FBI CONCERNED OVER LAUNDERING RISKS IN PRIVATE EQUITY AND HEDGE FUNDS

A post from Thomson Reuters on 10 July referred to an internal memo from the FBI in May which says that the FBI believes firms in the nearly $10-trillion private investment funds industry are being used as vehicles for laundering money at scale.  It says that “Threat actors” – including criminals in it for the money and foreign adversaries – “use the private placement of funds, including investments offered by hedge funds and private equity firms” to reintegrate dirty money into the legitimate global financial system, and the industry lacks adequate AML programmes and called for greater scrutiny by regulators. It cites 4 cases of planned or reported laundering operations, involving hundreds of millions of dollars, utilising private funds.

https://drive.google.com/file/d/1tj3EvnajLjSiFJuoS0Zu-jkkB9cDY-vJ/view

https://blueleaks.io/jric/files/DDF/200501%20LES%20FBI%20Intelligence%20Bulletin%20-%20Threat%20Actors%20Likely%20Use%20Private%20Investment%20Funds%20to%20Launder%20Money%2C%20Circumventing%20Regulatory%20Tripwires.pdf

 

 

 

 

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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