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EU Threatens to Go After Money-Laundering Laggards With Lawsuits

A number of European Union countries failed to meet a Jan. 10 deadline to fully apply strict new measures against money laundering, compounding the bloc’s challenge in weeding out dirty money. The European Commission, the EU’s executive arm, is preparing to launch so-called infringement procedures next month to… Read More

Northern Ireland: Seven arrested in £215-million money laundering investigation

Seven people have been arrested following a major police operation against money laundering in Northern Ireland. A senior detective has described it as “one of the most significant live investigations into money laundering in the UK” involving £215 million. Six men and one woman were detained after 15 searches at… Read More

Halkbank Hit With U.S. Demand for Millions in Contempt Fines

Turkey’s Halkbank should pay millions of dollars in fines for its continued failure to respond to U.S. sanctions-evasions charges, federal prosecutors in New York said. In a court filing Tuesday, the government asked a federal judge to impose a daily $1 million fine that would double each week the… Read More

22nd January 2020

Fewer letterbox companies in the Netherlands, as regulations begin to bite

The number of letterbox, or shell, companies registered in the Netherlands has fallen by almost one third over the past five years, the Financieele Dagblad said on Tuesday. Tougher rules for trust offices and more stringent supervision by the central bank are among the reasons for the… Read More

22nd January 2020

Nigeria charges ex-attorney general with financial crimes in $1.3 billion oil deal

Nigeria’s financial crimes watchdog charged a former attorney general suspected of taking bribes to facilitate a $1.3 billion oil block sale, the agency said on Tuesday, in the latest twist in one of the industry’s biggest alleged corruption scandals. An international investigation into the 2011 sale of the offshore oilfield… Read More

22nd January 2020

Two Umno leaders charged with money laundering linked to Malaysia scandal

Two Umno leaders were charged with money laundering yesterday, for funds allegedly received from former Malaysian prime minister Najib Razak seven years ago. Pontian MP Ahmad Maslan was slapped with two charges, namely failure to declare RM2 million (S$663,000), which he allegedly received from Najib, when filing for taxes for… Read More

22nd January 2020

Ex-President of Interpol Imprisoned for Bribery in China

A former senior Chinese police official who also served as president of Interpol was sentenced on Tuesday to 13 and a half years in prison for bribery, in a case that his wife has denounced as stemming from a political vendetta. When the official, Meng Hongwei, was elected president… Read More

21st January 2020

Portugal probes Angola leaks as Eurobic bank distances itself from dos Santos

Portuguese authorities said on Monday they had started investigating media reports concerning Angolan billionaire Isabel dos Santos, while a small bank said it had decided to put an end to commercial relationships with entities she controls. This was the latest fallout from increased scrutiny of Angola’s former first daughter, a… Read More

21st January 2020

Australia’s Packer to face powerful Crown probe into alleged money laundering

The NSW inquiry into Crown Resorts’ casino operations will assume the powers of a royal commission to summon James Packer and Lawrence Ho to answer questions about alleged criminal behaviour and links to a banned casino operator. The inquiry – comprising five public hearings starting on February 24 – is the first… Read More

21st January 2020

INX Media Case: Enforcement Directorate Questions Karti Chidambaram Again

Karti Chidambaram, son of former Union minister P Chidambaram, appeared before the Enforcement Directorate on Monday for questioning in the INX Media money-laundering case, officials said. The investigating officer of the case recorded the statement of Karti, a Congress Member of Parliament from Tamil Nadu’s Sivaganga, under the Prevention of… Read More

21st January 2020

Ex-Portuguese minister named in €35 million corruption probe involving Venezuelan funds

Former Socialist minister António Vitorino – once tipped as a contender for party leader – is being cited by Spanish prosecutors over a “scheme of corruption and money laundering” involving more than €35 million in Venezuelan funds. Vitorino has denied the allegations, saying they are “absolutely false”. The story is… Read More

21st January 2020

‘Suspicious’ that Malta’s FIAU not given resources when investigating PEPs – former director

If the police did nothing on reports compiled and sent by the Financial Intelligence Analysis Unit, what was the point of having these reports, former FIAU director Manfred Galdes said. He said it was suspicious that the FIAU lacked resources – and were not given any – at the time… Read More

21st January 2020

Internal Affairs probes second Auckland church over cryptocurrency links

The Department of Internal Affairs (DIA) is investigating an Auckland church with links to a multi-billion dollar cryptocurrency labelled a scam. It’s the second church to be investigated by the department involving the OneCoin scheme, whose leaders have been charged with fraud by US authorities. In New Zealand, according… Read More

Must Read

EU Threatens to Go After Money-Laundering Laggards With Lawsuits

Northern Ireland: Seven arrested in £215-million money laundering investigation

Compliance jobs in demand a year after Australia’s Hayne commission

Heads could roll at PwC over Isabel dos Santos links, says chairman

Halkbank Hit With U.S. Demand for Millions in Contempt Fines