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Aussie banks laundered $500m for cocaine cartels

Australian banks washed $500 million for violent South American cocaine cartels in a sophisticated money-laundering scheme, with the proceeds of… Read More

Hong Kong bank staff arrested in US$810m laundering probe

Seven former and current bank employees have been arrested in Hong Kong as part of a major operation against a US$810 million international money-laundering syndicate, police said Wednesday. “It’s the largest case we have busted in recent years,” said Yip Wing-lam, a superintendent at the commercial crime bureau, adding it… Read More

Swiss authorities ask Lebanon to cooperate on central bank probe

Swiss authorities have opened an investigation into money transfers by Lebanon’s Central Bank Governor Riad Salameh, a Lebanese government official told Reuters on Tuesday. Salameh denied any wrongdoing. “Both the prime minister and the president are in the loop” on the inquiry which is also looking into Salameh’s brother and… Read More