FBI concerned over laundering risks in private equity, hedge funds - leaked document

[bucolic_frolic]

Source: Thomson Reuters Regulator Intelligence

The U.S. Federal Bureau of Investigation believes firms in the nearly $10-trillion private investment funds industry are being used as vehicles for laundering money at scale, according to a leaked intelligence bulletin prepared by the agency in May.

“Threat actors” — including criminals in it for the money and foreign adversaries — “use the private placement of funds, including investments offered by hedge funds and private equity firms” to reintegrate dirty money into the legitimate global financial system, according to the bulletin.

It also said the industry lacks adequate anti-money laundering programs and called for greater scrutiny by regulators, which have yet to issue rules for the industry.

“The FBI assumes AML programs are not adequately designed to monitor and detect threat actors’ use of private investment funds to launder money. Additionally, the FBI assumes threat actors exploit this vulnerability to integrate illicit proceeds into the licit global financial system,” it said.

Read more: https://www.reuters.com/article/bc-finreg-fbi-laundering-private-equity/fbi-concerned-over-laundering-risks-in-private-equity-hedge-funds-leaked-document-idUSKCN24F1TP

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Much more at the link

[kimbutgar]

1. I bet that hedge fund that just brought McClatchy has got some Russian Money to buy that

News paper chain hoping to influence the election.

But ironically those who still buy and read newspapers are in the reality based news world and will see the bs.

[BadGimp]

2. And a major reason for this is:

"hedge fund managers" enjoy a massiv tax discount on their income so yes, they will sell our financial system down the river as part of their efforts t enrich themselves and still pay a much smaller tax rate than "people"...

this sucs

[erronis]

3. Isn't this just a "no shit, sherlock?"

That's what moneyed people do. Try to hide their transactions and wealth.

And, of course, try to rip off the small people.

If the Bahamas and Caymans and Guernsey and Monaco, etc. aren't available, there's always the US banking "system" to hide money transfers.

Just like "Flash Boys", the feds and regulatory agencies will never be able to keep up with the real money.

[not fooled]

4. pukes gutted the IRS

they love criminals, tax evasion, and money laundering. Let the USA fall into disrepair as they and their fellow criminals loot the world.

[PSPS]

5. Not to worry. Barr will protect the hedge funds so long as trump gets his vigorish

[C_U_L8R]

6. That's the whole game right there.... from Moscow to Cyprus to Merde Largo

Shell within a shell within a shell.