9th October 2020
The boss of the Serious Fraud Office today called for new laws making it easy to obtain convictions against companies in the wake of the Barclays Qatar case’s collapse. After a nine year investigation and two jury trials, Barclays’ executives were cleared of lying to the financial markets about fees… Read More
9th October 2020
AP — Pope Francis told European anti-money laundering experts Thursday that the Vatican was committed to “clean finance,” as he denounced financial speculation amid a spiraling corruption investigation in the heart of the Holy See. It is rare for a head of state to meet with the Council of Europe’s… Read More
9th October 2020
Malta’s Individual Investor Programme has lost some 73 of its agents out of a list of 200 firms and approved agents selling citizenship to the ultra-rich. Of those 73, only four practitioners have had their license outright suspended by the IIP agency: these include two licences held by the legal… Read More
8th October 2020
President Jair Bolsonaro said he’s put an end to the country’s long-running Carwash probe, which has sent hundreds of Brazil’s political and business power brokers to jail, because corruption is no longer an issue in his government. The far-right president, elected in 2018 on a law-and-order platform, said he… Read More
7th October 2020
Britain will not be deterred from using anti-graft powers to target foreign oligarchs’ suspected dirty money despite the large cost risk and a recent court setback, a senior police officer has said. Unexplained Wealth Orders (UWOs) were introduced in 2018 to help the authorities target the illicit wealth of foreign… Read More
7th October 2020
Rishi Sunak will take on new powers to block companies from listing on the London Stock Exchange on national security grounds. The chancellor is understood to be preparing to launch a consultation on the details in the coming weeks in response to demands from MPs. The limitations of the rules… Read More
7th October 2020
A court in the Maldives has sentenced former Vice President Ahmed Adeeb to 20 years in prison for corruption charges related to leasing tropical islands for hotel development. The 38-year-old, who pleaded guilty last month under a plea bargain, was also fined $129,892 on Monday. The Maldives Criminal Court charged… Read More
7th October 2020
The latest UNCTAD report titled Economic Development in Africa Report 2020 ranked Kenya at position 24 globally among countries that record high illicit financial flows. The report was presented by Secretary General of UNCTAD Mukhisa Kituyi at the end of September 2020. This places Kenya ahead of Nigeria (34),… Read More
7th October 2020
A Saudi chief justice and seven other judges are being prosecuted for bribery, money laundering and influence peddling, in the latest crackdown on high-profile offenders in the Saudi Arabia, local media reported. A hearing was held to try the chief justice, charged with receiving a bribe, money laundering and abusing… Read More
6th October 2020
For over a decade, there have been calls in Congress to address shadowy corporate entities, known as shell companies, that are considered a cornerstone of fraud, corruption, and money laundering. These companies help unsavory characters and organizations hide wealth or use the proceeds of crime to buy up legitimate assets… Read More