On “The Weekend Intelligence” we track the story of a multi-agency probe into how $100m, probably more, was stolen from a country at war: by its own elite https://t.co/7d4RsBWODH ...

RT zerohedge (@zerohedge)Top Obama DEA Official Charged With Laundering Money For Mexican Drug Cartel https://t.co/Nt2gL3l9HS ...

We're back with more breaking news this hour. President Trump in a new social media post just moments ago announcing he is pardoning Democratic Congressman Henry Quayar of Texas. Quayrar was charged last year with bribery and acting as a foreign agent facing allegations of taking hundreds of thousands of dollars from an Azerbaijan state-owned oil company and a Mexican bank.Obviously, this is a breaking scene and we are right now reaching out to a handful of White House officials to understand uh the the tru ...

Regulatory Landscape - The European Commission added Russia to its list of high-risk jurisdictions for money laundering and terrorist financing [1] Geopolitical Impact - This action represents a further financial fallout for Russia nearly four years after its full-scale invasion of Ukraine [1]

Core Insights - The Huione Group's banking services, Huione Pay, have ceased operations and cash withdrawals following sanctions from the U.S. and UK, aimed at disrupting Cambodia's $19 billion scam economy [1][2] - Huione has been identified as a critical infrastructure for money laundering and scam operations, with significant financial flows linked to illicit activities [3][4] Company Overview - Founded around 2014, Huione Group provides various financial services in Cambodia, primarily targeting Chinese-speaking users, including payments and financial transfers [5] - The company gained notoriety for its escrow service, Huione Guarantee, which facilitated connections for money laundering and scam-related activities [6] Industry Context - Cambodia has emerged as a center for large-scale online scamming, with over 100,000 individuals reportedly working in scam compounds, often under coercion [7] - The financial regulator in Cambodia revoked Huione Pay's banking license in March due to compliance violations, which Huione contested, claiming it no longer required a license [7] - The Financial Crimes Enforcement Network (FinCEN) designated Huione as a primary money laundering concern in May, highlighting its role in the country's scam economy, estimated to be 60% of the national GDP [8]

🚨UPDATE: CAMBODIA’S ALLEGEDLY LARGEST MONEY-LAUNDERING NETWORK, HUIONE PAY, HAS HALTED OPERATIONS UNTIL JANUARY 5 AMID A BANK RUN ...

Following US sanctions, Huione Pay, the world's largest money laundering network in Cambodia, experienced a massive run on its banks. On December 1, it abruptly announced a shutdown until January 5 of next year and initiated a deferred repayment plan. Large queues of users have formed outside its Phnom Penh headquarters. https://t.co/dQ8J98V3Sy ...

Switzerland’s attorney general filed criminal charges against UBS and a former Credit Suisse compliance officer, saying they failed to take steps to prevent money laundering in what later became known as the Mozambique “tuna bonds” scandal https://t.co/VrMBhCRpEP ...

What connects a drug cartel in Mexico with a flat purchase in New York?The Economist explores how Chinese underground banking networks launder billions of illicit dollars every year, often on American soil.Read why these networks are so hard to police: https://t.co/g6t9v8A6ux ...

Swiss prosecutors charged Credit Suisse with failing to prevent money laundering linked to loans the lender provided to Mozambique to build a fishing fleet in what became the tuna bond scandal https://t.co/sMNBKjUneJ ...