Featured Enforcement

HSBC moved vast sums of dirty money after paying record laundering fine

By Spencer Woodman, ICIJ, 21 September 2020 ICIJ — In March 2014, three men kidnapped Reynaldo Pacheco and bludgeoned his head with rocks, leaving the 44-year-old father of a young daughter dead in a creek bed in California’s Napa County. Local authorities determined that his murder was a consequence… Read More

Companies House to tighten its checks

The government is to overhaul the system of checks for Britain’s register of companies after criticism that the database is too easily abused by money launderers and fraudsters. Directors will be required to verify their identities with Companies House before they are appointed to a business under plans announced yesterday. Read More

FinCEN Files: UAE central bank failed to prevent sanctions evasion

The United Arab Emirates’ central bank failed to act on warnings about a local firm which was helping Iran to evade sanctions, the BBC has found. Leaked documents show Dubai-based Gunes General Trading processed $142m (£110m) in suspicious transactions through the UAE financial system in 2011 and 2012. The activity… Read More
22nd September 2020
Macquarie Group and Commonwealth Bank are facing fresh scrutiny of their oversight of anti-money laundering laws after it emerged that overseas banks had reported close to $167 million of potential dirty money transactions flowing through the two Australian banks. The International Consortium of Investigative Journalism (ICIJ) has released a… Read More
22nd September 2020
An unprecedented glimpse into the staggering amounts of suspect money that flow through the international banking system is revealed in leaked files from an agency of the US Department of the Treasury that have been seen by The Irish Times. The files show that the world’s largest banks play a… Read More
21st September 2020
BuzzFeed News — When Robert Meltzer, who runs gyms for children in Los Angeles, found that more than $60,000 in payroll taxes — half a year’s worth — had gone missing in 2013, it was too late. When something similar happened to Stanford Media Group, a company that sold CDs… Read More
21st September 2020
Swedbank AB said Friday that Sweden’s financial supervisory authority is investigating the bank for suspected breaches of market-abuse regulations. In a statement, the bank said the investigation covers the period between Sep. 20, 2018, through Feb. 20, 2019, and relates to the disclosure of insider information and the obligation… Read More
21st September 2020
By Tom Stocks, Daniela Castro, Kelly Bloss and Adam Klasfeld, OCCRP, 20 September 2020 OCCRP — Best known for laundering billions of dollars for Iran, notorious gold smuggler Reza Zarrab’s ties to Russia received only passing mention when he was prosecuted in the U.S. in 2016. That was a huge… Read More
18th September 2020
Deloitte has been ordered to pay a record £15 million fine for “serious and serial failures” in its audit of Autonomy, the British software company at the centre of one of the country’s largest civil fraud cases. The accounting firm and two of its former partners were found by a… Read More
18th September 2020
The US Department of Justice (DoJ) has moved to seize $330m (£256m) held in the bank account of a major London law firm which prosecutors allege is derived from the proceeds of one of the world’s largest financial frauds. The DoJ has filed civil forfeiture proceedings against funds… Read More
18th September 2020
The United States rolled out sweeping new sanctions on Thursday, blacklisting cyber actors the Donald Trump administration says are backed by Iranian intelligence and Lebanon-based targets it says are linked to Hezbollah. The US Department of Treasury sanctioned two Lebanon-based companies, Arch Consulting and Meamar Construction, for alleged links to the… Read More
18th September 2020
The former president of international athletics has been jailed for two years by a French court after being found guilty of taking millions of pounds in bribes to cover up positive drugs tests by Russian athletes. Lamine Diack, 87, who ran athletics for 16 years until he was succeeded by… Read More
18th September 2020
The Justice Department said on Wednesday that a group of hackers associated with China’s main intelligence service had infiltrated more than 100 companies and organizations around the world to steal intelligence, hijack their networks and extort their victims. The United States government presented the allegations in a set of three… Read More