UAE, other countries removed from international money laundering watchlist
The international watchdog said on Friday it would remove the United Arab Emirates from its so-called gray list of countries that do not take adequate measures to combat money laundering and terrorist financing. The announcement was made by the Paris-based Financial Action Task Force after a meeting in the French capital. The FATF welcomed “significant […]
Former IL senator abruptly pleads guilty to fraud and money laundering
Former Illinois Rep. William “Sam” McCann pleaded guilty to nine felonies, including wire fraud, money laundering and tax evasion, abruptly ending his federal corruption trial Thursday. The guilty plea came after McCann fired his public defender and reversed the decision on the third day of the court trial. McCann’s lawyer asked for his release, but […]
Hong Kong customs arrest 7 in $1.8 billion money laundering case
Hong Kong Customs authorities have arrested seven people in connection with the largest money laundering case in Hong Kong’s history, involving approximately $1.8 billion. Those arrested are believed to be part of a large multinational syndicate that used shell companies and bank accounts to transfer large sums of money from overseas to Hong Kong. The […]