Transparency International | FinTelegram News

Category: Transparency International

May 19, 2024

Dubai Unlocked: The Desert Capital Became a Hub for Money Launderers and Cybercrime Activists!

According to Transparency International, the recent OCCRP Dubai Unlocked investigation underscores the urgent need for stronger oversight of the UAE's anti-money laundering (AML) initiatives. The findings highlight significant lapses in detecting and preventing illicit funds from being invested in the country's real estate sector. With a reputation for financial secrecy and low taxes, the city is an appealing option for those looking to launder or hide cash.

October 10, 2022

Britain Is Still A Global Home Of Financial Crime And Money Laundering Via Partnerships!

More than 21,000 partnerships, 14% of the total set up over the past 20 years incorporated in Britain, “bear the hallmarks” of shell companies used for financial crimes, a report from Transparency International UK (TI-UK) disclosed. They share almost identical characteristics with those known to have been used in corruption and money laundering schemes. Corporate partners from 21 high-risk jurisdictions with a high money laundering risk would control a vast network of LLPs.

May 24, 2020

EU Action Plan to fighting money-laundering is opposed by member states with laissez-fair regulatory regimes

EU plans to fight money-laundering The European Commission plans to establish tighter rules to enforce a unified regulatory approach among member states to tackle money..

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.

U.S. DOJ Charges 18 Individuals and Entities in Global Crypto Fraud Crackdown!

The U.S. DOJ has charged 18 individuals and entities in an international operation targeting market manipulation and fraud in the crypto industry. The defendants, including market makers and token promoters, are accused of using wash trading and false trading activity to deceive retail investors and artificially inflate crypto prices. This is the first major criminal case of its kind in the crypto market.