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Regional regulators must take steps, as the Iraqi Central Bank has done, to wall off their financial systems from unlicensed or loosely regulated money remitters vulnerable to exploitation by the Islamic State.
Trade-based money laundering is an expanding method of financing terrorism, and the United States government is not doing enough to stop it, experts warned Congress on Wednesday.
The European Commission will propose by the end of June stricter rules on prepaid cards and virtual currencies in a bid to reduce anonymous payments and curb the financing of terrorism, documents released on Tuesday showed.
In the wake of the Paris attacks, European officials are stepping up their efforts to choke off funding for terrorists by going after large banknotes, virtual currencies such as Bitcoin and pre-paid cards.
The United States Drug Enforcement Administration (DEA) today announced significant enforcement activity including arrests targeting Lebanese Hizballah’s External Security Organization Business Affairs Component (BAC), which is involved in international criminal activities such as drug trafficking and drug proceed money laundering.
Iran announced Monday two financial milestones as the country emerges from under sanctions, saying it has access to more than $100 billion in previously frozen assets and has rejoined an important international banking network.
If you like crime dramas and movies with international intrigue, then you probably have a basic understanding of money laundering. It's how dictators, drug dealers, corrupt politicians, and other crooks avoid getting caught by transforming their ill-gotten gains into assets that appear to be legitimate.
A phalanx of soldiers wearing bulletproof vests and wielding machine guns fanned out beneath the Eiffel Tower on a recent afternoon, scanning the crowd for potential terrorist threats. Across the country, nearly 10,000 more armed troops patrolled streets around landmarks, stores and government buildings.
With attention growing on the use of shell companies in high-end real estate, an activist organization released a report Sunday night that said several New York real estate lawyers had been caught on camera providing advice on how to move suspect money into the United States.
Top UK regulators are trying to help three Iranian-owned banks reintegrate into the financial system after years of international sanctions — by deploying a unit designed to aid start-ups. The UK-based Iranian lenders would be among the first beneficiaries of the just-launched unit, which allows participating banks access to services such as a helpline and case officers.