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U.N. aid coordinator halts Venezuela cash transfer programs

The United Nations Office for Coordination for Humanitarian Affairs said on Wednesday it has halted programs in Venezuela that provide cash transfers to the poor via local nonprofit organizations. The U.N. office known as OCHA is asking the government of President Nicolas Maduro to establish clear rules regarding cash transfers. Read More

Incoming Biden Administration Hints at More Turkey Sanctions

President-elect Joe Biden’s pick to lead the State Department said the U.S. would decide whether more steps need to be taken against Turkey once it determines the impact of sanctions already imposed over Ankara’s acquisition of a Russian missile system. “We need to take a look… Read More

Biden Is Expected to Tap Michael Barr as Comptroller of the Currency

President Biden is expected to nominate Michael Barr, a former Treasury Department official, to a top post overseeing national banks such as JPMorgan Chase & Co. and Wells Fargo & Co., according to people familiar with the decision. Mr. Barr, who would… Read More
22nd January 2021
One of the first actions President Joe Biden has taken on his first day in office is to freeze Federal regulatory process, including the controversial self-hosted crypto wallet regulations proposed by former Treasury Secretary Steven Mnuchin. The announcement came in a White House memorandum for the… Read More
22nd January 2021
The House legal affairs committee on Wednesday finished discussion of a bill providing for the creation of an authority against corruption and gave the government two weeks to incorporate the changes into the bill so that it could be put to the vote soon. “Through discussion … views were exchanged,… Read More
21st January 2021
Prosecutors are close to a settlement with Dutch bank ABN Amro over allegations it failed to report or probe suspicious transactions by its clients for years, the FD newspaper said on Wednesday, citing sources close to the talks. ABN and prosecutors could not immediately be reached to comment on the… Read More
21st January 2021
By Will Neal, OCCRP, 19 January 2021 OCCRP – Namibian President Hage Geingob allegedly played a role in a bribery scandal that has shaken the southern African nation, according to a leaked legal document. Geingob’s name appears in an affidavit provided in April 2020 to the… Read More
21st January 2021
The United States on Tuesday sanctioned a network of oil trading firms, individuals and vessels that have helped Venezuelan state-run oil company PDVSA sell crude mainly to Asia despite Washington’s sanctions on the South American nation. The measure targets a network that the U.S. Treasury Department says helped the administration… Read More
21st January 2021
South Korean banks wary of U.S. sanctions are holding tight to billions of dollars of Iranian funds, Iran says, apparently unwilling to budge before Joe Biden assumes the U.S. presidency. The banks won’t release $7 billion of payments for Iranian oil that are stuck in won-denominated deposits in South Korea,… Read More
21st January 2021
Shortly after a controversial set of emails between a Deutsche Bank AG supervisory board member and Wirecard AG’s then-Chief Executive Officer Markus Braun became public last week, Paul Achleitner picked up the phone for a tense conversation. The Deutsche Bank chairman spoke… Read More
21st January 2021
Ten domestic helpers and a Hong Kong resident have been arrested for receiving payment in return for opening bank accounts that were used to collect and launder millions in swindled cash. Dozens of bank accounts were involved in the scheme and the funds were thought to have been tied to… Read More
20th January 2021
Australian banks washed $500 million for violent South American cocaine cartels in a sophisticated money-laundering scheme, with the proceeds of crime moving through multiple countries before it was disrupted by Australian law enforcement. Between 2014 and 2017 more than $100 million in drug money was funnelled through Australian banks each… Read More
20th January 2021
The Kuwaiti government has kept six gold companies under close scrutiny on suspicion of money laundering, after their businesses ballooned in the last three years, local media reported. Official sources told Al Rai newspaper that the Trade Ministery, during its audit of activities, discovered that there were gold companies that… Read More