4th April 2019
The largest ever money laundering scandal in Europe is rippling through the region’s banks. It began in the Baltics and has engulfed several Nordic lenders, notably Denmark’s Danske and Sweden’s Swedbank, who had large Baltic operations. Here are some facts about Europe’s problems. HOW DID THE CURRENT SCANDAL EMERGE? The… Read More
4th April 2019
By James Chin, University of Tasmania The corruption trial of Najib Tun Razak, the former prime minister of Malaysia, has finally begun following two postponements and an attempt on the opening day of the trial for a third. Many Malaysians were starting to wonder if Najib would… Read More
4th April 2019
AP — Malaysia’s government said Wednesday that a luxury yacht allegedly bought with money stolen from a troubled state investment fund will be sold to casino operator Genting Berhad for $126 million, half its original price. Attorney General Tommy Thomas said the Admiralty Court on Wednesday approved the sale… Read More
3rd April 2019
After nearly two months of delays, the trial of Najib Razak is set to begin Wednesday on charges that the former Malaysian prime minister took part in a scheme to steal vast sums from a state fund he established a decade ago. The trial, which marks a milestone in a sprawling financial… Read More
3rd April 2019
Members of the European Parliament are voicing concerns about the rule of law in Malta and Slovakia following the murder of two journalists investigating corruption and organized crime in the countries. The parliamentarians on Thursday formally adopted the conclusions reached last summer by a working group established within the Civil… Read More
1st April 2019
The UK’s top fraud prosecutor has thrown her weight behind American-style corporate plea bargains amid criticism that they can allow companies to admit wrongdoing without leading to successful prosecutions of individuals. Lisa Osofsky, an Anglo-American former FBI lawyer now in charge at the Serious Fraud Office (SFO), said the use… Read More
28th March 2019
As more large firms go bankrupt in the UK, external auditors and the body that oversees them, the Financial Reporting Council (FRC), continue to be under a very bright spotlight. A number of initiatives are underway. Auditors, themselves, are under review by the FRC. The Competition and Markets Authority (CMA)… Read More
27th March 2019
Kazakhstan’s BTA Bank JSC has filed a lawsuit accusing a New York real estate developer of helping to launder tens of millions of dollars through a Trump-branded property and other U.S. businesses. The complaint, filed Monday in the Southern District of New York, alleges that wealthy Kazakh businessman Ilyas Khrapunov… Read More
19th March 2019
AP — Prosecutors say a former executive who embezzled nearly $2.5 million from a Southern California art reproduction company has been sentenced to more than 14 years in prison. The Los Angeles County District Attorney’s Office said Monday that 43-year-old Adam Reed Zucker pleaded no contest last year to… Read More
11th March 2019
The global nature of trade brings with it huge compliance risks, exposing businesses to a wide array of rules and regulations requiring them to mitigate their exposure to money laundering and other financial crimes. One of the biggest risks that businesses face is employing third parties, be they suppliers, agents,… Read More