Featured Must Read

Corporate Transparency Advances in Three Nations, More Tortoise than Hare

Shell companies—specifically, of the illicit sort—have so long been entangled with the concept of money laundering that one term often evokes the other.  But after decades of acknowledging the problems associated with anonymous corporate ownership, and with little to show in the way of preventing the misuse of shell… Read More

Ex UBS compliance officer jailed for insider dealing

A London judge on Thursday sentenced both a former UBS (UBSG.S) compliance officer and her day-trader friend to three years in jail after they were convicted by a jury of insider dealing. Fabiana Abdel-Malek, 36, and Walid Anis Choucair, 40, were both found guilty after a two-month trial… Read More

Unit of Norway’s DNB fined in anti-money laundering probe

Norway’s Financial Supervisory Authority (FSA) said on Tuesday it had fined a subsidiary of Norwegian bank DNB for failing to comply with anti-money laundering regulations. DNB Naeringsmegling, a real estate brokerage for commercial property, was given a so-called non-compliance fee of 30,000 Norwegian crowns ($3,532) for failing to properly impose… Read More
24th June 2019
The United Arab Emirates Central Bank is focusing on the real estate sector as part of its work to combat money laundering in the country, an official said on Sunday. The UAE has been tightening its financial regulations to fight the perception among some foreign investors that it is a… Read More
19th June 2019
AP — Switzerland’s federal criminal court says it recused attorney general Michael Lauber from overseeing a sweeping criminal investigation of FIFA officials. The federal court says it upheld requests by two claimants it did not identify to remove Lauber from the case because of undeclared meetings with FIFA president… Read More
12th June 2019
The United States on Tuesday slapped sanctions on Syrian businessman Samer Foz and his family, who have close ties to President Bashar al-Assad and who Washington said has made millions by developing properties on land seized from those who have fled the Syrian war. The sanctions were being placed on… Read More
15th May 2019
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
8th May 2019
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
10th December 2018
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
20th August 2018
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’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
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