The Enforcement Directorate (ED) has filed a money laundering case against Kerala CM Pinarayi Vijayan's daughter Veena and her IT company over alleged illegal payments. Watch in for more details!

India: ED files money laundering case against Kerala CM Pinarayi Vijayan's daughter Veena

India's Financial Intelligence Unit (FIU) levied a fine of 54.9 million rupees ($662,565 approx) on Paytm Payments Bank, an affiliate of fintech giant Paytm, for alleged involvement in money laundering. This action followed a review prompted by law enforcement's information regarding alleged illegal activities such as online gambling facilitation.

"The money generated from these illegal operations proceeds of crime were routed and channelled through bank accounts maintained by these entities with the Paytm Payments Bank," the ministry said.

The ministry announced that after reviewing extensive documentation, it determined the validity of the allegations against Paytm Payments Bank.

A spokesperson for Paytm Payments Bank clarified that the penalty is over issues from a business that ceased operations two years ago.

In response to the findings, Paytm Payments Bank said it had bolstered its surveillance systems and reporting protocols to comply with requirements set by the FIU.

Also watch |&nbsp;Paytm overhauls banking board, CEO Vijay Shekhar Sharma resigns from Payments Bank Board

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<h2>Regulatory scrutiny and RBI directive</h2>

Earlier, the Reserve Bank of India (RBI) had instructed Paytm Payments Bank to cease operations by March 15, citing ongoing regulatory non-compliance issues and supervisory concerns.

Paytm acknowledged receiving inquiries from regulatory bodies, including the Enforcement Directorate, and pledged cooperation in providing necessary information and explanations.

<a href="https://www.wionews.com/business-economy/vijay-shekhar-sharma-steps-down-as-chairman-of-paytm-payments-bank-694098">Also read | Paytm CEO Vijay Shekhar Sharma steps down from payments bank board amid crisis</a>

While it remains unclear if the finance ministry's actions are linked to the RBI's directive, Paytm has taken steps to address compliance issues, including severing some connections with its payments bank division.

Paytm Payments Bank is majority-owned by CEO Vijay Shekhar Sharma, with Paytm holding the remaining stake. Sharma recently resigned as non-executive chairman and board member of the payments bank as part of a broader organisational restructuring effort.

(With inputs from agencies)

India's Financial Intelligence Unit (FIU) levied a fine of 54.9 million rupees ($662,565 approx) on Paytm Payments Bank, an affiliate of fintech giant Paytm, for alleged involvement in money laundering.

India's Financial Intelligence Unit (FIU) levied a fine of 54.9 million rupees ($662,565 approx) on Paytm Payments Bank, an affiliate of fintech giant Paytm, for alleged involvement in money laundering. This action followed a review prompted by law enforcement's information regarding alleged illegal activities such as online gambling facilitation. "The money generated from these illegal operations proceeds of crime were routed and channelled through bank accounts maintained by these entities with the Paytm Payments Bank," the ministry said. The ministry announced that after reviewing extensive documentation, it determined the validity of the allegations against Paytm Payments Bank. A spokesperson for Paytm Payments Bank clarified that the penalty is over issues from a business that ceased operations two years ago. In response to the findings, Paytm Payments Bank said it had bolstered its surveillance systems and reporting protocols to comply with requirements set by the FIU. Also watch | Paytm overhauls banking board, CEO Vijay Shekhar Sharma resigns from Payments Bank Board Regulatory scrutiny and RBI directive Earlier, the Reserve Bank of India (RBI) had instructed Paytm Payments Bank to cease operations by March 15, citing ongoing regulatory non-compliance issues and supervisory concerns. Paytm acknowledged receiving inquiries from regulatory bodies, including the Enforcement Directorate, and pledged cooperation in providing necessary information and explanations. Also read | Paytm CEO Vijay Shekhar Sharma steps down from payments bank board amid crisis While it remains unclear if the finance ministry's actions are linked to the RBI's directive, Paytm has taken steps to address compliance issues, including severing some connections with its payments bank division. Paytm Payments Bank is majority-owned by CEO Vijay Shekhar Sharma, with Paytm holding the remaining stake. Sharma recently resigned as non-executive chairman and board member of the payments bank as part of a broader organisational restructuring effort. (With inputs from agencies)

Paytm Payments Bank of India hit with $662,000 fine amid allegations of money laundering

The Enforcement Directorate (ED) has issued a fresh and the fifth summons to Delhi Chief Minister Arvind Kejriwal for questioning him in the Delhi excise policy linked money laundering case, official sources said on Wednesday. Kejriwal, also the national convenor of the Aam Aadmi Party (AAP), has skipped four earlier summons issued by the federal agency for January 18 and January 3 and November 2 and December 21 in 2023. He had called these notices “illegal”.

It is understood that the fresh summons was for February 2.

It is alleged that the Delhi government’s excise policy for 2021-22 to grant licences to liquor traders allowed cartelisation and favoured certain dealers who had allegedly paid bribes for it, a charge repeatedly refuted by the AAP.

The policy was subsequently scrapped and Delhi Lt Governor V K Saxena recommended a CBI probe, following which the ED registered a case under the Prevention of Money Laundering Act (PMLA)

The Enforcement Directorate (ED) has issued a fresh and the fifth summons to Delhi Chief Minister Arvind Kejriwal for questioning him in the Delhi excise policy linked money laundering case, official sources said on Wednesday.

The Enforcement Directorate (ED) has issued a fresh and the fifth summons to Delhi Chief Minister Arvind Kejriwal for questioning him in the Delhi excise policy linked money laundering case, official sources said on Wednesday. Kejriwal, also the national convenor of the Aam Aadmi Party (AAP), has skipped four earlier summons issued by the federal agency for January 18 and January 3 and November 2 and December 21 in 2023. He had called these notices “illegal”. It is understood that the fresh summons was for February 2. It is alleged that the Delhi government’s excise policy for 2021-22 to grant licences to liquor traders allowed cartelisation and favoured certain dealers who had allegedly paid bribes for it, a charge repeatedly refuted by the AAP. The policy was subsequently scrapped and Delhi Lt Governor V K Saxena recommended a CBI probe, following which the ED registered a case under the Prevention of Money Laundering Act (PMLA)

India: ED issues 5th summons to Arvind Kejriwal in excise policy money laundering case

An Enforcement Directorate team on Monday visited the residence of Jharkhand Chief Minister Hemant Soren in Delhi in connection with a money laundering investigation. Reports suggest that Hemant Soren will appear before the probe agency on January 31.

India: ED raids Hemant Soren's Delhi residence over a land fraud case

Former Bihar deputy chief minister Tejashwi Yadav on Tuesday appeared before the Enforcement Directorate (ED) for questioning in a money-laundering case linked to the alleged land-for-jobs scam, a day after his father and Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav appeared before the agency.

India: ED questions ex-Bihar Deputy CM Tejashwi Yadav in 'land-for-jobs' scam

India: ED interrogates ex-Bihar Deputy CM Tejashwi Yadav a day after grilling his father

The Enforcement Directorate on Wednesday night released Nationalist Congress Party legislator Rohit Pawar from its office in Mumbai after questioning him for nearly 11 hours over the alleged Maharashtra State Co-operative Bank scam.

India: ED questions NCP MLA Rohit Pawar for 12 hrs in money laundering probe

The Enforcement Directorate (ED) on Wednesday raided locations of Jharkhand Chief Minister Hemant Soren's press advisor Abhishek Prasad as part of a money laundering probe into alleged illegal mining in the state.

India: ED raids close associates of Jharkhand CM Hemant Soren

India: Jharkhand CM's press advisor Abhishek Prasad under ED lens

Anatoly Legkodymov, the co-founder and majority owner of the Hong Kong-registered virtual currency exchange Bitzlato, pleaded guilty in a U.S. court to operating a money-transmitting business that processed approximately $700 million in illicit funds. &nbsp;

According to Reuters, the guilty plea, entered before U.S. District Judge Eric Vitaliano in Brooklyn, was part of a deal where Legkodymov agreed to forfeit $23 million in assets. The case, brought by U.S. authorities, sheds light on the alleged criminal activities within Bitzlato, a platform that has recently come under scrutiny.

In court, Legkodymov, a 41-year-old Russian national, admitted to being aware that some Bitzlato clients had used the platform to transfer cryptocurrency derived from illicit activities. He specifically acknowledged the presence of ransomware proceeds from Hydra Market on Bitzlato. &nbsp;

Hydra Market, described by prosecutors as an online marketplace involved in drugs, stolen financial information, and money laundering services, was shut down by U.S. and German law enforcement in April 2022. Breon Peace, the top federal prosecutor in Brooklyn, highlighted that Legkodymov knew Bitzlato was being utilised as an "open turnstile by criminals". &nbsp;

Bitzlato's website no longer functions, as it has been seized by French authorities as part of an international law enforcement operation. Legkodymov's guilty plea is the latest development in the U.S. law enforcement's ongoing efforts to combat fraud and illicit finance in the cryptocurrency markets. &nbsp;

FTX founder Sam Bankman-Fried recently faced conviction on charges of stealing billions, and Binance, a top counterparty of Bitzlato, settled for $4.3 billion, with its CEO pleading guilty to violating U.S. anti-money laundering laws.

An important detail revealed in the case is that Binance was among Bitzlato's significant counterparties, as per U.S. authorities. The interconnection between these major cryptocurrency exchanges raises questions about the broader implications and interconnected nature of illicit financial activities within the crypto sphere. Bitzlato's downfall adds to the recent legal troubles faced by prominent figures in the cryptocurrency industry.

Legkodymov, who ran Bitzlato from Shenzhen, could face up to five years in prison pending his sentencing. The sentencing date has not been set. He has been in custody since his arrest in Miami on January 17 and has been held at the Metropolitan Detention Centre in Brooklyn.

Russia's embassy in Washington had called for Legkodymov's release in April, emphasising diplomatic tensions surrounding his detention. However, the U.S. State Department revealed on Tuesday that Russia rejected a recent proposal for the release of two Americans, including Wall Street Journal reporter Evan Gershkovich, considered to be wrongfully detained in Russia.

(With inputs from Reuters)

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Anatoly Legkodymov, the co-founder and majority owner of the Hong Kong-registered virtual currency exchange Bitzlato, pleaded guilty in a U.S. court to operating a money-transmitting business that processed approximately $700 million in illicit funds.

Anatoly Legkodymov, the co-founder and majority owner of the Hong Kong-registered virtual currency exchange Bitzlato, pleaded guilty in a U.S. court to operating a money-transmitting business that processed approximately $700 million in illicit funds. According to Reuters, the guilty plea, entered before U.S. District Judge Eric Vitaliano in Brooklyn, was part of a deal where Legkodymov agreed to forfeit $23 million in assets. The case, brought by U.S. authorities, sheds light on the alleged criminal activities within Bitzlato, a platform that has recently come under scrutiny. In court, Legkodymov, a 41-year-old Russian national, admitted to being aware that some Bitzlato clients had used the platform to transfer cryptocurrency derived from illicit activities. He specifically acknowledged the presence of ransomware proceeds from Hydra Market on Bitzlato. Hydra Market, described by prosecutors as an online marketplace involved in drugs, stolen financial information, and money laundering services, was shut down by U.S. and German law enforcement in April 2022. Breon Peace, the top federal prosecutor in Brooklyn, highlighted that Legkodymov knew Bitzlato was being utilised as an "open turnstile by criminals". Bitzlato's website no longer functions, as it has been seized by French authorities as part of an international law enforcement operation. Legkodymov's guilty plea is the latest development in the U.S. law enforcement's ongoing efforts to combat fraud and illicit finance in the cryptocurrency markets. FTX founder Sam Bankman-Fried recently faced conviction on charges of stealing billions, and Binance, a top counterparty of Bitzlato, settled for $4.3 billion, with its CEO pleading guilty to violating U.S. anti-money laundering laws. An important detail revealed in the case is that Binance was among Bitzlato's significant counterparties, as per U.S. authorities. The interconnection between these major cryptocurrency exchanges raises questions about the broader implications and interconnected nature of illicit financial activities within the crypto sphere. Bitzlato's downfall adds to the recent legal troubles faced by prominent figures in the cryptocurrency industry. Legkodymov, who ran Bitzlato from Shenzhen, could face up to five years in prison pending his sentencing. The sentencing date has not been set. He has been in custody since his arrest in Miami on January 17 and has been held at the Metropolitan Detention Centre in Brooklyn. Russia's embassy in Washington had called for Legkodymov's release in April, emphasising diplomatic tensions surrounding his detention. However, the U.S. State Department revealed on Tuesday that Russia rejected a recent proposal for the release of two Americans, including Wall Street Journal reporter Evan Gershkovich, considered to be wrongfully detained in Russia. (With inputs from Reuters) WATCH WION LIVE HERE

Russian co-founder of crypto exchange Bitzlato pleads guilty to money laundering charges 

The sources claim that Delhi Chief Minister Arvind Kejriwal has been summoned under the Prevention of Money Laundering Act (PMLA) and that the agency would record his statement after he appears before the case's investigating officer in Delhi.

Delhi CM Arvind Kejriwal excise policy scam investigation; ED conducts raids | WION Newspoint

The Enforcement Directorate, the Indian financial crime agency, has accused Chinese smartphone manufacturer Vivo and its Indian affiliates of visa violations and money laundering. This revelation comes amid escalating tension between India and China regarding business activities, following India's imposition of stricter investment regulations and a ban on numerous Chinese apps after border clashes in 2020.

The accusations against Vivo and its employees were detailed in a court filing that was not made public. These accusations follow the recent arrest of a Vivo executive, Guangwen Kuang, in connection with a money laundering investigation that began in 2022, targeting India's second-largest smartphone company.

The Indian financial crime agency disclosed that at least 30 Chinese individuals entered India on business visas but worked for Vivo without disclosing their employer in their visa applications, violating Indian visa conditions. These individuals were found to have travelled to sensitive areas, such as Jammu and Kashmir and Ladakh, without the necessary permits.

Vivo, which holds a market share of 17 per cent, expressed concern over the executive's arrest and reaffirmed its commitment to legal compliance.

In the ongoing border dispute between India and China in the western Himalayas, both countries claim large areas of land controlled by the other. India restricts the entry and residence of foreigners in designated "protected" areas in Ladakh and parts of Jammu and Kashmir, requiring a permit in addition to a visa.

The Enforcement Directorate had previously raided 48 sites associated with Vivo and its affiliates in connection with the money laundering investigation. The agency accused the company of funnelling money to China through indirectly controlled firms to evade Indian taxes. The latest court filing revealed that Vivo had remitted 1.07 trillion rupees ($12.87 billion) outside India to trading companies controlled by its Chinese parent, using a "masking layer" to avoid government detection.

Despite showing no profits in statutory filings from 2014-15 to 2019-20 and not paying income taxes, the Enforcement Directorate pointed out that significant sums of money had been siphoned out of India. In July of the previous year, the agency had estimated that approximately 624.7 billion rupees ($7.5 billion) had been remitted, mainly to China.

(With inputs from Reuters)

The Enforcement Directorate, the Indian financial crime agency, has accused Chinese smartphone manufacturer Vivo and its Indian affiliates of visa violations and money laundering.

The Enforcement Directorate, the Indian financial crime agency, has accused Chinese smartphone manufacturer Vivo and its Indian affiliates of visa violations and money laundering. This revelation comes amid escalating tension between India and China regarding business activities, following India's imposition of stricter investment regulations and a ban on numerous Chinese apps after border clashes in 2020. The accusations against Vivo and its employees were detailed in a court filing that was not made public. These accusations follow the recent arrest of a Vivo executive, Guangwen Kuang, in connection with a money laundering investigation that began in 2022, targeting India's second-largest smartphone company. The Indian financial crime agency disclosed that at least 30 Chinese individuals entered India on business visas but worked for Vivo without disclosing their employer in their visa applications, violating Indian visa conditions. These individuals were found to have travelled to sensitive areas, such as Jammu and Kashmir and Ladakh, without the necessary permits. Vivo, which holds a market share of 17 per cent, expressed concern over the executive's arrest and reaffirmed its commitment to legal compliance. In the ongoing border dispute between India and China in the western Himalayas, both countries claim large areas of land controlled by the other. India restricts the entry and residence of foreigners in designated "protected" areas in Ladakh and parts of Jammu and Kashmir, requiring a permit in addition to a visa. The Enforcement Directorate had previously raided 48 sites associated with Vivo and its affiliates in connection with the money laundering investigation. The agency accused the company of funnelling money to China through indirectly controlled firms to evade Indian taxes. The latest court filing revealed that Vivo had remitted 1.07 trillion rupees ($12.87 billion) outside India to trading companies controlled by its Chinese parent, using a "masking layer" to avoid government detection. Despite showing no profits in statutory filings from 2014-15 to 2019-20 and not paying income taxes, the Enforcement Directorate pointed out that significant sums of money had been siphoned out of India. In July of the previous year, the agency had estimated that approximately 624.7 billion rupees ($7.5 billion) had been remitted, mainly to China. (With inputs from Reuters)

Indian probe agency accuses Vivo of visa violations, laundering $13 billion

In a significant development, the Enforcement Directorate (ED) of India has made a series of arrests linked to Chinese smartphone manufacturer Vivo in an ongoing money-laundering investigation. &nbsp;

The most recent arrest involves a Chinese national employed by Vivo, adding to the company's woes in a crucial market. The arrested individual has been sent to a three-day custody by an Indian court. &nbsp;

According to The Economic Times, the arrested Chinese national, Guangwen Kyang, is also known as Andrew Kuang. In addition to Kuang, Lava International's Managing Director, Hari Om Rai, another company executive named Rajan Malik, and chartered accountant Nitin Garg have been taken into custody.

While the ED sought a ten-day remand for the accused, the court has decided to keep them in custody until October 13. &nbsp;

Vivo has&nbsp;denied the allegations,&nbsp;expressing "deep concerns" about the situation and its intent to explore all available legal avenues.

The second-largest smartphone brand in India, commanding a 17 per cent market share, has been embroiled in a series of troubles within the country, casting a shadow on its operations.&nbsp;

Earlier this month, Indian police formally accused Vivo Mobile of assisting in the illegal transfer of funds to NewsClick, a news portal under investigation for spreading Chinese propaganda.&nbsp;

In August 2022, India's Directorate of Revenue Intelligence (DRI) issued a show-cause notice to Vivo, alleging that the company had evaded taxes amounting to 22.1 billion Indian rupees ($280 million).&nbsp;

Furthermore, in July 2022, India's financial crime agency blocked 119 bank accounts associated with Vivo's India operations and its affiliates, which held 4.65 billion rupees ($58.76 million). This action was taken as part of an investigation into alleged money laundering by the company.

(With inputs from Reuters)

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In a significant development, the Enforcement Directorate (ED) of India has made a series of arrests linked to Chinese smartphone manufacturer Vivo in an ongoing money-laundering investigation.

In a significant development, the Enforcement Directorate (ED) of India has made a series of arrests linked to Chinese smartphone manufacturer Vivo in an ongoing money-laundering investigation. The most recent arrest involves a Chinese national employed by Vivo, adding to the company's woes in a crucial market. The arrested individual has been sent to a three-day custody by an Indian court. According to The Economic Times, the arrested Chinese national, Guangwen Kyang, is also known as Andrew Kuang. In addition to Kuang, Lava International's Managing Director, Hari Om Rai, another company executive named Rajan Malik, and chartered accountant Nitin Garg have been taken into custody. While the ED sought a ten-day remand for the accused, the court has decided to keep them in custody until October 13. Vivo has denied the allegations, expressing "deep concerns" about the situation and its intent to explore all available legal avenues. The second-largest smartphone brand in India, commanding a 17 per cent market share, has been embroiled in a series of troubles within the country, casting a shadow on its operations. Earlier this month, Indian police formally accused Vivo Mobile of assisting in the illegal transfer of funds to NewsClick, a news portal under investigation for spreading Chinese propaganda. In August 2022, India's Directorate of Revenue Intelligence (DRI) issued a show-cause notice to Vivo, alleging that the company had evaded taxes amounting to 22.1 billion Indian rupees ($280 million). Furthermore, in July 2022, India's financial crime agency blocked 119 bank accounts associated with Vivo's India operations and its affiliates, which held 4.65 billion rupees ($58.76 million). This action was taken as part of an investigation into alleged money laundering by the company. (With inputs from Reuters) WATCH WION LIVE HERE

Vivo's India troubles deepen with arrests in money laundering case

Gabon's ousted president Ali Bongo Ondimba's wife, Sylvia Bongo Ondimba Valentin, was charged with "money laundering", the public prosecutor said on Friday (Sep 29), a month after the army overthrew her husband in a coup.

Along with Sylvia Bongo, one of the couple's sons has also been accused of having pulled the strings in the oil-rich country by the coup leader.

Their eldest son, Noureddin Bongo Valentin, has already been charged with corruption and misappropriation of public funds with several former cabinet members and two ex-ministers.&nbsp;

Sylvia Bongo was, on Thursday (Sep 28), charged by an investigating judge and was further ordered to remain under house arrest, Andre Patrick Roponat announced on state TV channels.

Roponat said that she also faces other charges, including concealment and forgery.

Sylvia Bongo has been under house arrest in the capital Libreville since the August 30 coup.

She has been isolated from her husband and her French lawyers filed a complaint in Paris against what they stated "appears to be a hostage-taking".

"No one is above the law but the law must be respected for all," one of her lawyers Francois Zimeray told news agency AFP on Friday (Sep 29).

Also read:&nbsp;<a href="https://www.wionews.com/world/us-californias-longest-serving-senator-dianne-feinstein-dies-at-90-who-was-she-641024">US: California’s longest-serving Senator Dianne Feinstein dies at 90</a>

"What to think of a justice system which keeps people in solitary confinement for weeks before charging them, without having access to a defence?"

<h2>Bongo's corrupt practices</h2>

Military officers of the Central African nation Gabon announced on August 30 that they had taken power "on behalf of the Gabonese people" and that they were "putting an end to the current regime". The coup occurred just after the results of the country's general elections were announced to pave the way for a third presidential term for Ali Bongo Ondimba, who over the years gained notoriety for his alleged corrupt practices.

"The general elections of August 26, 2023, as well as the truncated results, are cancelled. The borders are closed until further notice. All institutions of the Republic are dissolved," a military officer announced on television.&nbsp;

The military described the August 26 elections as having not met the conditions for a transparent ballot. "In addition, irresponsible, unpredictable governance has led to a steady deterioration in social cohesion, threatening to drive the country into chaos," the military officer reasoned.&nbsp;

(With inputs from agencies)

 
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Gabon's ousted president Ali Bongo Ondimba's wife, Sylvia Bongo Ondimba Valentin, was charged with "money laundering", the public prosecutor said on Friday (Sep 29), a month after the army overthrew her husband in a coup.

Gabon's ousted president Ali Bongo Ondimba's wife, Sylvia Bongo Ondimba Valentin, was charged with "money laundering", the public prosecutor said on Friday (Sep 29), a month after the army overthrew her husband in a coup. Along with Sylvia Bongo, one of the couple's sons has also been accused of having pulled the strings in the oil-rich country by the coup leader. Their eldest son, Noureddin Bongo Valentin, has already been charged with corruption and misappropriation of public funds with several former cabinet members and two ex-ministers. Sylvia Bongo was, on Thursday (Sep 28), charged by an investigating judge and was further ordered to remain under house arrest, Andre Patrick Roponat announced on state TV channels. Roponat said that she also faces other charges, including concealment and forgery. Sylvia Bongo has been under house arrest in the capital Libreville since the August 30 coup. She has been isolated from her husband and her French lawyers filed a complaint in Paris against what they stated "appears to be a hostage-taking". "No one is above the law but the law must be respected for all," one of her lawyers Francois Zimeray told news agency AFP on Friday (Sep 29). Also read: US: California’s longest-serving Senator Dianne Feinstein dies at 90 "What to think of a justice system which keeps people in solitary confinement for weeks before charging them, without having access to a defence?" Bongo's corrupt practices Military officers of the Central African nation Gabon announced on August 30 that they had taken power "on behalf of the Gabonese people" and that they were "putting an end to the current regime". The coup occurred just after the results of the country's general elections were announced to pave the way for a third presidential term for Ali Bongo Ondimba, who over the years gained notoriety for his alleged corrupt practices. "The general elections of August 26, 2023, as well as the truncated results, are cancelled. The borders are closed until further notice. All institutions of the Republic are dissolved," a military officer announced on television. The military described the August 26 elections as having not met the conditions for a transparent ballot. "In addition, irresponsible, unpredictable governance has led to a steady deterioration in social cohesion, threatening to drive the country into chaos," the military officer reasoned. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Gabon: Ousted president’s wife charged with ‘money laundering’ after corruption action on son

Convicted murderer Alex&nbsp;Murdaugh on Thursday (September 21) pleaded guilty to nearly two dozen fraud and money laundering charges&nbsp;in a federal court in Charleston, making it the first time he had accepted responsibility for his crimes.&nbsp;&nbsp;

Murdaugh pleaded guilty to 22 charges in total, which include 14 counts of money laundering,&nbsp;five counts of wire fraud,&nbsp;one count of bank fraud,&nbsp;one count of conspiracy to commit wire fraud and bank fraud; and&nbsp;one count of conspiracy to commit wire fraud.&nbsp;

While the majority of the charges carry a maximum federal sentence of 20 years, some carry a maximum sentence of 30 years, the court filings showed.&nbsp;

According to media reports, Murdaugh cried in the courtroom as he told the judge he was pleading guilty of his own free will.&nbsp;Murdaugh added he was doing so not only because he was guilty of the said crime but to also show his son Buster, that he was taking responsibility for his actions.&nbsp;

"I want to take responsibility. I want my son to see me take responsibility. It's my hope that by taking responsibility that the people I've hurt can begin to heal," said Murdaugh, clad in the&nbsp;orange South Carolina prison jumpsuit.

<a href="https://www.wionews.com/videos/us-alex-murdaugh-guilty-of-murdering-wife-son-568021">Watch |&nbsp;US: Alex Murdaugh guilty of murdering wife, son</a>

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Judge Richard Gergel, presiding over the case, heard Murdaugh's statement and later accepted and signed the plea agreement. He will now determine federal&nbsp;sentencing for Murdaugh at a later date.

“Alex Murdaugh’s financial crimes were extensive, brazen, and callous.&nbsp;He stole indiscriminately from his clients, from his law firm, and from others who trusted him. The US Attorney’s Office, the FBI, and SLED committed to investigating and prosecuting Murdaugh’s financial crimes when they first came to light. Today marks our fulfilment of that promise," said US&nbsp;Attorney Adair F.&nbsp;Boroughs during the proceedings.&nbsp;

<a href="https://www.wionews.com/world/explained-alex-murdaugh-scion-of-a-legal-dynasty-involved-in-trial-of-the-century-566691">Also read |&nbsp;Explained: Alex Murdaugh, scion of a legal dynasty involved in 'trial of the century'</a>

<h2>What does the deal say?</h2>

According to the plea agreement signed between Murdaugh and federal prosecutors, if the former cooperates and complies with the conditions set forth, the government attorneys will recommend to the court that any federal sentence he receives for these charges&nbsp;“be served concurrent to any state sentence served for the same conduct".&nbsp;

Currently, Murdaugh is serving a prison sentence without parole in a South Carolina jail for gunning down his wife and son at the family estate on&nbsp;June 7, 2021. The 55-year-old has denied any&nbsp;role in the killings and maintained his innocence before being convicted on two counts of murder earlier this year.&nbsp;

His team of lawyers last month filed a new motion, seeking a new trial, alleging that the&nbsp;Colleton County Clerk of Court tampered with the jury.

(With inputs from agencies)

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Convicted murderer Alex Murdaugh on Thursday (September 21) pleaded guilty to nearly two dozen fraud and money laundering charges in a federal court in Charleston, making it the first time he had accepted responsibility for his crimes.

Convicted murderer Alex Murdaugh on Thursday (September 21) pleaded guilty to nearly two dozen fraud and money laundering charges in a federal court in Charleston, making it the first time he had accepted responsibility for his crimes. Murdaugh pleaded guilty to 22 charges in total, which include 14 counts of money laundering, five counts of wire fraud, one count of bank fraud, one count of conspiracy to commit wire fraud and bank fraud; and one count of conspiracy to commit wire fraud. While the majority of the charges carry a maximum federal sentence of 20 years, some carry a maximum sentence of 30 years, the court filings showed. According to media reports, Murdaugh cried in the courtroom as he told the judge he was pleading guilty of his own free will. Murdaugh added he was doing so not only because he was guilty of the said crime but to also show his son Buster, that he was taking responsibility for his actions. "I want to take responsibility. I want my son to see me take responsibility. It's my hope that by taking responsibility that the people I've hurt can begin to heal," said Murdaugh, clad in the orange South Carolina prison jumpsuit. Watch | US: Alex Murdaugh guilty of murdering wife, son × Judge Richard Gergel, presiding over the case, heard Murdaugh's statement and later accepted and signed the plea agreement. He will now determine federal sentencing for Murdaugh at a later date. “Alex Murdaugh’s financial crimes were extensive, brazen, and callous. He stole indiscriminately from his clients, from his law firm, and from others who trusted him. The US Attorney’s Office, the FBI, and SLED committed to investigating and prosecuting Murdaugh’s financial crimes when they first came to light. Today marks our fulfilment of that promise," said US Attorney Adair F. Boroughs during the proceedings. Also read | Explained: Alex Murdaugh, scion of a legal dynasty involved in 'trial of the century' What does the deal say? According to the plea agreement signed between Murdaugh and federal prosecutors, if the former cooperates and complies with the conditions set forth, the government attorneys will recommend to the court that any federal sentence he receives for these charges “be served concurrent to any state sentence served for the same conduct". Currently, Murdaugh is serving a prison sentence without parole in a South Carolina jail for gunning down his wife and son at the family estate on June 7, 2021. The 55-year-old has denied any role in the killings and maintained his innocence before being convicted on two counts of murder earlier this year. His team of lawyers last month filed a new motion, seeking a new trial, alleging that the Colleton County Clerk of Court tampered with the jury. (With inputs from agencies) WATCH WION LIVE HERE:

Crying Murdaugh pleads guilty on 22 counts of fraud and money laundering charges

At G20, the premier forum for international economic cooperation, the world leaders reached a consensus on various key issues, one of which was countering terrorism and money laundering. The New Delhi Leaders' Declaration condemned terrorism in "all its forms and manifestations, including those on the basis of xenophobia, racism and other forms of intolerance, or in the name of religion or belief, recognising the commitment of all religions to peace. It constitutes one of the most serious threats to international peace and security."

The world leaders, through the declaration, also committed to boosting resources of the terrorist financing watchdog, the Financial Action Task Force (FATF).&nbsp;

Also Read | <a href="https://www.wionews.com/world/g20-summit-delegates-reach-compromise-on-language-to-describe-war-in-ukraine-says-report-634076">G20 Summit: Delegates reach compromise on language to describe war in Ukraine, says report</a>

"We commit to supporting the increasing resource needs of the Financial Action Task Force (FATF) and FATF Style Regional Bodies and encourage others to do the same, including for the next round of mutual evaluations."&nbsp;

India has always been using multilateral international platforms, such as the United Nations, to voice its concerns pertaining to terrorism and money laundering. New Delhi has long been facing the wrath of cross-border terrorism which is breeding on Pakistani soil across the border.&nbsp;&nbsp; &nbsp;&nbsp;

Also Read | <a href="https://www.wionews.com/trending/morocco-man-sets-his-priorities-right-holds-on-to-playstation-amid-earthquake-chaos-634052">Morocco man sets his priorities right, holds on to PlayStation amid earthquake chaos</a>

"We remain committed to the timely and global implementation of the revised FATF Standards on the transparency of beneficial ownership of legal persons and legal arrangements to make it more difficult for criminals to hide and launder ill-gotten gains. We welcome the ongoing work of the FATF to enhance global efforts to recover criminal proceeds, in particular, the progress made by the FATF towards revising its standards on asset recovery and reinforcing global asset recovery networks," the Delhi Declaration added.&nbsp;

<h2>Terror financing&nbsp;</h2>

India, along with other G20 member nations strongly condemned "all terrorist acts against critical infrastructure, including critical energy facilities, and against other vulnerable targets."&nbsp;

Watch | G20 Summit 2023: Macron to hold working lunch meeting with India's Modi&nbsp;

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The declaration called for a "holistic approach" on the basis of international law that can effectively counter terrorism.&nbsp;

"Efforts to increase the effectiveness of international cooperation should be strengthened to deny terrorist groups safe haven, freedom of operations, movement and recruitment, as well as financial, material or political support," it added.&nbsp;

<h2>Risks of emerging technologies&nbsp;</h2>

G20 member nations vowed to support the FATF's initiative "to accelerate the global implementation of its standards, including the “travel rule”, and its work on risks of emerging technologies and innovations, including decentralised finance (DeFi) arrangements and peer-to-peer transactions."&nbsp;

The Travel Rule is a set of guidelines designed to prevent money laundering and terrorist financing.

"We reiterate the importance of countries developing and implementing effective regulatory and supervisory frameworks to mitigate risks associated with virtual assets in line with FATF Standards, especially for terrorism financing, money laundering, and proliferation financing risks," the Delhi Declaration&nbsp;added.&nbsp;

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At G20, the premier forum for international economic cooperation, the world leaders reached a consensus on various key issues, one of which was countering terrorism and money laundering.

At G20, the premier forum for international economic cooperation, the world leaders reached a consensus on various key issues, one of which was countering terrorism and money laundering. The New Delhi Leaders' Declaration condemned terrorism in "all its forms and manifestations, including those on the basis of xenophobia, racism and other forms of intolerance, or in the name of religion or belief, recognising the commitment of all religions to peace. It constitutes one of the most serious threats to international peace and security." The world leaders, through the declaration, also committed to boosting resources of the terrorist financing watchdog, the Financial Action Task Force (FATF). Also Read | G20 Summit: Delegates reach compromise on language to describe war in Ukraine, says report "We commit to supporting the increasing resource needs of the Financial Action Task Force (FATF) and FATF Style Regional Bodies and encourage others to do the same, including for the next round of mutual evaluations." India has always been using multilateral international platforms, such as the United Nations, to voice its concerns pertaining to terrorism and money laundering. New Delhi has long been facing the wrath of cross-border terrorism which is breeding on Pakistani soil across the border. Also Read | Morocco man sets his priorities right, holds on to PlayStation amid earthquake chaos "We remain committed to the timely and global implementation of the revised FATF Standards on the transparency of beneficial ownership of legal persons and legal arrangements to make it more difficult for criminals to hide and launder ill-gotten gains. We welcome the ongoing work of the FATF to enhance global efforts to recover criminal proceeds, in particular, the progress made by the FATF towards revising its standards on asset recovery and reinforcing global asset recovery networks," the Delhi Declaration added. Terror financing India, along with other G20 member nations strongly condemned "all terrorist acts against critical infrastructure, including critical energy facilities, and against other vulnerable targets." Watch | G20 Summit 2023: Macron to hold working lunch meeting with India's Modi × The declaration called for a "holistic approach" on the basis of international law that can effectively counter terrorism. "Efforts to increase the effectiveness of international cooperation should be strengthened to deny terrorist groups safe haven, freedom of operations, movement and recruitment, as well as financial, material or political support," it added. Risks of emerging technologies G20 member nations vowed to support the FATF's initiative "to accelerate the global implementation of its standards, including the “travel rule”, and its work on risks of emerging technologies and innovations, including decentralised finance (DeFi) arrangements and peer-to-peer transactions." The Travel Rule is a set of guidelines designed to prevent money laundering and terrorist financing. "We reiterate the importance of countries developing and implementing effective regulatory and supervisory frameworks to mitigate risks associated with virtual assets in line with FATF Standards, especially for terrorism financing, money laundering, and proliferation financing risks," the Delhi Declaration added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

G20 leaders condemn terrorism, money laundering, term it 'most serious threat' to international peace

In massive raids against a rumored global money laundering conspiracy, Singaporean investigators have recovered assets worth close to US$750 million, police announced on Wednesday. Ten foreign people from China, Turkey, Cambodia, Cyprus, and Vanuatu were detained by the police during the operation, which was conducted on Tuesday and targeted places throughout the city-state.

Singapore: Police seizes $736 million in assets anti-laundering raids

Singapore on Tuesday (August 15) launched one of the biggest anti-money laundering operations the country has ever witnessed, leading to the seizure of assets worth $736 million.

South China Morning Post (SCMP) reported that Singapore Police Force (SPF) arrested 10 foreign nationals, including three Chinese, in the crackdown and seized cash, prime properties, luxury cars and other valuable assets.

The authorities said Wednesday it was a well-coordinated operation involving several agencies and more than 400 personnel, including those from the Criminal Investigation Department, Commercial Affairs Department (CAD), Special Operations Command or riot police, and Police Intelligence Department.

<h2>What are the allegations against those arrested?</h2>

According to the authorities, the group is allegedly involved in laundering money earned through criminal activities overseas, such as scams and online gambling.

Police said another 12 are assisting the investigations while eight people were put on the most-wanted list and are currently on the run.

The police identified them through extensive investigations, including the analysis of suspicious transaction reports (STRs) made by financial institutions about suspicious activity, as reported by Strait Times.

<h2>Police in action mode</h2>

The police have issued a prohibition of disposal orders for 94 properties and 50 vehicles, collectively valued at over S$815 million, along with various ornaments, bottles of liquor, and wine.

These orders prohibit the suspects from selling the mentioned properties and vehicles as the police open an investigation. 
 
In addition, the police have seized over 35 associated bank accounts, holding an estimated total balance exceeding S$110 million, to aid investigations and prevent the transfer of suspected criminal proceeds.

<a href="https://www.wionews.com/entertainment/hollywood/news-disney-to-close-lucasfilm-singapore-studio-amid-industry-challenges-and-restructuring-625711">Also read:&nbsp;Disney to close Lucasfilm Singapore studio amid industry challenges and restructuring</a>

Furthermore, the authorities have confiscated more than S$23 million in cash, over 250 luxury bags and watches, 120 electronic devices including computers and mobile phones, over 270 pieces of jewellery, two gold bars, and 11 documents containing information about virtual assets.

<h2>Singapore’s ‘zero tolerance’ policy</h2>

Singapore’s Commercial Affairs Department (CAD) said in a statement that they were committed to keeping their country from becoming a safe haven for financial criminals.

Watch:&nbsp;Indian woman jumps from cruise ship, dies in Singapore strait

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CAD director David Chew said, “We have zero tolerance for the use of Singapore as a safe haven for criminals or their families, nor for the abuse of our banking facilities."

“Our message to these criminals is simple – if we catch you, we will arrest you. If we find your ill-gotten gains, we will seize them. We will deal with you to the fullest extent of our laws,” he added.

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Singapore on Tuesday (August 15) launched one of the biggest anti-money laundering operations the country has ever witnessed, leading to the seizure of assets worth $736 million.

Singapore on Tuesday (August 15) launched one of the biggest anti-money laundering operations the country has ever witnessed, leading to the seizure of assets worth $736 million. South China Morning Post (SCMP) reported that Singapore Police Force (SPF) arrested 10 foreign nationals, including three Chinese, in the crackdown and seized cash, prime properties, luxury cars and other valuable assets. The authorities said Wednesday it was a well-coordinated operation involving several agencies and more than 400 personnel, including those from the Criminal Investigation Department, Commercial Affairs Department (CAD), Special Operations Command or riot police, and Police Intelligence Department. What are the allegations against those arrested? According to the authorities, the group is allegedly involved in laundering money earned through criminal activities overseas, such as scams and online gambling. Police said another 12 are assisting the investigations while eight people were put on the most-wanted list and are currently on the run. The police identified them through extensive investigations, including the analysis of suspicious transaction reports (STRs) made by financial institutions about suspicious activity, as reported by Strait Times. Police in action mode The police have issued a prohibition of disposal orders for 94 properties and 50 vehicles, collectively valued at over S$815 million, along with various ornaments, bottles of liquor, and wine. These orders prohibit the suspects from selling the mentioned properties and vehicles as the police open an investigation. In addition, the police have seized over 35 associated bank accounts, holding an estimated total balance exceeding S$110 million, to aid investigations and prevent the transfer of suspected criminal proceeds. Also read: Disney to close Lucasfilm Singapore studio amid industry challenges and restructuring Furthermore, the authorities have confiscated more than S$23 million in cash, over 250 luxury bags and watches, 120 electronic devices including computers and mobile phones, over 270 pieces of jewellery, two gold bars, and 11 documents containing information about virtual assets. Singapore’s ‘zero tolerance’ policy Singapore’s Commercial Affairs Department (CAD) said in a statement that they were committed to keeping their country from becoming a safe haven for financial criminals. Watch: Indian woman jumps from cruise ship, dies in Singapore strait × CAD director David Chew said, “We have zero tolerance for the use of Singapore as a safe haven for criminals or their families, nor for the abuse of our banking facilities." “Our message to these criminals is simple – if we catch you, we will arrest you. If we find your ill-gotten gains, we will seize them. We will deal with you to the fullest extent of our laws,” he added. WATCH WION LIVE HERE ×

Singapore’s massive anti-money laundering operation: Cash, assets worth $700mn seized, 10 arrested

UAE has come up with a plan to eradicate illicit financial crimes and money laundering in the country.

UAE approves anti-money laundering proposal

An accountability court in Pakistan acquitted Prime Minister Shehbaz Sharif and his family members on Thursday in a multi-million-dollar money laundering case after the anti-corruption agency failed to provide any solid evidence against them.

"An Accountability Court acquitted Prime Minister Shehbaz, his wife Nusrat, his son Hamza and daughter Javaria in the PKR 7 billion money laundering case filed by the National Accountability Bureau (NAB) in 2020," a court official told PTI.

The official said the court acquitted the premier and his family members after the NAB failed to provide any solid evidence against the suspects regarding the laundering of millions of dollars abroad, especially to the United Kingdom.

Also Read | <a href="https://www.wionews.com/business-economy/fed-fines-deutsche-bank-186-million-for-inefficient-action-to-restrain-money-laundering-617784">Fed fines Deutsche Bank $186 million for inefficient action to restrain money laundering</a>

The official further said the court, however, declared another daughter of the premier, Rabia Imran, a proclaimed offender and issued her an arrest warrant.

Rabia had left for the UK since she was named in the case.

The corruption case was filed by the NAB in 2020 during the tenure of Imran Khan's Pakistan Tehreek-e-Insaf government.

The Sharif family termed the case a political victimisation.

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In October last year, a special court of the Federal Investigation Agency also acquitted Shehbaz in the PKR 16 billion money laundering case.

On July 10, his son, Suleman Shahbaz, was also acquitted in the same case.

Pakistan Peoples Party (PPP) senior leader barrister Aitzaz Ahsan alleged that former Pakistan Army Chief Gen Qamar Javed Bajwa and the military establishment had rescued the Sharif family from conviction in corruption cases against them.

Watch | Israel: Protesters demand complete withdrawal of judicial bill

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"Bajwa sahib has rescued the Sharif family from conviction in cases and he has committed a big crime," Ahsan said He said the cases against Prime Minister Shehbaz, his elder brother former premier Nawaz Sharif and Maryam Nawaz Sharif were open-and-shut and their conviction was evident but they were rescued by the top man.

The ousted prime minister Khan had already declared that the Sharif family is given relief in court cases under a deal with the powerful military establishment.

Last month, the accountability court acquitted former prime minister and elder brother of Pakistan premier, Nawaz Sharif, in a case of alleged illegal allotment of plots in Punjab province in 1986.

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An accountability court in Pakistan acquitted Prime Minister Shehbaz Sharif and his family members on Thursday in a multi-million-dollar money laundering case after the anti-corruption agency failed to provide any solid evidence against them.

An accountability court in Pakistan acquitted Prime Minister Shehbaz Sharif and his family members on Thursday in a multi-million-dollar money laundering case after the anti-corruption agency failed to provide any solid evidence against them. "An Accountability Court acquitted Prime Minister Shehbaz, his wife Nusrat, his son Hamza and daughter Javaria in the PKR 7 billion money laundering case filed by the National Accountability Bureau (NAB) in 2020," a court official told PTI. The official said the court acquitted the premier and his family members after the NAB failed to provide any solid evidence against the suspects regarding the laundering of millions of dollars abroad, especially to the United Kingdom. Also Read | Fed fines Deutsche Bank $186 million for inefficient action to restrain money laundering The official further said the court, however, declared another daughter of the premier, Rabia Imran, a proclaimed offender and issued her an arrest warrant. Rabia had left for the UK since she was named in the case. The corruption case was filed by the NAB in 2020 during the tenure of Imran Khan's Pakistan Tehreek-e-Insaf government. The Sharif family termed the case a political victimisation. Also Read | Robots for sex? Expert warns AI can 'eliminate' the need for human partners In October last year, a special court of the Federal Investigation Agency also acquitted Shehbaz in the PKR 16 billion money laundering case. On July 10, his son, Suleman Shahbaz, was also acquitted in the same case. Pakistan Peoples Party (PPP) senior leader barrister Aitzaz Ahsan alleged that former Pakistan Army Chief Gen Qamar Javed Bajwa and the military establishment had rescued the Sharif family from conviction in corruption cases against them. Watch | Israel: Protesters demand complete withdrawal of judicial bill × "Bajwa sahib has rescued the Sharif family from conviction in cases and he has committed a big crime," Ahsan said He said the cases against Prime Minister Shehbaz, his elder brother former premier Nawaz Sharif and Maryam Nawaz Sharif were open-and-shut and their conviction was evident but they were rescued by the top man. The ousted prime minister Khan had already declared that the Sharif family is given relief in court cases under a deal with the powerful military establishment. Last month, the accountability court acquitted former prime minister and elder brother of Pakistan premier, Nawaz Sharif, in a case of alleged illegal allotment of plots in Punjab province in 1986. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Pak court acquits PM Shehbaz Sharif in money laundering case

The US Federal Reserve on Wednesday imposed a $186 million fine on Deutsche Bank’s New York branch&nbsp;for ‘unsafe practices’, including inadequate action towards money laundering control and additional shortcomings.

The fine was levied based on preceding matters concerning deficient controls in Deutsche Bank's&nbsp;ties with the Estonian branch of Denmark’s Danske Bank in 2015 and 2017. The Federal Reserve further added that the German bank must resolve issues and strengthen&nbsp;its&nbsp;data and risk management.

As per a Moneycontrol report, the fine&nbsp;came&nbsp;after Deutsche Bank disbursed about $630 million in 2017 to terminate investigations by the US and the UK concerning Russian equity traders.&nbsp;In the same year, the German lender was also charged $41 million for non-compliance with anti-money laundering activities.

Deutsche Bank stated that it was “positioned to meet regulator’s expectations” and that the bank would resolve the issues in the near future.

As per a Reuters report, the Joe Biden’s government has promised to restrict the recurring corporate offenders and illegal funds in the US financial system. The new fine poses a significant challenge to Stefan Simon, who took over Deutsche Bank's&nbsp;US operations this year.

The German lender has consistently been struggling to maintain firm ties with US and European regulators. German and US regulators are investigating&nbsp;the lender over deceptive marketing claims at the management firm DWS, a sister organisation.&nbsp;

In 2021, the bank paid $125 million in an attempt to avoid suit on allegations for involvement in foreign bribery schemes and collusion of the precious metals market. Additionally, Deutsche also paid $75 million to resolve a charge concerning sex trafficking and women being abused by the late financer Jeffery Epstein. In&nbsp;the same year, the&nbsp;bank settled to pay $200 million to the US Securities and Exchange Commission due to electronic record-keeping failures.&nbsp;

(With inputs&nbsp;from Reuters)

The US Federal Reserve on Wednesday imposed a $186 million fine on Deutsche Bank’s New York branch for ‘unsafe practices’, including inadequate action towards money laundering control and additional shortcomings.

The US Federal Reserve on Wednesday imposed a $186 million fine on Deutsche Bank’s New York branch for ‘unsafe practices’, including inadequate action towards money laundering control and additional shortcomings. The fine was levied based on preceding matters concerning deficient controls in Deutsche Bank's ties with the Estonian branch of Denmark’s Danske Bank in 2015 and 2017. The Federal Reserve further added that the German bank must resolve issues and strengthen its data and risk management. As per a Moneycontrol report, the fine came after Deutsche Bank disbursed about $630 million in 2017 to terminate investigations by the US and the UK concerning Russian equity traders. In the same year, the German lender was also charged $41 million for non-compliance with anti-money laundering activities. Deutsche Bank stated that it was “positioned to meet regulator’s expectations” and that the bank would resolve the issues in the near future. As per a Reuters report, the Joe Biden’s government has promised to restrict the recurring corporate offenders and illegal funds in the US financial system. The new fine poses a significant challenge to Stefan Simon, who took over Deutsche Bank's US operations this year. The German lender has consistently been struggling to maintain firm ties with US and European regulators. German and US regulators are investigating the lender over deceptive marketing claims at the management firm DWS, a sister organisation. In 2021, the bank paid $125 million in an attempt to avoid suit on allegations for involvement in foreign bribery schemes and collusion of the precious metals market. Additionally, Deutsche also paid $75 million to resolve a charge concerning sex trafficking and women being abused by the late financer Jeffery Epstein. In the same year, the bank settled to pay $200 million to the US Securities and Exchange Commission due to electronic record-keeping failures. (With inputs from Reuters)

Fed fines Deutsche Bank $186 million for inefficient action to restrain money laundering

George Santos, a newly elected Republican who has defied calls to resign for fabricating his resume, was detained on federal accusations of fraud, money laundering, and theft of public funds on Wednesday. This is the latest blow to Santos.

Santos, 34, is accused of deceiving potential political supporters by laundering money to pay for his personal costs and fraudulently collecting unemployment benefits while he was employed in the 13-count indictment, which was released on Wednesday, reported Reuters.

Additionally, he is charged with lying to the House of Representatives about his possessions, earnings, and debts.

"Taken together, the allegations in the indictment charge Santos with relying on repeated dishonesty and deception to ascend to the halls of Congress and enrich himself," Breon Peace, the US&nbsp;Attorney for the Eastern District of New York, said in a statement.

"He used political contributions to line his pockets, unlawfully applied for unemployment benefits that should have gone to New Yorkers who had lost their jobs due to the pandemic, and lied to the House of Representatives," Peace said.

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Requests for comment regarding the indictment were forwarded to Santos' attorney via his congressional office by Reuters, but&nbsp;did not immediately elicit a response from Santos' defence counsel.

Top House Republicans, who currently have a tenuous 222-213 majority in the body, have said they will reserve judgment on Santos. According to Speaker Kevin McCarthy, "In America, you're innocent until proven guilty."

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Republican Rep. George Santos says his indictment is a “witch hunt,” he plans to run for reelection, and “life is as bad as it gets,” but he’s fine because he will be “a chairman of a committee in a couple of years.” <a href="https://t.co/BFhGZBVQIe">pic.twitter.com/BFhGZBVQIe</a>
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A short time after Santos was chosen to represent an affluent section of Long Island, New York, in 2022, the New York Times and other media sources exposed that he had made up practically all of his personal and professional past.

ALSO WATCH |&nbsp;Gravitas: Trump proven guilty of sexually abusing a writer

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The criminal charges follow a barrage of scandals that have weighed Santos down since before he was sworn into Congress in January. The&nbsp;Republican weeks earlier announced his 2024 reelection campaign, snubbing critics from both parties who urged&nbsp;for his resignation.

Santos faces a maximum penalty of 20 years in jail&nbsp;for the top charges against him, according to the Justice Department, reported CNBC.&nbsp;

Santos, 34, who surrendered Wednesday morning, has been charged with seven counts of wire fraud, three counts of money laundering, one count of theft of public funds and two counts of making materially false statements to the House of Representatives, and&nbsp;pleaded not guilty at a Long Island courthouse to a 13-count federal indictment unsealed by the Justice Department.

He was released on $500,000 bond at an 11-minute hearing and is due in court again June 30. Santos must submit to pretrial services, have random monitoring at his home and surrender his passport, and must&nbsp;get&nbsp;any travel outside New York state and Washington, D.C., approved by the court.

(With inputs from agencies) 
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George Santos, a newly elected Republican who has defied calls to resign for fabricating his resume, was detained on federal accusations of fraud, money laundering, and theft of public funds on Wednesday.

George Santos, a newly elected Republican who has defied calls to resign for fabricating his resume, was detained on federal accusations of fraud, money laundering, and theft of public funds on Wednesday. This is the latest blow to Santos. Santos, 34, is accused of deceiving potential political supporters by laundering money to pay for his personal costs and fraudulently collecting unemployment benefits while he was employed in the 13-count indictment, which was released on Wednesday, reported Reuters. Additionally, he is charged with lying to the House of Representatives about his possessions, earnings, and debts. "Taken together, the allegations in the indictment charge Santos with relying on repeated dishonesty and deception to ascend to the halls of Congress and enrich himself," Breon Peace, the US Attorney for the Eastern District of New York, said in a statement. "He used political contributions to line his pockets, unlawfully applied for unemployment benefits that should have gone to New Yorkers who had lost their jobs due to the pandemic, and lied to the House of Representatives," Peace said. ALSO READ | US President Biden to host India's PM Modi on June 22: White House Requests for comment regarding the indictment were forwarded to Santos' attorney via his congressional office by Reuters, but did not immediately elicit a response from Santos' defence counsel. Top House Republicans, who currently have a tenuous 222-213 majority in the body, have said they will reserve judgment on Santos. According to Speaker Kevin McCarthy, "In America, you're innocent until proven guilty." Disclaimer: WION cannot independently verify photos and videos shared on social media. Republican Rep. George Santos says his indictment is a “witch hunt,” he plans to run for reelection, and “life is as bad as it gets,” but he’s fine because he will be “a chairman of a committee in a couple of years.” pic.twitter.com/BFhGZBVQIe — Keith Boykin (@keithboykin) May 10, 2023 × A short time after Santos was chosen to represent an affluent section of Long Island, New York, in 2022, the New York Times and other media sources exposed that he had made up practically all of his personal and professional past. ALSO WATCH | Gravitas: Trump proven guilty of sexually abusing a writer The criminal charges follow a barrage of scandals that have weighed Santos down since before he was sworn into Congress in January. The Republican weeks earlier announced his 2024 reelection campaign, snubbing critics from both parties who urged for his resignation. Santos faces a maximum penalty of 20 years in jail for the top charges against him, according to the Justice Department, reported CNBC. Santos, 34, who surrendered Wednesday morning, has been charged with seven counts of wire fraud, three counts of money laundering, one count of theft of public funds and two counts of making materially false statements to the House of Representatives, and pleaded not guilty at a Long Island courthouse to a 13-count federal indictment unsealed by the Justice Department. He was released on $500,000 bond at an 11-minute hearing and is due in court again June 30. Santos must submit to pretrial services, have random monitoring at his home and surrender his passport, and must get any travel outside New York state and Washington, D.C., approved by the court. (With inputs from agencies) WATCH WION LIVE HERE:

US Rep George Santos arrested on fraud, money laundering charges

Pakistan Prime Minister Shehbaz Sharif and his son&nbsp;Hamza have been declared innocent in the money laundering case after&nbsp;the anti-graft body - National Accountability Bureau (NAB), concluded a reinvestigation.&nbsp;

A supplementary report was submitted and presented before Accountability Court Judge&nbsp;Qamar-uz-Zaman, according to Pakistani media reports.&nbsp;

The supplementary report stated that Sharif, his wife&nbsp;Nusrat Shehbaz, his son Hamza Shehbaz, and other accused were found to have no involvement in the money laundering scheme. It added that corruption allegations could not be proved or substantiated under the&nbsp;NAB Amendment Act.

The court, during the hearing, also approved Hamza's petition wherein he sought an exemption from attendance on medical grounds. However, further proceedings have been adjourned till May 24, while interim bails of&nbsp;Haroon Yousaf Aziz and&nbsp;Syed Muhammad Tahir Naqvi - the other co-accused, have been extended till then.&nbsp;

<h2>What is the money laundering case?</h2>

71-year-old Shehbaz, and his sons Hamza, 47, and Suleman, 40, were booked in November 2020 by the Federal Investigation Agency (FIA) under various sections of the Prevention of Corruption Act and Anti-Money Laundering Act.

According to the FIA report submitted in the court, the probe team&nbsp;"detected 28 benami accounts of the Shehbaz family through which money laundering of Rs 16.3 billion&nbsp;was committed during 2008-18. The FIA examined the money trail of 17,000 credit transactions."

<a href="https://www.wionews.com/videos/shehbaz-sharif-booked-for-money-laundering-case-during-2008-18-474595">WATCH |&nbsp;Shehbaz Sharif booked for money laundering case during 2008-18</a>

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Benami transactions are those transactions that are made by a person without using their name or by using the name of another. The amount was kept in hidden accounts and allegedly given to Shehbaz in a personal capacity, the probe found initially.

However, Shehbaz kept vouching for his innocence throughout the court proceedings, saying he even used to give up his salary.&nbsp;

“I never committed a single penny of corruption nor received any kickbacks in any project during my tenure as the chief minister of Punjab. During my tenure, I would give up my salary and other perks amounting to Rs 100 million,” said Shehbaz during one of the hearings.&nbsp;

<a href="https://www.wionews.com/south-asia/i-never-committed-a-single-penny-of-corruption-pakistan-pm-shehbaz-sharif-pleads-in-court-523665">ALSO READ |&nbsp;'I never committed a single penny of corruption', Pakistan PM Shehbaz Sharif pleads in court</a>

In September last year,&nbsp;13 bank accounts of companies&nbsp;related to Sharif and Suleman were frozen by the special court.&nbsp;Besides, the special court also issued show-cause notices to the officials of different banks for not adhering to an earlier order over the attachment of the accounts owned by two other proclaimed offenders.

The judgment, however, is likely is divide the Pakistani civil society further as it comes a day after riots broke out in parts of the country following the arrest of former prime minister Imran Khan.&nbsp;

(With inputs from agencies)

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Pakistan Prime Minister Shehbaz Sharif and his son Hamza have been declared innocent in the money laundering case after the anti-graft body - National Accountability Bureau (NAB), concluded a reinvestigation.

Pakistan Prime Minister Shehbaz Sharif and his son Hamza have been declared innocent in the money laundering case after the anti-graft body - National Accountability Bureau (NAB), concluded a reinvestigation. A supplementary report was submitted and presented before Accountability Court Judge Qamar-uz-Zaman, according to Pakistani media reports. The supplementary report stated that Sharif, his wife Nusrat Shehbaz, his son Hamza Shehbaz, and other accused were found to have no involvement in the money laundering scheme. It added that corruption allegations could not be proved or substantiated under the NAB Amendment Act. The court, during the hearing, also approved Hamza's petition wherein he sought an exemption from attendance on medical grounds. However, further proceedings have been adjourned till May 24, while interim bails of Haroon Yousaf Aziz and Syed Muhammad Tahir Naqvi - the other co-accused, have been extended till then. What is the money laundering case? 71-year-old Shehbaz, and his sons Hamza, 47, and Suleman, 40, were booked in November 2020 by the Federal Investigation Agency (FIA) under various sections of the Prevention of Corruption Act and Anti-Money Laundering Act. According to the FIA report submitted in the court, the probe team "detected 28 benami accounts of the Shehbaz family through which money laundering of Rs 16.3 billion was committed during 2008-18. The FIA examined the money trail of 17,000 credit transactions." WATCH | Shehbaz Sharif booked for money laundering case during 2008-18 × Benami transactions are those transactions that are made by a person without using their name or by using the name of another. The amount was kept in hidden accounts and allegedly given to Shehbaz in a personal capacity, the probe found initially. However, Shehbaz kept vouching for his innocence throughout the court proceedings, saying he even used to give up his salary. “I never committed a single penny of corruption nor received any kickbacks in any project during my tenure as the chief minister of Punjab. During my tenure, I would give up my salary and other perks amounting to Rs 100 million,” said Shehbaz during one of the hearings. ALSO READ | 'I never committed a single penny of corruption', Pakistan PM Shehbaz Sharif pleads in court In September last year, 13 bank accounts of companies related to Sharif and Suleman were frozen by the special court. Besides, the special court also issued show-cause notices to the officials of different banks for not adhering to an earlier order over the attachment of the accounts owned by two other proclaimed offenders. The judgment, however, is likely is divide the Pakistani civil society further as it comes a day after riots broke out in parts of the country following the arrest of former prime minister Imran Khan. (With inputs from agencies) WATCH WION LIVE HERE

Pakistan PM Shehbaz Sharif and son declared innocent in money laundering case

Former Malaysian prime minister Muhyiddin Yassin was on Friday charged with multiple counts of corruption and money laundering, making him the second leader in the country’s history to be indicted after leaving office.

A Kuala Lumpur court is hearing the matter related to an economic recovery project launched by his government, the Malaysian Anti-Corruption Commission (MACC) said, according to Reuters news agency.

He was briefly arrested on Thursday before being released on bail.

It comes only three months after Muhyiddin lost a closely fought general election to Anwar Ibrahim. Local media reports claimed that the charges are likely to increase political tensions in Malaysia, which has seen four prime ministers since 2018.

Muhyiddin has denied accusations of wrongdoing and described them as political vendetta. He claimed that the charges were to embarrass him and cripple his Islamist-dominated alliance, which has strong support among ethnic Malays who account for about two-thirds of Malaysia's 33 million people.

On Friday, while speaking to reporters, Muhyiddin said he would face seven charges.

"I stress that I am not guilty and I will face all charges against me in court... This action is political persecution because they fear the strength of Perikatan Nasional," Muhyiddin was quoted as saying by Reuters.

If the 72-year-old is found guilty, he could face up to 20 years in prison for each of the corruption charges, 15 years each for money laundering and fines.

After coming to power in November, incumbent PM Anwar Ibrahim launched a probe of the government projects approved by past administrations including Muhyiddin, who helmed the post from March 2020 until August 2021.

Recently, two senior members from Muhyiddin's Bersatu party were charged with corruption. The anti-graft agency has also frozen Bersatu's party accounts.

(With inputs from agencies)

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Former Malaysian prime minister Muhyiddin Yassin was on Friday charged with multiple counts of corruption and money laundering, making him the second leader in the country’s history to be indicted after leaving office.

Former Malaysian prime minister Muhyiddin Yassin was on Friday charged with multiple counts of corruption and money laundering, making him the second leader in the country’s history to be indicted after leaving office. A Kuala Lumpur court is hearing the matter related to an economic recovery project launched by his government, the Malaysian Anti-Corruption Commission (MACC) said, according to Reuters news agency. He was briefly arrested on Thursday before being released on bail. It comes only three months after Muhyiddin lost a closely fought general election to Anwar Ibrahim. Local media reports claimed that the charges are likely to increase political tensions in Malaysia, which has seen four prime ministers since 2018. Muhyiddin has denied accusations of wrongdoing and described them as political vendetta. He claimed that the charges were to embarrass him and cripple his Islamist-dominated alliance, which has strong support among ethnic Malays who account for about two-thirds of Malaysia's 33 million people. On Friday, while speaking to reporters, Muhyiddin said he would face seven charges. "I stress that I am not guilty and I will face all charges against me in court... This action is political persecution because they fear the strength of Perikatan Nasional," Muhyiddin was quoted as saying by Reuters. If the 72-year-old is found guilty, he could face up to 20 years in prison for each of the corruption charges, 15 years each for money laundering and fines. After coming to power in November, incumbent PM Anwar Ibrahim launched a probe of the government projects approved by past administrations including Muhyiddin, who helmed the post from March 2020 until August 2021. Recently, two senior members from Muhyiddin's Bersatu party were charged with corruption. The anti-graft agency has also frozen Bersatu's party accounts. (With inputs from agencies) WATCH WION LIVE HERE

Malaysia’s ex-PM Muhyiddin Yassin charged with corruption, money laundering

Former Malaysian Prime Minister Muhyiddin Yassin was charged on Friday with abuse of power and money laundering over projects launched under his premiership, accusations that he said were politically motivated.

Former Malaysian PM Muhyiddin charged with corruption, pleads not guilty | Latest English News

The fortune of Farhat Shahzadi, a close friend of the wife of former Pakistani Prime Minister Imran Khan, increased drastically (almost four times)&nbsp;while he was in office, as reported by&nbsp;The News International.&nbsp;

While Imran Khan urged Pakistanis living abroad to invest in the nation, Farhat Shahzadi and her family were busy growing their enterprises in other countries and setting up firms in the United Kingdom, as per ANI reports.

During the tenure of Imran Khan's administration, the family of Farhat Shahzadi formed or purchased four firms in the UK whose stated fields of operation are SIC or real estate.

Between 2019 and 2021, Farhat Shahzadi and her husband registered or purchased one company, while Farhat's sister did the same with three others.

Musarat Khan, the sister of Farhat Shahzadi, now owns or has previously owned a number of businesses in the UK.

Farhat Shahzadi, also known as Farah Khan or Farah Gogi, and her husband Ahsan Iqbal Jamil have been the subject of significant corruption charges and are presently residing overseas.

ALSO WATCH |&nbsp;Pakistan media watchdog bans airing former prime minister Imran Khan's speeches

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According to The News International, Imran Khan, however, has described these accusations as political victimisation on the part of the current administration.

Imran Khan, the leader of Pakistan Tehreek-e-Insaf (PTI), has defended Farhat Shahzadi at a news conference. The government intends to extradite them back to Pakistan via Interpol after the FIA filed a case against her in accordance with the Anti-Money Laundering Act.

Farah Khan's fortune rose exponentially during Imran Khan's leadership. During 2018, her stated wealth climbed by more than four times. On May 14, 2020, Farah Khan, her husband Ahsan Iqbal Jamil, and three other partners purchased the British firm Goldstar Euro Ltd, according to The News International.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/gop-presidential-hopeful-vivek-ramaswamy-vows-to-ban-us-companies-doing-business-with-china-568961">GOP presidential hopeful Vivek Ramaswamy vows to ban US companies doing business with China</a>

Before Imran Khan took office, a news source said that Farah Khan's stated assets were valued at PKR 231,635,297 in 2017. Farah's stated assets, however, rose to PKR 971 million in 2021 during the first three years of Imran Khan's administration.

The 2019 Tax Amnesty Programme was used by Farah Khan and her husband as part of Imran Khan's administration to whiten their black money. According to a news report, the couple disclosed PKR 328.7 million and PKR 20 million under the Tax Amnesty Program 2019.

(With inputs from agencies)

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The fortune of Farhat Shahzadi, a close friend of the wife of former Pakistani Prime Minister Imran Khan, increased drastically (almost four times) while he was in office, as reported by The News International.

The fortune of Farhat Shahzadi, a close friend of the wife of former Pakistani Prime Minister Imran Khan, increased drastically (almost four times) while he was in office, as reported by The News International. While Imran Khan urged Pakistanis living abroad to invest in the nation, Farhat Shahzadi and her family were busy growing their enterprises in other countries and setting up firms in the United Kingdom, as per ANI reports. During the tenure of Imran Khan's administration, the family of Farhat Shahzadi formed or purchased four firms in the UK whose stated fields of operation are SIC or real estate. Between 2019 and 2021, Farhat Shahzadi and her husband registered or purchased one company, while Farhat's sister did the same with three others. Musarat Khan, the sister of Farhat Shahzadi, now owns or has previously owned a number of businesses in the UK. Farhat Shahzadi, also known as Farah Khan or Farah Gogi, and her husband Ahsan Iqbal Jamil have been the subject of significant corruption charges and are presently residing overseas. ALSO WATCH | Pakistan media watchdog bans airing former prime minister Imran Khan's speeches According to The News International, Imran Khan, however, has described these accusations as political victimisation on the part of the current administration. Imran Khan, the leader of Pakistan Tehreek-e-Insaf (PTI), has defended Farhat Shahzadi at a news conference. The government intends to extradite them back to Pakistan via Interpol after the FIA filed a case against her in accordance with the Anti-Money Laundering Act. Farah Khan's fortune rose exponentially during Imran Khan's leadership. During 2018, her stated wealth climbed by more than four times. On May 14, 2020, Farah Khan, her husband Ahsan Iqbal Jamil, and three other partners purchased the British firm Goldstar Euro Ltd, according to The News International. ALSO READ | GOP presidential hopeful Vivek Ramaswamy vows to ban US companies doing business with China Before Imran Khan took office, a news source said that Farah Khan's stated assets were valued at PKR 231,635,297 in 2017. Farah's stated assets, however, rose to PKR 971 million in 2021 during the first three years of Imran Khan's administration. The 2019 Tax Amnesty Programme was used by Farah Khan and her husband as part of Imran Khan's administration to whiten their black money. According to a news report, the couple disclosed PKR 328.7 million and PKR 20 million under the Tax Amnesty Program 2019. (With inputs from agencies) WATCH WION LIVE HERE:

Wealth of Imran Khan's wife's friend increased fourfold during his administration: Report

A Botswana court has issued an arrest warrant for former president Ian Khama, who is facing 14 charges ranging from unlawful possession of firearms to money laundering. Khama was officially charged in absentia in April 2022 but has not made a single court appearance. But what really happened to this charismatic head-of-state, who fell out with his hand-picked successor and current president Masisi, forcing him to even flee to neighbouring South Africa?

World of Africa: Court orders arrest of Ex-Botswana president

The criminal court in the Maldives on Sunday (December 25) found former president Abdulla Yameen guilty of corruption and money laundering. The charges were related to receiving kickbacks from a private company.

The court said that the sentence will be announced soon. Yameen has denied the charges.

Yameen lost power in 2018. He was sentenced to five years in jail and was fined USD 5 million in 2019 for embezzling $1 million in state funds. At the time, the prosecution had said that the funds were acquired through the lease of resort development rights.&nbsp;

After his sentencing, Yameen was shifted to house arrest in 2020 but was freed months later.

Since his release, Yameen, the half-brother of former dictator Maumoon Abdul Gayoom, has returned to active politics with a campaign against Indian influence in Maldives, raising concerns in New Delhi.

Yameen is the declared presidential candidate for the Progressive Party of the Maldives for an election due in 2023.

Situated close to strategic shipping lanes in the Indian Ocean, Maldives is a focal point for competition between India and China over influence in the region.

(With inputs from agencies)

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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The criminal court in the Maldives on Sunday (December 25) found former president Abdulla Yameen guilty of corruption and money laundering. The charges were related to receiving kickbacks from a private company.

The criminal court in the Maldives on Sunday (December 25) found former president Abdulla Yameen guilty of corruption and money laundering. The charges were related to receiving kickbacks from a private company. The court said that the sentence will be announced soon. Yameen has denied the charges. Yameen lost power in 2018. He was sentenced to five years in jail and was fined USD 5 million in 2019 for embezzling $1 million in state funds. At the time, the prosecution had said that the funds were acquired through the lease of resort development rights. After his sentencing, Yameen was shifted to house arrest in 2020 but was freed months later. Since his release, Yameen, the half-brother of former dictator Maumoon Abdul Gayoom, has returned to active politics with a campaign against Indian influence in Maldives, raising concerns in New Delhi. Yameen is the declared presidential candidate for the Progressive Party of the Maldives for an election due in 2023. Situated close to strategic shipping lanes in the Indian Ocean, Maldives is a focal point for competition between India and China over influence in the region. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Former Maldives president Yameen found guilty of corruption

Amid the Russia-Ukraine conflict, the Russian paramilitary forces are summoning cryptocurrency donations to buy weaponry, armour, and drones warned Australian intelligence agency Austrac. Officials at the Australian Transaction Reports and Analysis Centre referred to cryptocurrency as a ‘standard part of money laundering tool kit’.

John Moss, the agency’s head executive and head of intelligence, claimed that cryptocurrency has become mainstream, The Guardian reported. "It is no more a niche option for criminal activity," he said.&nbsp;

As Moss expressed his concern over the donations made by Australians to terrorist groups, he mentioned that conventional money laundering methods have shifted to digital currency. The prime reason behind the switch is to send money offshore.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/un-to-roll-out-aid-in-cryptocurrency-for-displaced-ukrainians-543691">UN to roll out aid in cryptocurrency for displaced Ukrainians</a>

Moss states that 'cryptocurrency' is an easy-to-use fundraiser, especially when combined with social media. However, Michael Tink, Austrac's national manager of intelligence operations, believes that contemporary fundraising via digital currency is not wide-ranging.&nbsp;

Australians have sent&nbsp;digital money to organised terror groups like al-Qaeda and ISIL (Islamic State of Iraq and The Levant), according to Austrac.&nbsp;"This is organisational support for travel, training, salaries of fighters, and uniforms," mentioned Tink.&nbsp;

WATCH | Sam Bankman-Fried charged with 'epic fraud', next court hearing on January 3, 2023

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Earlier in 2022, UK's Financial Conduct Authority (FCA) shut down all the bitcoin ATMs. However, unlike the UK, Australia has a rapidly growing number of regulated crypto ATMs. Moss raised concerns over their illegal usage and the increase in the number of fraud cases.&nbsp;

The finance agency has regulated crypto-exchange providers for money laundering and counter-terrorism financing objectives. However, Tink claims that the case is not the same everywhere. "It is not difficult to cash out crypto-currencies and fly under the radar in parts of Eastern Europe," said Tink.&nbsp;

Furthermore, the senior official at Austrac believes that the crooks are at high risk due to the money laundering cycle's placement stage. He hailed the sector for the quality of suspicious activities and referred to crypto exchanges in Australia as 'first in the line of defence'.&nbsp;

(With inputs from agencies)

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&nbsp;

Amid the Russia-Ukraine conflict, the Russian paramilitary forces are summoning cryptocurrency donations to buy weaponry, armour, and drones warned Australian intelligence agency Austrac.

Amid the Russia-Ukraine conflict, the Russian paramilitary forces are summoning cryptocurrency donations to buy weaponry, armour, and drones warned Australian intelligence agency Austrac. Officials at the Australian Transaction Reports and Analysis Centre referred to cryptocurrency as a ‘standard part of money laundering tool kit’. John Moss, the agency’s head executive and head of intelligence, claimed that cryptocurrency has become mainstream, The Guardian reported. "It is no more a niche option for criminal activity," he said. As Moss expressed his concern over the donations made by Australians to terrorist groups, he mentioned that conventional money laundering methods have shifted to digital currency. The prime reason behind the switch is to send money offshore. ALSO READ | UN to roll out aid in cryptocurrency for displaced Ukrainians Moss states that 'cryptocurrency' is an easy-to-use fundraiser, especially when combined with social media. However, Michael Tink, Austrac's national manager of intelligence operations, believes that contemporary fundraising via digital currency is not wide-ranging. Australians have sent digital money to organised terror groups like al-Qaeda and ISIL (Islamic State of Iraq and The Levant), according to Austrac. "This is organisational support for travel, training, salaries of fighters, and uniforms," mentioned Tink. WATCH | Sam Bankman-Fried charged with 'epic fraud', next court hearing on January 3, 2023 Earlier in 2022, UK's Financial Conduct Authority (FCA) shut down all the bitcoin ATMs. However, unlike the UK, Australia has a rapidly growing number of regulated crypto ATMs. Moss raised concerns over their illegal usage and the increase in the number of fraud cases. The finance agency has regulated crypto-exchange providers for money laundering and counter-terrorism financing objectives. However, Tink claims that the case is not the same everywhere. "It is not difficult to cash out crypto-currencies and fly under the radar in parts of Eastern Europe," said Tink. Furthermore, the senior official at Austrac believes that the crooks are at high risk due to the money laundering cycle's placement stage. He hailed the sector for the quality of suspicious activities and referred to crypto exchanges in Australia as 'first in the line of defence'. (With inputs from agencies) WATCH WION LIVE HERE

Cryptocurrency being used for money laundering and terror funding: Australia’s intel agency

A major Australian gambling firm has been fined AU $100m ($62m) by the regulator for failing to stop money laundering and other criminal activities in its casinos.

According to reports, the Star Entertainment Group’s license to operate its Sydney casino has been suspended, and it will take effect on Friday.

The New South Wales (NSW) Independent Casino Commission's (NICC) action came in response to a report earlier this year which found that the Star’s Sydney casino was involved in money laundering and that it let organised crime thrive.

The report had blasted the operator for taking a "cavalier" approach in monitoring casinos’ activities and also accused it of trying to cover up its illicit actions.

In response to the report at that time, the casino operator pledged to do “whatever necessary” to restore its suitability as an operator and appointed an independent monitor as well as committed to a cultural overhaul.

Under the laws enacted by the NSW government in August, the maximum penalty that can be imposed is a $100 million fine.

On Monday, the regulator said that it won’t revoke the Star's licence altogether in order to protect thousands of jobs, and added that the Sydney casino would function under a manager appointed by the NSW Independent Casino Commission.

“From Friday the Star will not be able to run the casino on its own until it can earn its licence back,” regulatory chief Philip Crawford was quoted as saying by the BBC.

Several of the top executives of the Star group, including former chief executive Matt Bekier, had resigned in light of the scandal.

Robbie Cooke, who took over as the Star’s new chief executive, had earlier committed to restore&nbsp;the firm’s credibility.

“The business had lost its way in a number of areas, but I’m committed to rehabilitating it and restoring the group to suitability [to hold its casino licenses],” Cooke was quoted as saying.

(With inputs from agencies)

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A major Australian gambling firm has been fined AU $100m ($62m) by the regulator for failing to stop money laundering and other criminal activities in its casinos.

A major Australian gambling firm has been fined AU $100m ($62m) by the regulator for failing to stop money laundering and other criminal activities in its casinos. According to reports, the Star Entertainment Group’s license to operate its Sydney casino has been suspended, and it will take effect on Friday. The New South Wales (NSW) Independent Casino Commission's (NICC) action came in response to a report earlier this year which found that the Star’s Sydney casino was involved in money laundering and that it let organised crime thrive. The report had blasted the operator for taking a "cavalier" approach in monitoring casinos’ activities and also accused it of trying to cover up its illicit actions. In response to the report at that time, the casino operator pledged to do “whatever necessary” to restore its suitability as an operator and appointed an independent monitor as well as committed to a cultural overhaul. Under the laws enacted by the NSW government in August, the maximum penalty that can be imposed is a $100 million fine. On Monday, the regulator said that it won’t revoke the Star's licence altogether in order to protect thousands of jobs, and added that the Sydney casino would function under a manager appointed by the NSW Independent Casino Commission. “From Friday the Star will not be able to run the casino on its own until it can earn its licence back,” regulatory chief Philip Crawford was quoted as saying by the BBC. Several of the top executives of the Star group, including former chief executive Matt Bekier, had resigned in light of the scandal. Robbie Cooke, who took over as the Star’s new chief executive, had earlier committed to restore the firm’s credibility. “The business had lost its way in a number of areas, but I’m committed to rehabilitating it and restoring the group to suitability [to hold its casino licenses],” Cooke was quoted as saying. (With inputs from agencies) WATCH WION LIVE HERE:

Major gambling firm loses Sydney casino license over money laundering charges

Pakistan Prime Minister Shehbaz Sharif on Saturday appeared in front of a special court in connection with a money laundering case to the tune of $72 million (16 billion Pakistani rupees) and pleaded his innocence.

Pakistan Prime Minister Shehbaz Sharif on Saturday appeared in front of a special court in connection with a money laundering case to the tune of $72 million (16 billion Pakistani rupees) and pleaded his innocence. “I never committed a single penny of corruption nor received any kickbacks in any project during my tenure as the chief minister of Punjab. During my tenure, I would give up my salary and other perks amounting to ₹100 million,” said Shehbaz during the hearing. The hearing is taking place at a Special Court in Lahore which has granted pre-arrest bails to Shehbaz and his son Hamza while Suleman, who lives in Britain, has been declared a proclaimed offender in the case. Amjad Pervaiz, the counsel of the Pakistan PM argued in front of the court that the Federal Investigation Agency (FIA) had removed $40 million from the initial chargesheet after failing to gather any proof. The court, however, adjourned the hearing till October 11. As reported extensively by WION, 70-year-old Shehbaz, and his sons Hamza, 47, and Suleman, 40, were booked in November 2020 by the FIA under various sections of the Prevention of Corruption Act and Anti Money Laundering Act. According to the FIA report submitted in the court, the probe team had "detected 28 benami accounts of the Shehbaz family through which money laundering of Rs 16.3bn was committed during 2008-18. The FIA examined the money trail of 17,000 credit transactions." Read more: Pak PM Shehbaz, son summoned by court in money laundering case Benami transactions are those transactions that are made by a person without using his name or by using the name of another. The amount was kept in hidden accounts and given to Shehbaz in a personal capacity. Last month, 13 bank accounts of companies related to Sharif and Suleman were frozen by the special court. Besides, the special court also issued show-cause notices to the officials of different banks for not adhering to an earlier order over the attachment of the accounts owned by two other proclaimed offenders. Read more: 13 banks accounts of Pak PM’s younger son frozen over money laundering case: Report (With inputs from agencies) WATCH WION LIVE HERE:

'I never committed a single penny of corruption', Pakistan PM Shehbaz Sharif pleads in court

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