5th October 2020
Portuguese auditing companies that broke anti-money laundering laws while helping Angolan billionaire Isabel dos Santos grow her business empire should face criminal prosecution, the country’s regulator has said. The Securities Market Commission, CMVM in Portuguese, investigated nine auditing companies that worked with dos Santos following the publication of the Luanda… Read More
5th October 2020
Nearly a year after the Vatican appointed one of Italy’s top anti-mafia prosecutors to tackle alleged financial wrongdoing in the Holy See, the Council of Europe’s anti-money laundering body, Moneyval, arrived in the Vatican to make its own assessment. “Today the assessment team of the Committee of Experts on… Read More
5th October 2020
For years, the deputy head of Kyrgyzstan’s customs service enabled customs fraud from the shadows. In 2017, he was unceremoniously fired. But Raimbek Matraimov appears to have found a way to stay in the customs game with the help of some old friends, a family of Uighur smugglers… Read More
5th October 2020
Classified documents from Britain’s financial crime agency have revealed how it allowed JP Morgan to pay $875 million of suspicious funds to Dan Etete, a former Nigerian oil minister widely known as a convicted money launderer. The documents, rarely seen Suspicious Activity Reports (SARs), were filed by the banking… Read More
2nd October 2020
A U.S. visa program that provides residency to wealthy investors from abroad “faces serious corruption and money laundering risks,” according to a recent report published by Transparency International Russia. Throughout the span of several years, investigators from the civil society organization posed as wealthy Russian investors applying for an… Read More
2nd October 2020
The European Commission has expressed concern about Malta’s failure to secure convictions in high-level corruption cases and flagged “deep corruption patterns” within the country as worthy of note. In a rule of law report, the Commission noted that the worrying patterns had led to “strong public demand” for rule of… Read More
1st October 2020
The ownership of hundreds of thousands of companies registered in one of the world’s most secretive financial jurisdictions is to be made public for the first time. The British Virgin Islands (BVI) has committed itself to creating a publicly accessible register of company ownership by 2023 in a move welcomed… Read More
1st October 2020
New York’s top financial regulator says banks and governments have allowed money laundering to “metastasize” inside the banking system and wrap itself “within the guts of financial institutions.” In an opinion piece released days after the FinCEN Files investigation revealed sweeping failures by global banks to stop illicit… Read More
1st October 2020
The threat of financial crime in Jersey by overseas criminals is “significant”, a government report has found. The National Risk Assessment of Money Laundering is the first study of its kind and has been made public by the Government of Jersey. It found there was “no clear expression” on… Read More
30th September 2020
What links the Azerbaijani laundromat, the Danske Bank scandal and a fraudulent enterprise run by the Mafia from a caravan park in Lancashire? Aside from the egregious amounts of money involved, the common thread in all of these cases is the use (and abuse) of UK corporate… Read More