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In SRA Report, Signs of Work Ahead for Law Firms and Regulators Alike

More than 40 percent of the 59 law firms recently examined by the Solicitors Regulatory Authority (SRA) are facing potential disciplinary actions for anti-money laundering (AML) compliance failures. That SRA, which focused its review on firms in England and Wales that offer trust and company services, found compliance deficiencies at… Read More

France suggests sanctions could be reimposed if Iran reneges on deal

International sanctions could be reimposed on Iran if it reneges on commitments under its nuclear deal, sources at the French presidency said on Tuesday, after Tehran said it would scale back its compliance a year after Washington pulled out. The U.S. military said on Tuesday that B-52 bombers would be… Read More

Nigerian opposition says government has frozen VP candidate’s accounts

Nigeria’s main opposition party said authorities had frozen the bank accounts of its vice presidential candidate in the run-up to elections next February. The People’s Democratic Party (PDP) said late on Saturday accounts belonging to Peter Obi, its vice presidential candidate, his wife, family members and their businesses had been… Read More

Chief Richard Weber, head of the criminal investigation division of the IRS, on tax evasion in the US

20th August 2018

New premier Imran Khan pledges to restore Pakistan’s economy

AP — Prime Minister Imran Khan said in his first televised speech in office that Pakistan is in the worst economic condition it has seen and pledged to cut government spending, end corruption and repatriate public funds. A day after he was sworn in, Khan promised… Read More

26th April 2018

Switzerland issues regulatory guidance for ICOs

Switzerland’s financial authority Finma has issued guidance for handling initial coin offerings (ICOs), setting out how it intends to apply rules for enquiries. At present ICOs are not covered by any specific law in Switzerland, however there are some laws under which they may fall. Finma analysis indicates that money… Read More

26th February 2018

US opens tough Saudi nuke talks, in shadow of Iran deal

AP – The Trump administration is opening talks with Saudi Arabia on a potentially lucrative atomic energy agreement that’s inextricably linked to an Obama-era nuclear deal with Iran. At stake: Billions of dollars in contracts for U.S. companies and bigger questions about America’s ability to keep friend and… Read More

26th December 2017

Bank of Uganda unfreezes ActionAid accounts

Bank of Uganda (BOU) has finally unfrozen bank accounts of ActionAid Uganda after nearly three months of closure. “The leadership of ActionAid Uganda is pleased to inform its partners, supporters, and staff that our quest to have our bank accounts unfrozen has been achieved following constructive discussions with some agencies… Read More

28th November 2017

Hong Kong-listed firm linked to UK fraud, laundering inquiry

By Richard Cook, Asia Times Two directors from a China-based company that recently listed on the Hong Kong Stock Exchange have been linked to a US$45 million tax fraud and money laundering inquiry in the UK. The pair, James Liang Jian-heng and Andy Chan Kit-lung, are both executive directors and… Read More

20th November 2017

Germany: Talks in forming coalition collapse, Merkel faces challenges

BBC Talks on forming a coalition government in Germany have collapsed, leaving Angela Merkel facing her biggest challenge in 12 years as chancellor. The free-market liberal FDP pulled out after four weeks of talks with Mrs Merkel’s CDU/CSU bloc and the Greens. FDP leader Christian Lindner said there was… Read More

10th November 2017

US weighs sanctions on Myanmar military over Rohingya crisis

Proposed sanctions against the Myanmar military should move quickly through the U.S. Congress due to strong bipartisan support, lawmakers told VOA. The Burma Sanctions Bill in the House of Representatives and a companion bill in the Senate would apply economic pressure on military generals with the aim of ending the… Read More

6th November 2017

Paradise Papers: Room of secrets reveals Glencore’s mysteries

By Bastian Obermayer, Edouard Perrin, Frederik Obermaier, Oliver Zihlmann, Petra Blum and Will Fitzgibbon, ICIJ The Glencore Room at Appleby’s Bermuda office wasn’t much to look at. Across from the women’s bathroom, the room dedicated to one of the offshore law firm’s most important clients held a filing cabinet,… Read More

George Pearmain, lead policy adviser on financial crime for Jersey, on his concerns and priorities for the Island

George Pearmain, lead policy adviser on financial crime for Jersey, on the past successes and future challenges for the island's financial crime prevention regime. Read More

Must Read

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U.S. readies sanctions, charges over Venezuela food program: sources

Top banking officials in China’s Tianjin warned against corruption

Pakistan should focus on ‘hawala’ transfers to stem corrupt fund flows: report