Hashtag: #MoneyLaundering

Police Detectives Trained & Re-Certified

Police Detectives Trained & Re-Certified

Bermuda Police Service detectives have been trained and re-certified in anti-money laundering and counter terrorism finance investigations. A police spokesperson said, “The Bermuda Police Service has recently completed training for detectives in the Organised & Economic Crime Department [OECD]. “Partnering with the U.K. National Crime... Read more of this article

Over 100 People Attend Q&A Panel Session

Over 100 People Attend Q&A Panel Session

KPMG in Bermuda hosted over 100 professionals from across Bermuda’s Banking, Insurance, Investment, and Legal sectors at a Q&A panel session on Tuesday, May 2nd at the Trade Winds Auditorium of the BUEI. Panellists from the Office of the National Anti-Money Laundering Committee [NAMLC] and the Bermuda Monetary Authority [BMA] responded to questions... Read more of this article

Four Charged: Money Laundering $2.5 Million

Four Charged: Money Laundering $2.5 Million

Four people appeared at the Cardiff Crown Court in Wales, with the charges stemming from financial transactions conducted by Jeffrey Bevan whilst employed in the Bermuda Accountant General’s office, with the four defendants accused of laundering the proceeds of $2.5 million allegedly stolen from the Bermuda Government between 2011 and 2013.Detective... Read more of this article

Oyster Consulting Hosts Regulatory Seminar

Oyster Consulting Hosts Regulatory Seminar

Oyster Consulting [Bermuda] Ltd hosted its inaugural Regulatory Compliance Seminar on July 26, with panelists discussing changes to Bermuda’s anti-money laundering/anti-terrorist financing requirements, cybersecurity, and conducting investment advisory business in the United States. Oyster Consulting [Bermuda] Consultant Henry Komansky said, “Over... Read more of this article

Crown To Appeal Sentence Given To Bulgarians

Crown To Appeal Sentence Given To Bulgarians

Following the sentencing today of two Bulgarian nationals who pleaded guilty to theft and money laundering, Director of Public Prosecutions Larry Mussenden said the Crown will “immediately file an appeal” against the four month sentence as it is “manifestly inadequate.” Mr Mussenden said, “The defendants Chavdar Bachev... Read more of this article

Police Officer Charged [Found Not Guilty]

Police Officer Charged [Found Not Guilty]

Update: Inspector Carrington has been cleared of all charges Appearing in Magistrates Court this morning [Sept 22], a 49-year-old police officer was charged with tipping off someone that police were  investigating a money-laundering matter. Emmerson Carrington pleaded not guilty to a charge that, in November 2013, knowing that police were investigating... Read more of this article

Survey: Businesses Focus On Anti-Laundering

Survey: Businesses Focus On Anti-Laundering

Senior management’s focus on money laundering is at an all time high, according to findings from KPMG’s 2014 Global Anti-Money Laundering [AML] Survey, recently released by the Bermuda firm. A spokesperson said, “According to KPMG’s survey report, anti-money laundering has never been higher on senior management’s agenda, with regulatory... Read more of this article

39 Yr Old Man Charged With Having $316,000

39 Yr Old Man Charged With Having $316,000

A 39 year old man appeared in Magistrates Court where he was charged with having around $316,000 while knowing that the money was the proceeds of criminal activity. Kenith Bulford, of Sandys, faced the indictable charge that he was in possession of around $316,000 while knowing that this money was the proceeds of criminal activity. Since the charge... Read more of this article

Deuss Agrees To Pay $47 Million Settlement

Deuss Agrees To Pay $47 Million Settlement

One-time Bermuda-based businessman John Deuss has agreed to pay $47 million to settle a seven-year battle with European authorities over allegations of financial irregularities. He was previously given a suspended prison sentence of six months and a fine of 327,000 euros [$409,000], after being found guilty in a Dutch court of banking without a license... Read more of this article

Finance Ministry: ‘Spain Never Contacted Us’

Finance Ministry: ‘Spain Never Contacted Us’

The Finance Ministry responded to a recent newspaper article about Bermudian authorities “refusing” to assist Spain with a financial investigation, saying it was “categorically untrue.” The Ministry said that neither the Bermuda Government or any related agencies in Bermuda were contacted by Spanish Authorities about the matter. The... Read more of this article

Papers Filed To Seize Mexican Fugitive’s $2 Million

Papers Filed To Seize Mexican Fugitive’s $2 Million

U.S. authorities have filed a document to seize over $2 million in a Bermuda bank account allegedly belonging to a fugitive Mexican official charged in a corruption case. Hector Hernandez Javier Villarreal [pictured] — the former Secretary of Finance for Coahuila, Mexico — is suspected of forging state documents to obtain fraudulent loans... Read more of this article

Money-Laundering Charges: HSBC Pay $1.9B

Money-Laundering Charges: HSBC Pay $1.9B

Banking giant HSBC agreed to pay a $1.92 billion settlement on Tuesday [Dec 12] after an investigation by U.S. authorities found the bank violated laws by laundering money from Mexican and Colombian drug cartels and processed banned transactions for countries subject to U.S. sanctions, including Cuba, Iran and Sudan. U.S. Assistant Attorney General... Read more of this article

Proceeds Of Crime: Bermuda Receives $672,225

Proceeds Of Crime: Bermuda Receives $672,225

[Updated with video] US Consul General Grace Shelton handed over a cheque for $672,225 to Premier Paula Cox this afternoon [Aug 15],  with the funds representing Bermuda’s share of assets forfeited to U.S authorities from an illegal internet pharmacy operation based in the United States. The operation laundered its proceeds abroad, including through... Read more of this article