Marko Elez, a 25-year-old engineer linked to Elon Musk, was granted administrative privileges including ability to write code for Treasury Department’s Payment Automation Manager (PAM) and Secure Payments System (SPS) that handle $6 trillion annually in Social Security, Medicare, and …
Marko ElezElon MuskScott BessentDavid LebrykDonald Trump+1 moretreasurypayment-systemdogemusksecurity-breach+2 more
The U.S. Treasury Department published its first-ever comprehensive risk assessment of NFTs for illicit finance, determining that bad actors can exploit NFT platforms for money laundering, terrorist financing, and proliferation financing. The report highlights techniques including overpaying for …
Treasury DepartmentFinCENnftmoney-launderingtreasuryrisk-assessmentfinancial-crimes+2 more
By 2014, anonymous Limited Liability Companies (LLCs) and shell companies had become the primary infrastructure enabling Russian oligarchs and other kleptocrats to launder an estimated $300 billion or more annually into US real estate. Unlike most developed nations, the United States imposed no …
US TreasuryFinCENRussian OligarchsUS real estate industrymoney-launderingrussian-oligarchsreal-estateshell-companiesfincen+3 more
Robert Rubin joins Citigroup just four months after leaving his position as Treasury Secretary, shortly after the November 1999 passage of the Gramm-Leach-Bliley Act that repealed Glass-Steagall. Rubin’s move to Citigroup - the principal beneficiary of Glass-Steagall repeal - represents one of …
Robert RubinCitigroupSandy WeillGoldman SachsTreasury Departmentrevolving-doorcitigroupglass-steagallcorruptionregulatory-capture+2 more
The U.S. Senate confirms Lawrence Summers as the 71st Secretary of the Treasury, replacing Robert Rubin and continuing the aggressive deregulation agenda. Summers had spent the previous year as Deputy Secretary orchestrating opposition to derivatives regulation, including making an “irate …
Lawrence SummersBill ClintonRobert RubinU.S. SenateWall Street Derivatives Dealerstreasuryderivativesderegulationrevolving-doorfinancial-crisis+2 more
Robert E. Rubin was sworn in as the 70th Secretary of the Treasury, bringing Wall Street directly into the highest levels of economic policymaking. Rubin had spent 26 years at Goldman Sachs, rising to co-chairman from 1990-1992, before joining the Clinton administration as director of the National …
Robert RubinBill ClintonGoldman Sachsrevolving-doorgoldman-sachstreasuryfinancial-deregulationregulatory-capture