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September 02 - Police in Japan acting on an FBI request have arrested six people -- three Nigerians, one Ghanaian and two Japanese nationals -- in a money-laundering case, officials said Thursday.
The six are suspected of having received funds that were the proceeds of a crime, wired to them from a New York Citibank account in the name of the National Bank of Ethiopia, Japan's Metropolitan Police Department said. |
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September 02 - The court of Armenia’s province of Syunik, has sentenced Hovik Bakhshyan, the governor of Ardshininvestbank’s Goris Branch, to 9.5 years in prison for laundering the money he has got illegally, Armenian Prosecutor Office reported on Tuesday.
Throughout a period between 2006 and 2009, Bakhshyan registered false loans allegedly extended to 95 individuals and five legal entities. |
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September 01 - “The working group strongly feels that streamlining registration processes with international standards could also remove the incentives to participate in markets such as those for participatory notes,” said the report.
Participatory notes or P-notes are instruments that allow one to take an exposure to India securities. They can be used by investors not registered with the Securities and Exchange Board of India, the regulator for stock markets in the country. Concerns have been raised over the instruments’ potential use for money laundering and terrorist financing |
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was established to assist Canadian individuals and organizations
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anti-money laundering compliance program as mandated under
Canada's Proceeds of Crime (Money Laundering) and Terrorist
Financing Act. |
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Canada's anti-money laundering legislation directly affects over one million businesses and professionals.
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Penalties for failing to comply with the Regulations can be severe, in some cases reaching a maximum of 5 years in jail and/or $2 million in fines.
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