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26th October 2020

Julius Baer to Withhold Millions in Bonuses from CEOs Who Oversaw AML Lapses: FT

Switzerland’s Julius Baer will withhold millions of francs in bonuses from two former chief executives after an internal investigation faulted the pair for failing to protect the bank from a South American money laundering scandal, the Financial Times reported. The Swiss wealth manager is seeking to withhold more than… Read More

23rd October 2020

Goldman Sachs fined record $2.9 billion to resolve 1MDB bribery scheme

Goldman Sachs, one of Wall Street’s oldest and most prestigious banks, will pay $2.9 billion in penalties and fees to settle federal charges over its involvement in a Malaysian bribery scheme, the Justice Department announced Thursday. Prosecutors in the Eastern District of New York charged the bank with conspiracy to… Read More

23rd October 2020

Australian police probe alleged Vatican funds transfer amid Pell trial

Australian police are investigating the alleged transfer of Vatican funds to Australia amid the prosecution of former Vatican treasurer George Pell for child sex abuse and have referred the matter to an anti-corruption body. The Australian Federal Police (AFP) confirmed on Wednesday they have received information from Australia’s financial crimes… Read More

20th October 2020

Goldman Poised to Pay More Than $2 Billion in DOJ’s 1MDB Probe

Goldman Sachs Group Inc. has reached a long-awaited pact with the U.S. Department of Justice to pay more than $2 billion for the bank’s role in Malaysia’s 1MDB scandal, and the deal may be announced within days, according to people familiar with the matter. The accord, part of an international… Read More

19th October 2020

Largest Scottish fraud case linked to regime of Colonel Muammar Gadaffi

A money-laundering operation that allegedly funnelled tens of millions of pounds through Scotland from Libya is believed to be the largest fraud investigation in Scottish history. The findings of a six-year inquiry by Police Scotland are being considered by prosecutors. Government officials in the north African country claimed that a… Read More

16th October 2020

Angola seizes assets of allies of former president Dos Santos

Angolan prosecutors have seized assets belonging to two of former President Jose Eduardo dos Santos’s closest aides, the latest step in a crackdown on corruption in the southern African country. Assets including a brewery and a vehicle assembly plant held by general Manuel Helder Vieira Dias, known as Kopelipa, and… Read More

16th October 2020

Spain extradites former banker sentenced in Iran for corruption

Spain has extradited a fugitive former Iranian executive implicated in a large financial corruption case, in what Iran’s judiciary says is the first such extradition from Europe. Alireza Heydar Abadipour, the former CEO of Sarmayeh Bank, touched down at Imam Khomeini International Airport in Tehran, where media and police officials… Read More

15th October 2020

Woman close to Vatican cardinal arrested in corruption probe

AP — The Vatican’s latest corruption scandal already had all the elements of a spy thriller: One cardinal who was fired during a “surreal” nighttime audience with the pope. Another cardinal, the nemesis of the first, who returned triumphantly to Rome after being acquitted of sexual abuse in Australia. And… Read More

12th October 2020

Malta: Opposition urges introduction of unexplained wealth orders

Opposition MP Claudio Grech has urged the government to introduce unexplained wealth orders to give the authorities more powers to seize assets potentially financed by criminal activities. While offering its support to the proceeds-of-crime bill being discussed in parliament, Grech told Times of Malta that the bill missed a… Read More

9th October 2020

Kenya: Ksh5 billion in MP Rigathi Gachagua’s accounts ‘mysteriously’ goes ‘missing’

The state cannot trace Ksh5 billion that had been deposited in Mathira MP Rigathi Gachagua’s bank accounts, suspected to be proceeds of money laundering and graft. The MP received Ksh12.5 billion through three accounts in Rafiki Micro Finance Bank, in seven years, and the Asset Recovery Agency (ARA) was able… Read More

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