China’s anti-corruption watchdog promises to target overseas funds
29th September 2020
China’s anti-corruption watchdog promises to target overseas funds
China’s top anti-corruption body has said it will step up its efforts to target funds sent overseas by corrupt officials days after the Canada-based singer Wanting Qu demanded justice for her mother, who has been detained for six years on bribery charges. In a Sunday morning post titled Overseas Is… Read More
Diacks’ $55m of suspicious bank transfers linked to Tokyo Olympic bid
28th September 2020
Diacks’ $55m of suspicious bank transfers linked to Tokyo Olympic bid
More than $55m was transferred in and out of suspicious bank accounts linked to Lamine Diack, the disgraced former head of global athletics, and his son, Papa Massata, according to a huge leak of secret financial documents. Last week the Diacks were sent to prison for their part in… Read More
Global tax abuses, money laundering and corruption take heaviest toll on the world’s poor, UN report says
28th September 2020
Global tax abuses, money laundering and corruption take heaviest toll on the world’s poor, UN report says
Governments and banks around the world are doing little to tackle tax abuses, money laundering and corruption in a global financial system that perpetuates inequality and condemns people to endemic poverty, a high-level United Nations panel concluded on Thursday. The International Financial Accountability, Transparency and Integrity panel, comprised of… Read More
Wealthy Britons step up citizenship shopping to thwart Brexit
28th September 2020
Wealthy Britons step up citizenship shopping to thwart Brexit
The number of British entrepreneurs looking to “buy” citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms say, as prospects of a post-Brexit trade deal between Britain and the bloc darken. Investment immigration firm Astons said it had seen a 50% and 30%… Read More
‘Major Questions’: FinCEN Leak Sheds Light On The Hidden Money Flows Of Putin’s Russia
25th September 2020
‘Major Questions’: FinCEN Leak Sheds Light On The Hidden Money Flows Of Putin’s Russia
In the summer of 2015, the New York branch of British bank Barclays flagged as suspicious a transfer of $1 million to former Moscow Deputy Mayor Iosif Ordzhonikidze for “consulting services.” The transfer originated with a company called BEM Global Corp., which is controlled by prominent real-estate developer Roman Fuks. Read More
Pakistan government files money laundering case against Shahbaz Sharif, family
25th September 2020
Pakistan government files money laundering case against Shahbaz Sharif, family
The Pakistan government has filed a Rs 7 billion (USD 41.9 million) money laundering case against the Leader of the Opposition Shahbaz Sharif and his family. Shahbaz, 69, is the younger brother of former premier Nawaz Sharif. He served as chief minister of Punjab from 2008 to… Read More
FinCEN Files: Firm owned by top Nigerian lawyer flagged in U.S. for moving millions of dollars abroad
25th September 2020
FinCEN Files: Firm owned by top Nigerian lawyer flagged in U.S. for moving millions of dollars abroad
A law firm owned by Rickey Tarfa, a senior lawyer facing trial over bribery allegations in Nigeria, has appeared in leaked suspicious activity reports filed with the United States’ Financial Crimes Enforcement Network (FinCEN). The SAR filed on Rickey Tarfa & Co showed 427 suspicious wire transfers, totalling $2,261,181.22,… Read More
Something for nothing: Ukrainian oligarch Dmytro Firtash profited from bailout loans
25th September 2020
Something for nothing: Ukrainian oligarch Dmytro Firtash profited from bailout loans
Ukrainian oligarch Dmytro Firtash siphoned off more than $190 million of state loans his bank received in the wake of the global financial crisis, part of which he ploughed into a deal to privatize a titanium manufacturing company, according to leaked documents. Bank filings and details from a criminal investigation… Read More
‘Wired to make money’: Barclays’ private bankers serve ultra-rich, as watchdogs sound alarms
24th September 2020
‘Wired to make money’: Barclays’ private bankers serve ultra-rich, as watchdogs sound alarms
By Tanya Kozyreva, Michael Hudson, Spencer Woodman, Will Fitzgibbon, Agustin Armendariz, Golden Matonga, Delphine Reuter, Micah Reddy and Fergus Shiel, ICIJ, 23 September 2020 ICIJ — Ivor Ichikowitz recoils at the arms industry’s “reputation for being very cloak-and-dagger.” “We are not in the destroying-anything business,” the 53-year-old founder of South… Read More
British Lawmakers Want Probe of U.K. Money-Laundering Reputation
24th September 2020
British Lawmakers Want Probe of U.K. Money-Laundering Reputation
A British parliamentary committee that scrutinizes financial affairs has asked the government and securities regulator to look into reports that the U.S. considers the country a “higher risk” jurisdiction for money laundering and economic crime. In one of the first responses by U.K. politicians to leaked U.S. regulatory documents, Mel… Read More
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