Wirecard: Germany’s anti-money laundering unit failed to share ‘dozens’ of warnings
14th August 2020
Wirecard: Germany’s anti-money laundering unit failed to share ‘dozens’ of warnings
The anti-money laundering unit of Germany’s customs authority reportedly failed to share dozens of warnings with police that online payments company Wirecard was facilitating suspicious transactions even before the scandal broke in June. The Financial Intelligence Unit (FIU) only handed over a small portion of the information it had about… Read More
Trump oversees all-time low in white collar crime enforcement
12th August 2020
Trump oversees all-time low in white collar crime enforcement
Donald Trump calls himself the “law and order” president, but when it comes to white collar crime, he has overseen a significant decline in enforcement. The prosecution of securities fraud, antitrust violations and other such crimes has hit a record low as the pandemic slows the courts, according to one… Read More
Former PrivatBank owners used vast array of companies to steal, launder billions: DOJ
10th August 2020
Former PrivatBank owners used vast array of companies to steal, launder billions: DOJ
The Justice Department on Thursday accused a Ukrainian oligarch who has been considered an ally of Ukraine’s president of stealing billions of dollars from a bank he once owned, then using a vast array of companies to launder that money in the United States and all over the world. In… Read More
Dubai court tells bank to pay customer Dh4.6 million after his account got hacked
7th August 2020
Dubai court tells bank to pay customer Dh4.6 million after his account got hacked
A Dubai commercial court order for a bank to repay a customer Dh4.5 million has been upheld by the Dubai Court of Appeals. The amount is worth of balance, siphoned off from his account. In October last year, the Dubai Commercial Court found the bank responsible for the losses incurred… Read More
Juan Carlos fled Spain amid a dirty money probe, but where did he go?
5th August 2020
Juan Carlos fled Spain amid a dirty money probe, but where did he go?
When Spain’s royal palace announced Monday that former Spanish King Juan Carlos was leaving the country, it omitted a key detail. Where exactly had he gone? On Monday, several media outlets reported the former king had traveled to the Portuguese town of Cascais, where he spent parts of… Read More
FBI Raids U.S. Company With Ties to Ukrainian Oligarch
5th August 2020
FBI Raids U.S. Company With Ties to Ukrainian Oligarch
A U.S. company affiliated with the Ukrainian billionaire Ihor Kolomoisky that has been accused of participating in an international fraud scheme was raided by the FBI in two locations on Tuesday. Agents conducted “law enforcement activity” in Cleveland and Miami at addresses that correspond with the offices of Optima Management… Read More
GM alleges Fiat Chrysler spent millions to bribe UAW leaders
5th August 2020
GM alleges Fiat Chrysler spent millions to bribe UAW leaders
AP – General Motors is asking a federal judge to reconsider his dismissal of a lawsuit against Fiat Chrysler based on new allegations that FCA bribed union officials and GM employees with millions stashed in secret foreign bank accounts. GM alleges that bribes were paid to former United Auto… Read More
Malaysian lawyer faces money laundering charges involving $4.9m cheques from Najib
4th August 2020
Malaysian lawyer faces money laundering charges involving $4.9m cheques from Najib
Lawyer Mohd Hafarizam Harun on Monday (Aug 3) claimed trial to three money laundering charges for receiving RM15 million (S$4.9 million) in illicit funds from former premier Najib Razak in 2014 and 2015. Hafarizam, a legal adviser for Umno, pleaded not guilty when the three charges were read out to… Read More
$340m in London law firm’s account suspected of 1MDB connection
3rd August 2020
$340m in London law firm’s account suspected of 1MDB connection
Investigators probing one of the world’s largest financial frauds have said they suspect $340m (£255m) held in the bank account of a major London law firm is linked to money allegedly embezzled from the Malaysian state investment fund 1MDB. According to court papers, Malaysia’s anti-corruption agency is urgently trying… Read More
Swiss banker found guilty in $700 million 1MDB transfer
3rd August 2020
Swiss banker found guilty in $700 million 1MDB transfer
A former Coutts & Co. banker was found guilty of failing to flag money-laundering concerns related to a $700 million transfer into an account controlled by Low Taek Jho, the alleged mastermind behind the 1MDB scandal. The man, who was only identified as A., was fined 50,000 Swiss francs… Read More
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