Broker-dealer Merrill Lynch has agreed to pay a total of $12 million in fines to regulators for failing to file about 1,500 suspicious activity reports over more than a decade.
Tag: money laundering
Global Regulators Back Tougher Rules to Prevent Criminals from Using Crypto
Cryptocurrency firms could be forced to take greater steps to combat money laundering under new guidelines released on Thursday by the Financial Action Task Force, an international body that coordinates government policy on illicit finance. The task force called on governments to broaden regulatory oversight of crypto firms and force more of them to take… Continue reading Global Regulators Back Tougher Rules to Prevent Criminals from Using Crypto
Georgia Insurance Commissioner Indicted for Fraud
Georgia Insurance Commissioner Jim Beck has been indicted on charges of wire fraud, mail fraud and money laundering. A federal grand jury on Tuesday issued a 38-count indictment against the former insurance lobbyist and long-time leader of the Georgia Christian Coalition, alleging he committed fraud through a series of insurance-related schemes. The proceeds of the… Continue reading Georgia Insurance Commissioner Indicted for Fraud