Featured 360 News

EU Sixth Anti-Money Laundering Directive (6AMLD): Countdown to Enforcement Begins

With its publication in the Official Journal of the European Union in late 2018, the Sixth EU Anti-Money Laundering Directive (6AMLD) is now on its way. Member-states have until December 2020 to transpose the directive into domestic law—an effort that would standardize criteria across the economic bloc for when predicate… Read More

Zambia uncovers $8 billion tax scam at prominent mining firm

Zambia’s tax agency said on Tuesday it had uncovered $8 billion (£5.7 billion) tax scam at an unspecified “prominent mining company”, nearly double the total amount the country collected in taxes in last year. The Zambian Revenue Authority (ZRA) said in a statement it had issued a preliminary tax assessment… Read More

Global regulators seal final post-crisis banking rules

Regulators from around the world tied off the final round of new regulations for banks in Frankfurt on Thursday, the Basel Committee on Banking Supervision said in a statement, closing a saga begun at the height of the financial crisis. Completing the so-called “Basel III” reforms… Read More
30th January 2017
The Malaysian sovereign wealth fund, 1 Malaysia Development Bhd (“1MDB”), has been the subject of extensive press coverage and regulatory scrutiny. In this recorded webinar, Stephen Platt, Hugo Miller and Clare Rewcastle-Brown examine the 1MDB case from an AML perspective. They offer practical lessons for compliance professionals on topics including managing sovereign wealth funds, monitoring politically exposed persons (PEPs) and mitigating your institution from transactions involving the proceeds of corruption. Read More
9th January 2017
A syndicated loan is a loan made by a group (or “syndicate”) of lenders who together provide funds for a single borrower. Syndicated loans are usually made to corporations or governments, and are also often used in “project finance” (that is the funding of large-scale projects, like oil fields or power stations). Read More
4th January 2017
Jan 4 Deutsche Bank's head of fighting financial crime and money-laundering, Peter Hazlewood, is leaving his post after just six months, a source familiar with the matter told Reuters. Read More
4th January 2017
A group of bipartisan senators is preparing a bill that would offer sanctions against Russia, lawmakers confirmed as the Senate convened a new session of Congress on Tuesday. Read More
4th January 2017
BB&T says it will improve how it fights money laundering as part of a broad U.S. regulatory crackdown on the potential for illicit money flows. Read More
4th January 2017
Former president and now Pampanga representative Gloria Macapagal Arroyo has accused the Anti-Money Laundering Council (AMLC) of being a political tool of the previous Aquino administration. Read More
3rd January 2017
The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Fargo & Co's (WFC.N) opening of accounts without customer permission. Read More
3rd January 2017
Efforts to tackle tax abuse and financial crime are at risk of being weakened by new European council proposals that would restrict public access to key company information, civil society groups have warned. Read More
3rd January 2017
Expressing apprehensions that the Jan Dhan accounts may be used for money laundering in the 2017 UP assembly polls, social organisation Association for Democratic Reforms (ADR) said that demonetisation would bring to the fore a new type of broker of black money, while a significant portion of the black money would be spent on media. Read More
29th December 2016
A young activist who became prominent in Ukraine's 2014 uprising and was later appointed to work on a major project to reform the corruption-plagued customs of Odessa is herself being investigated for corruption. Read More