Articles Posted in Anti-Money Laundering

Chicago-based investor rights law firm Stoltmann Law Offices offers representation on a nationwide basis to investors that have been burned by brokerage firms like Interactive Brokers. Broker-dealers move a lot of money throughout the financial system. They make trades, do deals, and maintain custody of trillions of dollars for investors. Sometimes, though, their activities are unsavory. They may run afoul of money laundering laws, where cash is moved from one place to another to hide illegal activity.

The FBI has long suspected broker-dealers, private equity and hedge fund managers of moving money illicitly. In an investigative report made public earlier this year, the bureau highlighted “threat actors” in the money management industry who may be participating in illegal activity. The implications are far reaching, the report found:

“The FBI assumes threat actors exploit this vulnerability to integrate illicit proceeds into the licit global financial system. The FBI assesses, in the long term, criminally complicit investment fund managers likely will expand their money laundering operations as private placement opportunities increase, resulting in continued infiltration of the illicit global financial system.”

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