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TI: Most Defence Companies in The World Do Little to Combat Graft

By Zdravko Ljubas, OCCRP, 10 February 2021 OCCRP — Transparency International revealed on Tuesday that nearly three quarters of the world’s largest defence companies show minimum or no commitment to tackling corruption, wasting this way huge amounts of the nearly US$2 trillion of public money spent… Read More

The Italian Mafia and the Move Upstream

By James Bargent, InSight Crime, 9 February 2021 InSight Crime – Operation ‘Tiburón Galloway’ began as a local investigation by prosecutors in the Italian region of Calabria in 2001, but quickly snowballed into a multinational, multiagency investigation. Over five years, prosecutors uncovered a vast cocaine trafficking and… Read More

Serbian President’s ‘Best Man’ Linked to Businessman with Organized Crime Ties

By Dragana Pećo (OCCRP/KRIK) andVesna Radojević (KRIK), 9 February 2021 OCCRP — The shadow of Stanko Subotić has long stalked Serbian President Aleksandar Vučić. Allegations of links between the businessman with ties to organized crime and the country’s top politician have often been levelled, but never… Read More

11th February 2021

BVI’s financial secrecy score worsens in the last two years

The BVI’s ranking for financial secrecy has worsened in the last two years, according to the latest Financial Secrecy Index published by the Tax Justice Network (TJN). TJN publishes the index once every two years and ranks countries based on how much financial secrecy they supply to the world. The… Read More

10th February 2021

Malta: Nigerian footballer Sunday Eboh charged with money laundering in romance fraud

One of Malta’s most prolific Nigerian footballing imports, Sunday Eboh, has been charged with four others in a romance fraud case. Eboh, Maltese national Alexandra Pace, Nigerian nationals Collins Eguavoen, Marvis Iyeke and Tony Ogbonna were arrested late Monday night to be charged with money laundering. Police said that an… Read More

10th February 2021

Reform looms for Victoria’s ‘lap dog’ gambling watchdog

The former chief of Victoria’s gambling regulator says the watchdog’s public servants are too preoccupied with the administration of liquor licences to properly police Crown casino. Peter Cohen, who ran the Victorian Commission for Gambling and Liquor Regulation until 2010, said the organisation had lost its focus on gaming and… Read More

7th January 2021

Swedish bankers face identity crisis over digital currency plans

A new way to pay is causing existential angst among Swedish bankers who worry that the e-krona, an electronic equivalent of Sweden’s currency, could cost them their deposit base. Sweden launched a review into the e-krona’s feasibility in December after a pilot programme at the central bank, making the Nordic… Read More

17th December 2020

Norwegian bank in hot water over Fishrot

Norway’s largest bank, DNB, ended its relationship with Icelandic seafood company Samherji after the fishing company gave what the bank deemed inadequate explanations of payments to three offshore companies and a company owned by the son-in-law of Namibia’s former fisheries minister. Documents filed in the Windhoek High Court shed new… Read More

26th November 2020

Malta: Whistleblower Maria Efimova fears for her safety amid threats and new arrest warrants

Just when she thought the persecution was over, Maria Efimova, the whistleblower who helped expose the corrupt ties between organised crime and Malta’s political establishment, found that the nightmare was back. On Monday 17 November, Pantelis Varnava, Efimova’s husband, was put under arrest in Crete following a request from Cyprus’… Read More

26th October 2020

Westpac flags $1.2b hit to earnings on misconduct costs, write-downs

Westpac has flagged a $1.2 billion hit to earnings caused by write-downs across its insurance businesses, a growing remediation bill and mounting costs related to the landmark legal case over anti-money laundering law breaches. The big four bank said on Monday its life insurance business would be written down by… Read More

26th May 2020

Corporate Compliance Cuts Raise Prospect of Looser Internal Oversight

Corporate compliance departments are finding themselves in the crosshairs of corporate cost-cutters, raising concerns about the potential for mistakes or misbehavior to go undetected. Layoffs and furloughs in compliance departments have arrived in sectors hardest hit by the coronavirus pandemic, according to consultants, researchers and compliance officers. Companies less affected… Read More

1st April 2020

Trade Misinvoicing: A Common TBML Typology

Trade is the backbone of the global economy and all of us benefit from the trading of products and services across the continents. Global Trade Atlas (GTA) expected an increase in the real value of global trade in both 2020 and 2021 to respectively 188,70.58 and 197,94.77 USD billion. While… Read More

28th January 2020

Soccer leaker Rui Pinto named as Luanda Leaks whistleblower

A professional soccer whistleblower has been named as the source behind a global exposé of the siphoning of Angolan wealth by Africa’s richest woman and her family. Led by the International Consortium of Investigative Journalists, Luanda Leaks reveals how Isabel dos Santos, amassed a fortune of more than $2… Read More

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France’s Prudential Regulator Fines ING Bank €3 Million for AML Lapses

Cyprus to lift veil of secrecy with register of company owners