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Dubai Billionaire Jailed, Deported for $27M Fraud

Balvinder Singh Sahni, widely known as "Abu...

U.S. Treasury Uncovers Major Oil Smuggling Operation Tied to Mexican Cartels

The U.S. Department of the Treasury's Financial...

Money Laundering

Dubai Billionaire Jailed, Deported for $27M Fraud

Balvinder Singh Sahni, widely known as "Abu Sabah," is a prominent Indian-origin businessman based in Dubai. He is the founder and chairman of the RSG Group of Companies, a conglomerate with interests in real estate, automotive, and industrial sectors across the Middle East. Sahni...

Former Peruvian President Ollanta Humala Sentenced to 15 Years for Money Laundering

Former Peruvian President Ollanta Humala has been sentenced to 15 years in prison after being found guilty of money laundering in a landmark ruling by a court in Lima. The conviction marks a...

DFSA Confirms Rulebook Amendments Across Multiple Regulatory Modules

The Dubai Financial Services Authority (DFSA) has confirmed a series of legislative amendments to its Rulebook following the conclusion of the consultation period outlined in Consultation Paper No. 163. These changes, made after...

AMLC Issues New Guidelines for Reporting Covered and Suspicious Transactions

Under the Anti-Money Laundering Act (AMLA), entities classified as covered persons are legally required to report specific financial transactions to the Anti-Money Laundering Council (AMLC). These include both covered transactions and suspicious transactions, which must...

Money Laundering

Dubai Billionaire Jailed, Deported for $27M Fraud

Balvinder Singh Sahni, widely known as "Abu Sabah," is a prominent Indian-origin businessman based in Dubai. He is the founder and chairman of the RSG Group of Companies, a conglomerate with interests in real estate, automotive, and industrial sectors across the Middle East. Sahni...

Former Peruvian President Ollanta Humala Sentenced to 15 Years for Money Laundering

Former Peruvian President Ollanta Humala has been sentenced to 15 years in prison after being found guilty of money laundering in a landmark ruling by a court in Lima. The conviction marks a...

DFSA Confirms Rulebook Amendments Across Multiple Regulatory Modules

The Dubai Financial Services Authority (DFSA) has confirmed a series of legislative amendments to its Rulebook following the conclusion of the consultation period outlined in Consultation Paper No. 163. These changes, made after...

USA
Events: 10,500 events
Fines: USD290 Bn
Imprisonment: 1,245,000 months
Entities (including individuals and organizations): 17K

UK
Events: 1,750 events
Fines: USD18 Bn
Imprisonment: 150,000 months
Entities: (including individuals and organizations): 3K

India
Events: 510 events
Fines: USD45 Mn
Imprisonment: 3,800 months
Entities: (including individuals and organizations): 400

South Africa
Events: 120 events
Fines: USD32 Mn
Imprisonment: 20,090 months
Entities: (including individuals and organizations): 190

Screening

IDAHOT 2024: freedom and equal rights in Europe | News item

Together with the Council of Europe, the Netherlands is hosting the European IDAHOT+ Forum in The Hague from 14 to 16 May. The forum is an important conference on the position and human...

AMLYZE and Plumery Join Forces to Redefine FinTech: Fusion of Cutting-Edge Anti-Financial Crime Tech with Next-Gen Digital Banking

AMLYZE, a distinguished RegTech specializing in combating financial crimes, and Plumery, a leading provider of digital banking solutions, have announced a strategic partnership. This collaboration aims to reshape the FinTech landscape by integrating...

ESG

FSA Weekly Review No.595 July 19, 2024

July 11, 2024 Publication of a draft Cabinet Order, draft Cabinet Office Orders, and a draft regulatory notice in response to the enactment (in FY 2023) of the "Act Partially Amending the Act on Book-Entry Transfer of Corporate Bonds and Shares," etc. to respond to changes in the environment involving advances in information technology <Summary> The FSA published a draft Cabinet Order, draft Cabinet Office Orders, and a draft regulatory notice (hereinafter collectively referred to as "Ministerial Orders" or "the proposal") in response to the "Act Partially Amending the Act on Book-Entry Transfer of Corporate Bonds and Shares," etc. to respond to changes in the environment involving advances in information technology, which...

Crypto

MAS Proposes Regulatory Guidelines for Digital Token Service Providers

The Monetary Authority of Singapore (MAS) has released a Consultation Paper on the proposed regulatory guidelines for DTSPs licensed under the Financial Services and Markets Act 2022. Feedback is open from October 4 to...

Check out other categories:

Fraud, Bribery & Corruption

Dubai Billionaire Jailed, Deported for $27M Fraud

Balvinder Singh Sahni, widely known as "Abu Sabah," is a prominent Indian-origin businessman based...

George Santos Sentenced to Over Seven Years in Prison for Fraud, Identity Theft, and Public Corruption

Former U.S. Congressman George Anthony Devolder Santos was sentenced Friday to 87 months in federal prison after pleading guilty to a series of sweeping fraud schemes that included wire fraud, aggravated identity theft,...

Regulations

Big 4 Corner

Sanctions

Chinese National and DPRK Facilitator Extradited to the United States; Faces Charges of Conspiracy, Bank Fraud, and Violating North Korea Sanctions

On Sept. 27, the Commonwealth of Australia extradited Jin Guanghua, 53, to the United States. Jin, a Chinese national,...

Human Rights

Tribes in Nevada Honor Victims of Cavalry Massacre

On September 21, I attended the fourth annual commemoration...

Tunisia: Release Former Truth Commission President

(Beirut) – A Tunisian judge has detained a prominent activist...

Guatemala: High-Stakes Judicial Appointments | Human Rights Watch

(Washington, DC) – Guatemala’s Congress should ensure a transparent, merit-based...

Gaza: Israeli Attacks Devastate Lives of Children with Disabilities

The Israeli government’s attacks and unlawful blockade against Gaza have...

AI / ML

AI pareidolia: Can machines spot faces in inanimate objects?

In 1994, Florida jewelry designer Diana Duyser discovered what...

New security protocol shields data from attackers during cloud-based computation | MIT News

Deep-learning models are being used in many fields, from...

720 Australian and Brazilian Children Better Protected from AI Misuse

LAION, the German nonprofit organization that manages a dataset...

Army Soldier Arrested for Using AI to Generate Child Pornography

An Army soldier stationed at Joint Base Elmendorf-Richardson in...

MIT researchers use large language models to flag problems in complex systems | MIT News

Identifying one faulty turbine in a wind farm, which...

SEBI Mandates KRAs to Display Investor Charter, Boosts KYC Transparency and Data Security

In a significant move to bolster investor confidence and streamline regulatory compliance, the Securities and Exchange Board of India (SEBI) has directed all KYC...

Dubai Billionaire Jailed, Deported for $27M Fraud

Balvinder Singh Sahni, widely known as "Abu Sabah," is a prominent Indian-origin businessman based in Dubai. He is the founder and chairman of the...

U.S. Treasury Uncovers Major Oil Smuggling Operation Tied to Mexican Cartels

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a critical alert detailing a sophisticated oil smuggling scheme orchestrated by...

George Santos Sentenced to Over Seven Years in Prison for Fraud, Identity Theft, and Public Corruption

Former U.S. Congressman George Anthony Devolder Santos was sentenced Friday to 87 months in federal prison after pleading guilty to a series of sweeping...

Former Peruvian President Ollanta Humala Sentenced to 15 Years for Money Laundering

Former Peruvian President Ollanta Humala has been sentenced to 15 years in prison after being found guilty of money laundering in a landmark ruling...

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