Money Laundering Bulletin

The New York subsidiary of Shinhan Bank Co. Ltd of South Korea has reached civil settlements worth US$25 million with US regulators after it failed to meet commitments given to correct deficiencies in its anti-money laundering program, under the Bank Secrecy Act (BSA), across the period 1 April 2016 to 29 March 2021.

A London brokerage dealing in energy, metals, foreign exchange and other markets must pay UK£6,470,600, which includes a 30% discount for cooperation, after the UK Financial Conduct Authority discovered it had not properly remediated anti-money laundering systems and control failings.

Dark fleet oil shipments through restricted western goods imported via third countries, Russia is mastering sanctions circumvention, in the same way - and better, that is, at far greater scale - than Iran and North Korea. Keith Nuthall studies the ways and means, and how Ukraine's allies are responding.

British university students have been warned of the dangers of unwittingly becoming money mules for criminal networks after Barclays Bank recorded a 23% surge in UK cases among customers with a student account at the start of the last academic year, in September and October 2022.