Regulators and law enforcement have made it clear — financial institutions (FI) must do more to enable investigators to craft more useful Suspicious Activity Reports (SARs). Data from public records enhanced using automated graph technology can transform AML/financial...
An alleged money laundering scheme carried out by a family network based in Peru underscores how the Peruvian fishing industry has become a viable channel to clean illicit proceeds from a variety of predicate crimes. The network — composed of several immediate family...
The illicit gold trade continues to challenge global anti-money laundering (AML) efforts, as shown in “the FinCEN Files,” a collection of more than 2,100 leaked Suspicious Activity Reports (SARs) filed by financial institutions with the U.S. Treasury’s Financial...
A transnational network engaged in wildlife trafficking, shark finning, drug trafficking, and money laundering was dismantled by federal and local law enforcement earlier this month, according to a United States Department of Justice (DOJ) announcement. The Wu...
A clothing importer based in the Los Angeles Fashion District recently agreed to plead guilty to charges related to his company’s tax fraud scheme, money laundering, and customs violations, resulting in nearly $118 million in fines. The company owner, Sang Bum “Ed”...
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