The settlement is the latest example of the agency’s enhanced criminal enforcement of money transmitting business and international money-laundering laws.
The recent settlement is significant both in terms of its amount...more
9/23/2024
/ Bank Secrecy Act ,
Casinos ,
CFTC ,
China ,
Criminal Investigations ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement ,
Foreign Currency ,
Money Laundering ,
Money Transmitter ,
Settlement ,
Suspicious Activity Reports (SARs)
Xu Guojun, along with co-conspirators Xu Chaofan and Yu Zhendong, exploited their positions at the Bank of China to steal bank funds and cover unauthorized foreign exchange losses.
Due to their acts, the Bank of China...more
With the amended Counter-Espionage Law, China has broadened its definition of “espionage” to give information related to “national security and interests” the same protections already given to state secrets.
The amended...more