Illicit Finance

OFAC Blacklists Cyber Scammers in Southeast Asia

The U.S. Treasury Department on Monday blacklisted 19 entities linked to large cyber-scam compounds in Southeast Asia that have targeted Americans in romance and cryptocurrency-investment swindles.

Image: Rum Point beach – Grand Cayman by Lhb1239, [CC BY-SA 3.0], edited

Watchdog Calls for New Beneficial Ownership Standards in UK Territories

The UK should standardize beneficial-ownership requirements across its Overseas Territories and Crown Dependencies, an international watchdog group said.

JPMorgan to Pay $330 Million to Resolve 1MDB Case in Malaysia

JPMorgan Chase will pay $330 million to the government of Malaysia to settle claims that it facilitated the processing of $800 million in fraudulent transactions linked to the looting of Malaysia’s sovereign wealth fund, 1MDB.