9th October 2019
Twenty years ago, anti–money laundering (AML) was an afterthought for most banks. Today, it’s at or near the top of the executive agenda. Daniel Moore is group head and chief risk officer at Scotiabank, one of Canada’s top five banks, with 99,000 employees and more than $1 trillion in assets. Read More
3rd October 2019
AP — Prosecutors alleged Wednesday that convicted Mexican drug lord Joaquín “El Chapo” Guzmán personally gave $1 million in bribes to the brother of Honduras’ president to pass on to the Central American leader, who swiftly denied wrongdoing. Prosecutor Jason Richman revealed the allegation in… Read More
3rd October 2019
A Kenyan anti-corruption drive uncovered the equivalent of tens of millions of dollars in unexplained wealth when it retired old banknotes, the central bank said on Wednesday, adding much of the cash appeared to have been gained in “the criminal area”. The East African nation has a diverse, fast-growing economy,… Read More
1st October 2019
The United States issued new economic sanctions on Monday against seven Russians linked to an internet troll factory in what Secretary of State Mike Pompeo called a warning to foreigners who seek to interfere in American elections. The penalties were announced as Congress is investigating whether President Trump tried to… Read More
30th September 2019
Estonia’s interior minister on Sunday called for an enquiry into the death of the former head of Danske Bank’s Estonian branch, which is at the center of investigations into the world’s largest money laundering scandal. Last week, police in Estonia discovered the body of Aivar Rehe, who ran the Danish… Read More
30th September 2019
Britain will introduce laws after it leaves the European Union to freeze assets of those deemed responsible for human rights abuses, foreign minister Dominic Raab said on Sunday. The United States passed a law known as the Magnitsky Act in 2012 under which it has imposed visa bans and asset… Read More
30th September 2019
Financial intelligence agency AUSTRAC is warning pubs and clubs, money remitters and fintechs offering payments services to “harden” their technology systems to help protect against organised crime, or risk being hit with public enforcement actions as the agency is emboldened after the Hayne royal commission. After last week ordering United… Read More
30th September 2019
The number of wealthy foreigners investing at least £2m in the UK in exchange for a “golden visa” has risen to a five-year high, despite a clampdown on the scheme in the aftermath of the Skripal novichok poisoning attack. The Home Office granted 255 people tier-1 investor visas in… Read More
27th September 2019
A banker’s wife who spent £16million during a series of shopping sprees in Harrods has escaped extradition back to Azerbaijan on fraud charges. Zamira Hajiyeva, 55,  is accused of embezzling millions of pounds from the state-owned bank that her husband ran for 14 years. But she won her extradition battle on… Read More
27th September 2019
The former head of Danske Bank in Estonia, the unit at the center of a $220 billion money-laundering scandal, was found dead after disappearing from his home on Monday. Aivar Rehe, who was chief executive officer of the branch until he left in 2015, had been reported missing from his… Read More