22nd July 2019
A Romanian-Australian businessman with a history of fraud, corruption, and misleading investors appears to have received at least $650 million from a West African oil and gas deal carried out with the help of well-positioned relatives of two consecutive Senegalese presidents. The sweetheart deal cost Senegal hundreds of millions of… Read More
19th July 2019
European law enforcement agencies set to lose the ability to tap criminals’ mobile devices with the launch of 5G technology must be brought into discussions earlier when communications networks are modernised, the new head of Europol told Reuters. Appealing to EU leaders for greater powers to fight tech-savvy criminals, Catherine… Read More
18th July 2019
Financier Jeffrey Epstein is an accused sex trafficker. This much we know. The new SDNY investigation will hopefully cure the bogus plea deal Epstein received in Florida at the direction of then-U.S. Attorney Alex Acosta, who is now an ex-secretary of… Read More
18th July 2019
Canton Zug has been positioning itself as the global capital of cryptocurrencies, but accusations of fraud engulfing cryptocurrency markets could curb its ambitions. In the United States, legal proceedings implicating cryptocurrency exchange platform Bitfinex in a $850 million (CHF841 million) fraud scandal are forcing Zug’s so-called “Crypto Valley” to examine… Read More
17th July 2019
A recent update to the US Justice Department’s guidance on assessing corporate compliance programmes is intended to help federal prosecutors determine when to pursue criminal indictments or prosecution agreements with companies, but that shouldn’t deter compliance professionals from reviewing the document. There are lessons within for heads of compliance and… Read More
16th July 2019
The Russian Ministry of Interior announced on Friday that 10 people will stand trial for allegedly conducting 4 billion rubles (US$64 million) of illegal banking activities in the Russian Chuvash Republic. The defendants stand accused of creating 30 fake firms over six years, each existing for only a… Read More
16th July 2019
It was December 30, 2015, and Russian businesswoman Olga Kurbatova, who founded a successful Moscow-based beverage company called Happyland Corp, was celebrating the New Year with her son when she got an unexpected phone call from the bank that managed her fortune, Credit Suisse. There had been a most unhappy… Read More
16th July 2019
The director of the Sistine Chapel Choir, which has provided the musical backdrop to papal events for centuries, has resigned following allegations of fraud and embezzlement. Monsignor Massimo Palombella has “concluded his service” after Pope Francis approved his request to end his tenure, the Vatican said in a statement on… Read More
15th July 2019
India has told a tribunal the local auditing affiliate of international accounting group Deloitte Touche Tohmatsu is misreading a key federal law as the firm seeks to avoid a five-year ban on new business, according to legal documents reviewed by Reuters on Sunday. Deloitte Haskins & Sells LLP is contesting… Read More
15th July 2019
A new UK plan to tackle economic crime would fail to hold companies sufficiently liable for illicit activity beyond bribery and tax evasion, anti-corruption campaigners told the Financial Times. Under current laws, British firms can only be deemed guilty of other financial crimes if the “directing mind”—a senior manager… Read More