.S. accuses him, another ex-bank manager, and Julius Meinl V. of money laundering and bribery surrounding the Brazilian Odebrecht Group scandal. Meinl Bank has been notorious for the laundering of Russian money.

May 30, 2023

Breaking: Law Enforcement Action Day Against Drugs-Related Money-Laundering Network!

On May 30, 2023, authorities in Italy and Spain carried out a joint operation to apprehend 33 individuals involved in a global money laundering syndicate. The suspects from Italy, Albania, Colombia, Morocco, and Syria, had established an extensive network of international companies to launder illicit funds. They offered professional criminal services to conceal the origins of proceeds from illegal drug trafficking in South America.

May 22, 2023

Business Client Sues Revolut Over Fraud Facilitation And Money-Laundering Violations!

Revolut, the troubled UK fintech, is facing a lawsuit for facilitating a £600,000 fraud, according to a report by This Is Money. Terna Energy Trading, a company listed on the Athens stock market, has initiated legal proceedings against Revolut, claiming that the fintech firm violated money laundering regulations by failing to prevent a "fraudulent" transaction that took place last year. The court battle will present another challenge for Revolut co-founder and CEO Nik Storonsky.

May 21, 2023

CySEC Revoked Licensed Of Forex & CFD Broker Stone Edge Capital Over Money Laundering Issues!

Money laundering is now apparently being taken seriously by CySEC against the backdrop of Western sanctions in connection with the Russian invasion of Ukraine. This week, CySEC announced that it has decided to withdraw the Cyprus Investment Firm (CIF) license of Stone Edge Capital Ltd. The (former) CIF's website claims that the license would have been voluntarily resigned. However, this cannot be read in the CySEC decision.

May 7, 2023

Arrested Former CEO Of Austrian Meinl Bank Expected To be Extradited To The United States!

In May 2021, Peter Weinzierl, the former CEO of the now-defunct Meinl Bank, was arrested on US charges at a London airfield after piloting his private jet. US officials investigating international money laundering believed he would hold “valuable information” about individuals in Russia and Ukraine. Weinziel said he was “lured” by a CIA agent to Britain to be more easily extradited to the US. He is expected to be extradited to the U.S.

April 25, 2023

Attention: Dutch Lawyer Starts Legal Action Against Payvision!

It was early 2019 when a year-long investigation by law enforcement agencies resulted in the arrest of two cybercrime masterminds, Uwe Lenhoff and Gal Barak, took place. Both were clients of Rudolf Booker's high-risk payment processor Payvision with their scams. Lenhoff was even a sales partner of Payvision. Now the Dutch lawyer Marius Hupkes is also taking action against Payvision in Amsterdam on behalf of scam victims and invites them to contact him.

April 25, 2023

UK Financial Watchdog Alerts Bank To Fight Cash-Based Money Laundering Via The Post Office

The UK FCA set out a series of measures designed to reduce the risk of money laundering via the Post Office. The regulator brought together partners, including the National Economic Crime Centre (NECC), industry, and government, to strengthen controls while seeking to ensure that legitimate customers can continue to use the Post Office for Everyday Banking. The NECC estimates that hundreds of millions are laundered each year through the cash deposit channel at the Post Office.

April 19, 2023

U.S. Prosecutors Ask For Harsh Sentencing Of Crypto Money Launderer Reginald Fowler!

In April 2022, the U.S. national Reginald Fowler pled guilty to bank fraud and the operation of an unlicensed money-transmitting business in connection with his Crypto Capital, a payment processor that provided fiat-currency banking services to various crypto exchanges through a series of bank accounts opened under false pretenses. Prosecutors asked the court to impose a sentence of at least 82 months prison time, a money judgment of $740 million, and a restitution of $53 million.

April 19, 2023

Estonia Charges Former Danske Bank Employees Over Money Laundering!

Estonia's prosecutor charged six people with laundering at least $1.6 billion and €6 million ($6.58 million) at the now-defunct Estonian office of Danske Bank, Denmark's largest lender. The operations in Estonia became the focus of a massive money laundering scandal after it was discovered some €200 billion in suspicious payments flowed through the non-resident portfolio of the tiny branch between 2007 and 2015.

April 18, 2023

U.S. Authorities Order German Credit Card Processor Nexway to Pay $650,000 For Scam Faciliation!

The U.S. Justice Department and the U.S. Federal Trade Commission (FTC) announced that they would collect $650,000 in consumer redress from the German Nexway Group and its officers Victor Iezuitov and Casey Potenzone. The credit card processor accepted and facilitated scam operators. The payment of the $650,000 will result in suspending the total monetary judgment of $49.5 million granted by the court.

April 17, 2023

Malta’s FIAU And The Pilatus Bank Scandal

There is no stop to the scandals in which Malta’s FIAU is embroiled. Pilatus Bank was a Malta-based bank with a license issued by the Malta Financial Services Authority (MFSA) when Edward Scicluna was the Minister of Finance. Today, Scicluna is the Central Bank Governor of Malta. In September 2016, the Malta FIAU inspection highlighted several shortcomings in the bank’s operations. But the FIAU issued a clean bill of health.

Money Laundering

April 6, 2023

Website Offline! Bandenia Bank And The Money Laundering Network!

A report by the Dutch online platform Follow The Money has brought up the backers of Bandenia Bank. This bank which currently does not have a banking license has been allegedly laundering funds from cybercrime organizations for many years. Bandenia also acts as a company builder, offering to set up companies and bank accounts. Bandenia is said to have laundered funds through accounts at ING and the Spanish banks Caixa and Ibercaja.