Financial Crime Online

Reuters reports that the mayor of the Mexican beach resort of Cancun has been arrested and charged with money laundering and drug-related crimes, making him one of the highest-ranking public officials swept up in Mexico’s crackdown on narcotics traffickers. “He was moving so much money and it just didn’t match up with the amount he [...]

A decade after its introduction, the 500 euro bill has taken a leading role in the world of dirty money. An internal Bank of Italy report warned last year about the mafia’s use of the note, saying it was just adding to the national problems of tax evasion. It is globally the money launderers favorite [...]

Swiss banks are no longer what they used to be. The ‘secrecy veil’ has been lifted to a large extent. Money launderers found ‘safer’ havens for their dirty money. This week it was announced that a Swiss banker, the former CEO of Tempus PrivatBank, is indicted for corruption and money laundering after a 7 (!) [...]

The NY Times reports that federal prosecutors explore the feasibility of a criminal investigation into Goldman Sach’s trading. Based on the preliminary results from the SEC probe, prosecutors from the Southern District of New York started to dig into the details. Goldman executives denied all charges in a hearing this week. For a successful criminal [...]