23rd May 2019
Washington urged South Africa on Wednesday to extradite Mozambique’s former finance minister Manuel Chang to the United States to face charges related to a $2 billion debt scandal, after it was decided he be sent to his home country. Chang has been in custody in South Africa since December when… Read More
22nd May 2019
Reports of suspicious financial activity in the Vatican reached a six-year low in 2018, an internal watchdog report showed on Tuesday, continuing a trend officials said showed reforms were fully embedded. The annual report by the Vatican’s Financial Information Authority (AIF) also showed that Vatican’s cooperation with international financial regulators… Read More
22nd May 2019
Reports of investment scams linked to crypto-assets and foreign currency trades have nearly tripled over the past year compared to the previous 12-month period, two UK organizations said Tuesday. Investors in the online trading schemes lost £27 million over the year, with average losses for individuals totaling £14,600, according to… Read More
22nd May 2019
Mexico’s government will auction a Lamborghini, homes and other assets seized from gangsters and at least one former politician, officials said on Tuesday, part of a “Robin Hood” program to use millions of dollars in ill-gotten gains to aid the poor. The first auction, set for Sunday, will seek bids… Read More
20th May 2019
Cash is considered among the hardest assets for a company to fake, which is why the disappearance of a combined $6.1 billion from two Chinese companies has dumbfounded investors and forced regulators to take action. Drugmaker Kangmei Pharmaceutical Co Ltd, a constituent of MSCI’s global indexes, in April said an… Read More
16th May 2019
Banks in Britain could face fines if they make selective and arbitrary decisions about compensating customers who have fallen victim to fraud, the Financial Conduct Authority’s head of enforcement said on Wednesday. A code of conduct designed to offer greater protection comes into force on May 28. Mark Steward told… Read More
15th May 2019
Facing unprecedented pressure to clamp down on criminal groups, UK law enforcement officials are in need of an additional £2.7 billion in funding over the next three years, the head of the National Crime Agency (NCA) said Monday. The agency is seeking a 54-percent increase in its annual budget, which… Read More
15th May 2019
A judge on Tuesday ordered Susana Villaran, the former mayor of the Peruvian capital Lima, to 18 months in pre-trial detention in connection with alleged bribes from Brazilian construction companies Odebrecht and OAS. Judge Jorge Chavez said Villaran would seek to obstruct an ongoing corruption probe unless detained before trial,… Read More
14th May 2019
The UK National Crime Agency (NCA) has seized approximately £6 million in assets from a British lotto winner, a property developer and a barrister believed to be members of an international money laundering ring. The seizure orders mark the culmination of an 8-year civil recovery case against businessman Jonathan Nuttall… Read More
10th May 2019
Brazilian police launched an operation on Thursday to arrest 17 people suspected of involvement in a scheme to launder money and siphon off funds at state-controlled Banco do Brasil SA, authorities said. The investigation targeted employees of Banco do Brasil and businessmen linked to firms set up to collect debt… Read More