A 41-year-old lawyer is charged with eight counts of laundering more than $2.4m and is accused of participating in the organised criminal group.
An Auckland accountant was also arrested as part of the raids. The 40-year-old, who is accused of laundering $275,000 in cash and cocaine possession, will appear in court again in July.
Read MoreThe FMA issued its AML/CFT 2018 Annual Monitoring Report (published April 2019) that covers the period 1 July 2016 to 30 June 2018. We recommend that all reporting entities read this as the same issues will be found across all segments covered by the AML/CFT regime.
Read MoreThe recent media reporting on Operation Nova, a Police investigation into the Comanchero gang, is a timely reminder of the importance of our anti-money laundering measures. During the investigation, Police restrained $3.7 million of assets under the Criminal Proceeds Recovery Act alleged to be the proceeds of crime.
Read MoreNew Zealand is something of a dark horse in the world of offshore finance with "very clear, intentional and excited" use of NZ as a clean tax haven evident, says Will Fitzgibbon
Read MoreBranch Manager for East West Bank LA Sentenced to Two Years in Federal Prison for Money Laundering Scheme
Read MoreFour people from an international drug smuggling syndicate have been arrested after police found 11 kilograms of methamphetamine worth $5.5 million stashed inside cooking appliances.
Read MoreThe shell companies involved were registered by accountants and the individuals involved in the drug importations.
Read MoreAML/CFT Supervisors Inspections, Audits, Document Review and Annual AML/CFT Reports
Read MoreLeaving the EU will isolate the UK from neighbouring states and, as such, weaken its defences against illicit transactions.
Read MoreThe report focuses on Hong Kong, Singapore, South Korea, Australia, New Zealand and South Africa, with illegal betting growing faster than legal gambling in all of those jurisdictions.
Read MoreThe cost of fighting financial crime can be high where it is estimated that in the US the cost of anti money laundering compliance is estimated at $23.5 billion per year. European banks come close with $20 billion spent annually.
Read MoreAt first glance, a rich woman going on a spending spree in Harrods, the luxury department store in London, seems an unlikely entry point into the international financial underworld of laundered money and human rights abuses.
Read MoreCriminals are using the hugely popular video game Fortnite to launder money through its in-game currency.
Read MoreDeutsche Bank AG is facing broadening U.S. scrutiny as a leading Republican lawmaker joined Democratic colleagues in questioning the company’s steps to combat money-laundering amid reports that its U.S. unit may have been a key conduit for dirty cash.
Read MoreGermany was sent a letter of formal notice, the first step of the EU legal procedure against states, while Belgium, Finland, France, Lithuania and Portugal received reasoned opinions, the second step of the procedure which could lead to fines. Other reasoned opinions were sent for the second time to Bulgaria, Cyprus, Poland, and Slovakia.
Read MoreDanske Bank has promised to spend around $300 million to tighten safeguards against financial crime.
Read MoreThe European Commission added Saudi Arabia, Panama and four U.S. territories to a blacklist of nations it considers a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday.
Read Moreillegitimate earnings from drug supply were commingled with whatever legitimate earnings the businesses made
Read MoreDeutsche Bank's head office and other locations in Frankfurt were raided by 170 police officers and tax investigators on Thursday as part of a money laundering probe.
Read MoreCanada has become a “pawn” for international money launderers who exploit the country’s weak laws that allow hidden ownership of real estate and other assets, a new report says.
Read More