The June 8th “Asset Search News Roundup” covers Holocaust-era assets and the Egmont Group of Financial Intelligence Units.

  • By its December 16, 2010 decision, the Second Circuit affirmed the dismissal of the Holocaust-era assets case known as Grosz v. Museum of Modern Art.  The December 16th decision is now the subject of a certiorari petition filed with the U.S. Supreme Court.  The petition argues that the December 16th decision “…sanctioned a departure from the traditional role of U.S. courts as a post-War means of redress for victims of theft of readily identifiable property during wartime…”
  • The Egmont Group of Financial Intelligence Units fights money laundering and terrorist financing by promoting information sharing between governmental authorities.  Its webpage available here, even features a video describing how money launderers and terrorist financiers secretly transfer assets.The Egmont Group additionally publishes its money laundering typologies which analyze various methods for concealing assets.  One of these money laundering typologies describes the use of foreign banks to hide assets:

Money Laundering Typology: Courtesy of The Egmont Group

Copyright 2011 Fred L. Abrams