Welcome to this week’s edition of the Global AML News Weekly Digest. Here are the top stories making headlines around the world:
1. Germany Seizes Almost 250,000 Euros In Crypto ATM Sting
German authorities have seized nearly 250,000 euros ($279,000) in cash in a nationwide operation targeting cryptocurrency ATMs. The country’s financial regulator, BaFin Crypto Atm, announced that 13 machines operating without proper permits were seized. These ATMs, which were spread across 35 different locations, were facilitating transactions in Bitcoin and other cryptocurrencies and posed a significant risk for money laundering.
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2. AMLC Hails Win Against Napoles In Money Laundering Case
The Anti-Money Laundering Council (AMLC) secured a legal victory as the Manila Regional Trial Court Branch 24 convicted Janet Napoles for money laundering linked to the Priority Development Assistance Fund (PDAF) scam. Napoles was sentenced to seven to 14 years in prison and fined P16 million. This case stems from a 2013 complaint filed by the AMLC with the Department of Justice.
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3. China Says ‘Strongly Dissatisfied’ With Fresh U.S. Sanctions
China has expressed its “strong dissatisfaction” and “firm opposition” to new U.S. sanctions imposed on Chinese companies over their ties to Russia’s war in Ukraine. The Chinese commerce ministry urged the U.S. to cease its actions and warned that China would take necessary measures to protect the rights of its firms. Washington recently extended sanctions to nearly 400 entities, including several Chinese companies accused of aiding Russia.
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4. French Authorities Arrest Telegram CEO Pavel Durov At Paris Airport
Pavel Durov, the CEO of Telegram, was arrested at Paris-Le Bourget Airport on Saturday evening upon his arrival from Azerbaijan. French media report that Durov, who holds both French and Russian citizenship, was detained under an arrest warrant linked to allegations that his platform has been used for money laundering and drug trafficking. The arrest was executed by investigators from the National Anti-Fraud Office, tied to French customs.
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5. A $5B German Scandal Is Driving Green Firms Out Of Business
A brewing scandal in Germany’s carbon market is causing significant disruptions in green businesses. The controversy emerged after Shell received a whistleblower tip claiming that a supposed Chinese emissions-reduction project linked to an oilfield was actually a chicken farm. The complaint also pointed out three other questionable cases, raising concerns over the credibility of Germany’s carbon trading system.
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6. Australia’s ASIC Shuts Down Over 600 Crypto Scam Websites In Year-Long Crackdown
Australia’s financial regulator, ASIC, announced it has taken down 615 cryptocurrency scam websites in a broader effort to combat investment fraud. Over the past year, the Australian Securities and Investment Commission has removed over 7,300 scam websites, including those linked to crypto investments. Investment scams reportedly caused losses of around $1.3 billion in 2023, according to a report from the Australian Competition and Consumer Commission.
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Stay informed with our weekly digest, bringing you the most impactful news from around the globe. Thank you for reading!
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