Some Apple customers have found it difficult to access their savings from a new account program in partnership with Goldman Sachs. After the new Apple savings account was launched in April to great fanfare, the system has been facing serious teething problems, according to customers. The annual yield on an Apple savings account offers a generous…
Apple Customers Say It’s Hard to Get Money Out of Goldman Sachs Savings Accounts
June 3, 2023
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anti-money launderingApple SavingsBusiness & MarketsCompanieseconomyGoldman SachsMedia & Big Techpersonal financeTechTech NewsUS
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Bring Title Insurers Under Anti-Money Laundering Rules, Former Executive Says
Title insurers need to be brought under anti-money laundering rules to fight against scam artists who impersonate homeowners to sell or mortgage their properties, a former insurance executive says. Tim Hyde, who spent years in the title insurance business in Ontario, said dozens of cases involving impersonators in Ontario and B.C. showed the need for…
BC Premier Wants Tighter Federal Laundering Laws After Case Fails to Yield Charges
The failure of a massive, multi-year money laundering investigation to yield charges is a “shocking” example of the shortfalls of federal financial crime law, British Columbia Premier David Eby said Thursday. Eby called for tougher laws a day after B.C.’s prosecution service announced no charges will be laid in the E-Nationalize investigation into millions of…
Australian Police Smashes Chinese Money-Laundering Operation, Seizing $150M Haul
February 2, 2023
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AFPanti-money launderingAustraliaChinaChina-Australia RelationsInternationalInternational Relationsmoney launderingSocial IssuesWorld
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Police have smashed an organised Chinese-Australian crime syndicate and seized a record $150 million (US$107 million) of assets, including mansions, property, cash, cryptocurrency, designer handbags, and other luxury items. The Australian Federal Police (AFP) alleged the group, a global operation headquartered in Sydney, enabled multiple transnational organised crime groups to launder funds derived from criminal…
Former B.C. Lottery Director Says He’s ‘Whistleblower’ on Money Laundering at Casinos
VANCOUVER—A former director of the British Columbia Lottery Corporation’s anti-money laundering office says he is the “whistleblower” that likely prompted the public inquiry examining how hundreds of millions of dollars in illegal cash flowed through the province’s casinos. Ross Alderson, who testified for more than four hours Thursday, said he was driven to leak information…
Australia’s Big Four Banks Warned of High Risk From Criminal Financing
Australia’s major banks are facing the highest risk from money laundering and terrorism financing (ML/FC) among all banking institutions in the country, according to AUSTRAC’s latest series of banking sector risk assessments released on Sep.6. AUSTRAC warned that the criminal environment facing the big four—the Commonwealth Bank (CBA), the National Australia Bank (NAB), ANZ and…
Britain’s NatWest Bank Faces Money Laundering Charges
LONDON—Britain’s financial regulator has started a criminal action against NatWest over allegations it failed to detect suspicious activity by a customer depositing nearly £400 million ($553 million) over five years, mostly in cash. The action is the first such case against a British bank under a 2007 money laundering law. If convicted, the bank faces…
US Congress Bans Anonymous Shell Companies
The U.S Senate on Friday passed a bill overhauling anti-money laundering rules and banning anonymous shell companies.
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