AML Weekly Recap and Insights | Week 11th November - 15th November 2024

Nov 15, 2024

Dear AML Community,

Here's another "AML Weekly Recap and Insights" article to keep you updated on the latest AML developments.

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Let’s move on to this week’s news…

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Spanish police arrest ex-fraud chief after €20m found in walls of his house (Guardian): A high-ranking Spanish police officer, Óscar Sánchez Gil, has been arrested in connection with one of the country's largest-ever cocaine confiscations. Sánchez Gil was the former head of the fraud and anti-money laundering division of Spain’s national police force in Madrid. He is accused of collaborating with drug traffickers by providing information on container surveillance in Spanish ports.
Former Peruvian President Alejandro Toledo was sentenced to 20 years in prison (Guardian) for accepting $35 million in bribes from Brazilian construction giant Odebrecht - Peru’s first high-profile conviction linked to Latin America’s sweeping “Operation Car Wash” corruption probe. Toledo, who governed from 2001 to 2006, was found guilty of exploiting his office to secure contracts for Odebrecht in exchange for bribes, notably for a highway connecting Peru and Brazil.
FinCEN Issues Alert on Fraud Schemes Involving Deepfake Media Targeting Financial Institutions: FinCEN has observed an increase in suspicious activity reports involving deepfake-based fraud, considering the popularity of identity theft and authentication bypass. The alert aims to warn financial institutions about the growing threat of deepfake-related fraud which can be used to create highly convincing fake identities and deceive individuals and institutions.
Bitfinex Hacker sentenced to five years in prison: Ilya Lichtenstein was sentenced to five years in prison for the hack and theft of approximately 120,000 bitcoin from Bitfinex back in 2016. His wife, Heather Morgan, is scheduled to be sentenced later this year for her involvement in the scheme. The couple employed a complex web of techniques to steal and then conceal the illicit funds, including using fictitious identities to set up online accounts, darknet markets and cryptocurrency exchanges.