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Citibank has been punished by the Japanese Financial Services Agency twice (2004 and 2009) for aiding and abetting money laundering by yakuza members; there was no punishment from the U.S. side. In 2004–2006, Immigration Customs Enforcement (ICE) seized close to $1 million worth of assets in the United States owned by Susumu Kajiyama , the so ...
In 2018, the O.C.C again indicted Citi for shortcomings in its anti-money laundering policies, Citi was required to pay $70M (~$83.7 million in 2023). [ 217 ] In June 2024, agents from the United States Drug Enforcement Administration , citing recent investigations into the Sinaloa Cartel, said money launderers continually found ways to take ...
Citibank also won’t let you cancel immediate transfers, ... Acting as a money mule is also illegal, and those individuals may be charged with money laundering, mail fraud or wire fraud. If they ...
A class-action lawsuit seeks to punish Citibank for arbitrarily denying the applications and closing the accounts of people with Armenian-sounding last names under the aegis of fraud prevention.
James' lawsuit asked Citibank to disgorge profits, pay a $5,000 fine for each instance in which it violated the law, and appoint a third-party monitor to identify all customers who were harmed.
The money laundering scheme was uncovered by Global Laundromat, an investigation. [4] The New Yorker says that that operation was known as "The Russian Laundromat," "The Global Laundromat," or "The Moldovan Scheme." [5] The Herald wrote that the scheme is "thought to be the world's biggest and most elaborate money-laundering scheme." [6]
(Reuters) -A U.S. appeals court has halted enforcement of an anti-money laundering law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S ...
The FinCEN Files implicate former Mexican president Enrique Peña Nieto in money laundering. [44] The files revealed that Group Grand Limited was controlled by Alex Saab and Álvaro Pulido. [45] NBC News reported that North Korea laundered money through US banks via shell companies and Chinese firms. [46]