Money Laundering Bulletin

When it comes to financial crime, knowing who you're doing business with is everything, says Ted Datta of Moody's. Unmasking an entity's true ownership and control structure is essential to due diligence for financial services and other companies.

U.S. tariffs, forcing rapid rethinking and redirection by trading partners, at national and business level, spell opportunity for bad actors, always seeking news ways to move value cross-border. Banks can no longer look away, says Mikhail Karataev.

Gambling operator MGM Resorts International, which owns the MGM Grand Casino and the Cosmopolitan of Las Vegas, will pay a US8.5 million fine after the Nevada Gaming Commission (NGC) found two illegal bookmakers had been placing bets, without the filing of any suspicious activity reports.

Affiliated and FINRA-regulated TradeUP Securities, Inc and Tiger Securities, Inc have accepted fines of US$700,000 and US$250,000, respectively, for ineffective anti-money laundering (AML) controls around foreign financial institution omnibus accounts that transacted mainly in thinly traded, low-priced securities.