Financial Crime Wave – Bank freezes $5 billion in Russian funds, Feds hit Venezuelan ring, and more


Financial Crime Wave – Bank freezes $5 billion in Russian funds, Feds hit Venezuelan ring, and more

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Posted by: Brian Monroe

By Brian Monroe
bmonroe@acfcs.org
August 26, 2018

In this week’s Financial Crime Wave, Credit Freeze freezes $5 billion related to Russian sanctions designations, U.S. investigators target millions in assets linked to alleged Venezuelan money-laundering ring, Wells Fargo comments on medical marijuana banking, and more.

Sanctions

Credit Suisse freezes $5 billion of Russian money due to U.S. sanctions as banks fear more draconian sanctions could be coming

One of Switzerland’s largest banks, Credit Suisse, has frozen roughly 5 billion Swiss francs ($5 billion) of money linked to Russia to avoid falling foul of U.S. sanctions, according to its accounts, further increasing pressure on Moscow. The move by Credit Suisse, which owned aircraft surrendered by Russian tycoon Oleg Deripaska and had lent money to Russian oligarch Viktor Vekselberg before the

... read more at: https://www.acfcs.org/news/415702/Financial-Crime-Wave--Bank-freezes-5-billion-in-Russian-funds-Feds-hit-Venezuelan-ring-and-more.htm

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