Alert: New FINRA Rule 2310 Effective October 31.

FAFT urges Argentina to ‘urgently strengthen’ its fight against money laundering

October 29, 2011 Comments off

The Financial Action Task Force (FAFT) urged Argentina to urgently solve “faults in its
regime of fight against money laundering and financing of terrorism,” after a
meeting with Government officials in Paris. FAFT released its official stance
after a meeting with Argentine Government officials led by Justice Minister
Julio Alak, and even though it acknowledged the country’s progress, it
highlighted that… Read More

Categories: International, Regulation

Singapore to Toughen Money Laundering, Terror Financing Laws

October 29, 2011 Leave a comment

Singapore, where assets under management have risen fivefold to $1.2 trillion since 2001,
will consider a “tougher penalty regime” and boost enforcement against money
laundering and terrorist financing. The city-state will also make laundering of
proceeds from tax offenses a crime and tighten laws on tax evasion, said Ravi
Menon, managing director… Read More

Categories: International, Regulation

Deputies: Waldo traffic stop uncovers money laundering

October 27, 2011 Leave a comment

The Waldo Police Department turned to the Alachua County Sheriff’s Office
for help late Tuesday in an identity-theft and money-laundering case that
apparently involves a large amount of money. The case might wind up in the
hands of the U.S. Secret Service. Waldo police spotted Walmart gift cards and a
large amount of cash inside a vehicle pulled over… Read More

Categories: Individual

Ex-financial adviser pleads guilty to mail fraud, money laundering

October 26, 2011 Leave a comment

Former Urbana investment adviser Timothy J. Roth pleaded guilty Tuesday to mail fraud
and money laundering in connection with a fraud scheme that cost clients about
$16 million. Appearing before U.S. District Judge Michael Mihm in Peoria, Roth
admitted defrauding 11 victims, including companies and individuals, of about
$16 million. Roth, 56, of Stonington, is… Read More

Categories: Broker Dealer

U.N.: Global money-laundering may be $1.6T

October 26, 2011 Leave a comment

Criminals may have laundered about $1.6 trillion in 2009, a report
released Tuesday in Morocco by the U.N. Office on Drugs and Crime indicated. The
total represents 2.7 percent of global gross domestic product in 2009 and aligns
with the 2 percent-to-5 percent range of global GNP established by the
International Monetary Fund to estimate the scale of money-laundering, the U.N.
agency said… Read More

Categories: International

Human Trafficking- Snakes in the Grass

October 25, 2011 Leave a comment

Human smuggling is a lucrative business. Despite the best efforts of customs
officials around the globe, smugglers remain in business, in part because of
their access to capital and law enforcement’s reluctance to use some of the
most advanced tools on the market. Smuggled Chinese arrive in the United States
by… Read More

Categories: International

Bi-Partisan Senate Bill to Close Loopholes and Strengthen Criminal Money Laundering Statutes

October 25, 2011 Leave a comment

Senate Judiciary Committee Ranking Member Chuck Grassley today introduced
comprehensive legislation that will strengthen money laundering statutes and
will make it more difficult for terrorists, drug traffickers and other criminal
organizations to finance their operations by using loopholes to easily transfer
money around the world. Grassley introduced the bill with Senator Dianne
Feinstein of California. Read More

Categories: Regulation