Clarke – Financial Treason & Crime

NorthRow: The Challenge of Beneficial Ownership – How to Unravel Complex Money Laundering Webs

Gina Clarke, 09 June 2021

Identifying Ultimate Beneficial Owners can be challenging for many regulated firms. Financial criminals are adept at obscuring the true identities of Beneficial Owners by using complex legal structures and shell companies to launder illicit funds. Cross border corruption and money laundering is happening on a much wider scale with fraudsters hiding behind complex corporate structures.

Greater transparency and public access for company registries is a key focus for both the UK and European Union (EU). However, the latest Transparency International report highlights the lack of availability and accessibility of beneficial ownership data in some EU countries. Continue reading “Article: NorthRow: The Challenge of Beneficial Ownership – How to Unravel Complex Money Laundering Webs”

Merrill Lynch Commodities receives $25m fine for spoofing and market manipulation (15 July 2019)

Jennie Clarke

Behavox, 15 July 2019

Merrill Lynch Commodities Inc has received a $25m charge from the US Commodity Futures Trading Commission (CFTC) for spoofing, manipulation and attempted manipulation, with respect to certain precious metals futures.

The CFTC found that Merrill Lynch Commodities traders placed orders to buy and sell precious metals futures contracts with the intent to cancel their orders before execution. The traders employed a specific spoofing strategy in which they would place a small bid or offer with the intent to execute that order. Prior to the execution of that order, they would place a larger order on the opposite side of the same market with the intent to cancel that order before execution. This manipulated market prices and created artificial and fluctuating prices.

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Article: NorthRow: The Challenge of Beneficial Ownership – How to Unravel Complex Money Laundering Webs

Article: Merrill Lynch Commodities receives $25m fine for spoofing and market manipulation (15 July 2019)