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Money laundering: UK Lawyer helped fraudsters, gangsters in 80 property deals

A solicitor who provided conveyancing services for a gang of drug dealers and fraudsters and helped launder their dirty cash has been jailed for seven years. Police discovered the Handforth-based professional’s activities while investigating the operation of an organised crime gang that had been laundering the proceeds of their criminal… Read More

Former Barclays bosses hid 322 million pounds in Qatar fees in 2008, court told

Four former Barclays (BARC.L) executives conspired to commit fraud by hiding 322 million pounds of payments to Qatar in return for cash injections in 2008, a prosecutor alleged at the opening of one of London’s most high-profile criminal trials. Former chief executive John Varley and three former directors are the… Read More

U.S. Fed investigating Deutsche’s role in Danske money laundering – Bloomberg

The U.S. Federal Reserve is investigating Deutsche Bank’s role in a money laundering scheme that has embroiled both it and Denmark’s Danske Bank, Bloomberg reported on Wednesday. Bloomberg, citing unnamed people familiar with the matter, said that the Fed’s investigation was at an early stage. – By Tom Sims and… Read More

24th January 2019

Canadian ambassador: Huawei exec could avoid US extradition

AP — Canada’s ambassador to China said he thinks a top Chinese executive has a strong case to avoid extradition to the United States and said he hopes she will be released soon in remarks one of his predecessors called “mind-boggling.” Ambassador John McCallum told Chinese… Read More

24th January 2019

Third former Tesco director cleared of fraud over 2014 scandal

The last of three former senior directors of Tesco (TSCO.L) accused of fraud at Britain’s biggest retailer in 2014 has been formally acquitted, leaving the Serious Fraud Office without a conviction for the accounting scandal. Carl Rogberg, 52, a former Tesco UK finance director, was tried last year along with… Read More

24th January 2019

London lawyer fined for anti-money laundering failures, PEP issues over wealthy clients

A solicitor, who was also a money laundering reporting officer (MLRO), has been fined £45,000 for failing to conduct anti-money laundering checks for wealthy clients believed to be linked to the Panama Papers scandal. Khalid Mohammed Sharif, a partner at London-based Child & Child, was involved in the law firm’s… Read More

23rd January 2019

Ronaldo agrees to pay €19 million fine over tax evasion

Cristiano Ronaldo has reportedly accepted a €18.8m fine and 23-month jail term over tax evasion charges in Spain. The award-winning football player is alleged to have avoided paying tax between 2010 and 2014, in a case centred around image rights deals. Ronaldo is reported to have acknowledged incidents amounting to… Read More

23rd January 2019

China demands US drop Huawei extradition request with Canada

AP — China on Tuesday demanded the U.S. drop a request that Canada extradite a top executive of the tech giant Huawei, shifting blame to Washington in a case that has severely damaged Beijing’s relations with Ottawa. Foreign Ministry spokeswoman Hua Chunying said Meng Wanzhou’s case… Read More

23rd January 2019

Seriously attacking real money laundering; A simple solution to a complicated problem

By Robert Mazur Testimony in the ongoing New York federal trial of “El Chapo” Guzman offered a repeat of facts heard in hundreds of similar trials since the prosecution of Al Capone. Despite that blaring reminder, governments, including the one now prosecuting El Chapo, appear to turn a deaf… Read More

22nd January 2019

French watchdog slaps Google with $57M fine under new EU law

AP — France’s data privacy watchdog fined Google 50 million euros ($57 million) on Monday, the first penalty for a U.S. tech giant under new European data privacy rules that took effect last year. The National Data Protection Commission said it fined the U.S. internet giant for “lack of transparency,… Read More

22nd January 2019

German banking regulator calls for better coordination, ‘urgent’ action in anti-money laundering

The president of German financial watchdog BaFin has urged firms to treat the fight against money laundering as a ‘very high priority,’ and called for better coordination in Europe to tackle the crime. In a recent speech, BaFin chief Felix Hufeld referred to reports of suspected cases of money laundering… Read More

22nd January 2019

UK: Firm laundered cocaine dealers’ cash through buying property; assets seized

Britain’s National Crime Agency (NCA) has seized a property worth £1.7 million from a Staffordshire-based woman who, with her firm, used money from drug dealers to purchase a number of properties. A Civil Recovery Order by Consent was made at the High Court in London on 14 January, leading to… Read More

21st January 2019

Report: Facebook’s privacy lapses may result in record fine

AP – Facebook may be facing the biggest fine ever imposed by the U.S. Federal Trade Commission for privacy violations involving the personal information of its 2.2 billion users. The FTC is considering hitting Facebook with a penalty that would top its previous record fine of $22.5 million , which… Read More

Must Read

Money laundering: UK Lawyer helped fraudsters, gangsters in 80 property deals

Money laundering: ‘Rise in UK suspicious activity reports should not mask failing system’

Financial crime: UK announces consultation on bitcoin, cryptoassets guidance

Former Barclays bosses hid 322 million pounds in Qatar fees in 2008, court told

U.S. Fed investigating Deutsche’s role in Danske money laundering – Bloomberg