Day: September 1, 2021

On 31 August, Deutsche Welle reported that authorities say more than 300 soccer fields could have been planted with the seeds, generating a crop likely to fetch €2.3 billion at street prices at conservative estimates.  The find was made at Cologne/Bonn airport.  Airport workers discovered the seeds in 4 containers of 50 kg each in May, and were headed to Lithuania from the US.

https://www.dw.com/en/german-customs-officers-seize-record-23-million-cannabis-seeds/a-59044914

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On 1 September, the always fascinating Kenneth Rijock blog published a post saying that FIAU knew about Pilatus’ money laundering in 2016, and this information was verified in 2017.  The Notice has only now been issued.

https://rijock.blogspot.com/2021/08/three-years-too-late-maltas-regultor.html

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On 31 August, ACAMS reported that, following the report, Australia’s FIU is tackling the depth, accuracy and timeliness of reports tied to suspicious activity, with a programme designed to update and upgrade how the country’s financial sector files suspicious matter reports (SMR).  It is said that the efforts could put some banks in the spotlight as the accuracy, adequacy and depth of filed reports could come under greater scrutiny – along with the rigor of underlying risk ranking, investigation and filing procedures.

https://www.acfcs.org/after-scathing-parliamentary-aml-inquiry-austrac-takes-aim-at-quality-quantity-of-suspicious-matter-reports-in-quest-to-bolster-fincrime-effectiveness/

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On 1 September, iGB reported that the UK regulator had fined the operator after an investigation uncovered social responsibility and AML shortcomings.  Part of the problems found was that it had ineffective policies for AML/CFT.

https://igamingbusiness.com/gambling-commission-hands-rank-subsidiary-daub-alderney-5-8m-fine

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On 30 August, The Shift said that a whistleblower has claimed that a Malta operator was potentially linked to the illegal proceeds of one of the biggest-ever online financial scams.  The named operator has come under the spotlight after reports detailing its potentially shady past and its links with those involved in corruption, crime, and money laundering.  It was allegedly funded through a fraud involved a network of companies, brands and individuals operating illegal call centres, trading sites and betting sites throughout Europe and which is said to have scammed at least 200,000 vulnerable and elderly people out of more than €200 million.  It is also said that documents show the operator was set up with funding from 2 companies, both of which are labelled as scams and being involved in money laundering.

https://theshiftnews.com/2021/08/30/malta-licensed-gambling-company-founded-on-takings-from-200000-cyber-scam-victims-report/

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