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.









If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at “Buy me a Coffee” – https://www.buymeacoffee.com/KoIvM842y

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s