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Next Hurdle in Treasury’s Corporate Transparency Push? Verification

The U.S. Treasury Department last month kicked off the process of establishing a long-awaited corporate ownership registry. The agency is already facing sharply diverging views on how it should work. Top of mind for financial institutions and other stakeholders is how ownership information that is submitted to the Treasury’s Financial… Read More

FCA opens investigation into collapse of Greensill Capital

The City watchdog has opened the door to a criminal prosecution of Greensill Capital and confirmed that it is investigating the failed lender. Nikhil Rathi, chief executive of the Financial Conduct Authority, said that the regulator was “investigating matters relating to Greensill Capital”. His comments came in a letter to… Read More

JPMorgan Must Turn Over U.S. Compliance Records in Nigerian Oil License Case: UK Court

The UK High Court has ordered JPMorgan Chase to turn over compliance documents ahead of a trial in which the bank stands accused of enabling the misappropriation of $875 million from the government of Nigeria, the Financial Times reported on Tuesday. The decision stems from an… Read More

12th May 2021

How bell-ringers and a bowls team are among groups caught up in HSBC’s money laundering blitz

Village bell-ringers and local bowls clubs are having their bank accounts closed by HSBC in a crackdown on money laundering. Last month, Money Mail revealed how the international bank had shut down the account of a pigeon racing club, and we have since heard from other community groups which have… Read More

12th May 2021

$100 million New Jersey deli: Ex-Trump tax lawyer owned shell company created by mystery investors

Shell companies sure make strange bedfellows. A New York real estate tax lawyer — who did work for former President Donald Trump decades ago — in 2011 purchased a shell company whose creators later became key investors in a mystery $100 million company that owns just a small… Read More

12th May 2021

New Zealand weighs amendment to seize unexplained assets in organized crime crackdown

The Government will create new laws to target flashy gang leaders and violent criminals, in a crackdown on organised crime and firearm ownership. Police Minister Poto Williams and Justice Minister Kris Faafoi announced the Government’s plan to introduce Firearm Prohibition Orders and bolster police powers to seize the assets of… Read More

12th May 2021

Mystery of Sanctioned Tycoon’s Assets in Zimbabwe Revival Plan

In December, the government of Zimbabwe announced a multibillion-dollar project called Kuvimba Mining House Ltd. that would hold some of the nation’s most valuable gold, platinum, chrome and nickel mines and whose revenue would be used to revive the country’s moribund economy. The venture would be 65% owned by the… Read More

12th May 2021

US Sanctions Seven Lebanese Linked to Hezbollah

The United States has sanctioned seven Lebanese nationals it says are linked to the Iran-backed Hezbollah group, and its financial arm, Al-Qard al-Hassan (AQAH). In a Treasury Department press release Tuesday, the seven were listed as Specially Designated Global Terrorists (SDGT). “From the highest levels of Hezbollah’s financial apparatus… Read More

12th May 2021

Romanian deputy PM Barna possibly investigated for EU funds embezzlement

Romania’s Anti-Fraud Department (DLAF) announced that it completed the investigations and sent to the anticorruption directorate (DNA) the European fund embezzlement cases involving four persons – including, according to Newsweek, deputy prime minister and USR-PLUS co-president Dan Barna. Barna has served as an expert in both projects, and his… Read More

12th May 2021

Earthly Delights: Religious Groups and Money Laundering in Dominican Republic

By Katya Bleszynka, Insight Crime, 10 May 2021 InSight Crime — Millions of dollars in state funds were allegedly laundered through a religious non-profit in the Dominican Republic, showing how minimal oversight of these faith groups makes them ideal vehicles for embezzlement. On May 10, security… Read More

12th May 2021

Hackers Find Easy Prey as U.S. Ignores One Warning After Another

The ransomware attack that shut down the nation’s biggest fuel pipeline prompted an all-too familiar question in the corridors of power in Washington and boardrooms across the country: Can anyone stop debilitating hacks? The assault on Colonial Pipeline Co. last week was a particular affront. Not… Read More

11th May 2021

Proposed merger of Crown and Star to renew scrutiny of Australian casino industry

The potential merger of Crown Resorts and Star Entertainment will put renewed pressure on state governments, casino regulators and casino operators to permanently end the use of junket companies that bring international gamblers to Australia. The Covid-19 pandemic had already ended the use of junket companies… Read More

11th May 2021

SACP vows to follow ANC footsteps on members charged with corruption

According to SABC News The South African Communist Party (SACP) will be taking the necessary measures against it’s members, if they are charged with serious crimes such as corruption, in a move that echoes the African National Congress’ (ANC) approach. The National Executive Committee for the… Read More

Must Read

Next Hurdle in Treasury’s Corporate Transparency Push? Verification

FCA opens investigation into collapse of Greensill Capital

JPMorgan Must Turn Over U.S. Compliance Records in Nigerian Oil License Case: UK Court

How bell-ringers and a bowls team are among groups caught up in HSBC’s money laundering blitz

$100 million New Jersey deli: Ex-Trump tax lawyer owned shell company created by mystery investors