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Casino company Caesars Entertainment fined record £13m for compliance violations

A casino company has been fined a record £13m by the Gambling Commission for failures relating to VIP schemes that the regulator is considering banning. Three senior managers at Caesars Entertainment, which has 11 casinos in UK cities and seaside towns, will also lose their licence to run a… Read More

U.K. Regulator Fines KPMG, Partner for Audit Failures

A U.K. regulator on Thursday reprimanded and fined KPMG and one of its former partners for a lack of “professional skepticism” and a failure to obtain sufficient verification to do an accurate audit. The actions by the Financial Reporting Council, which oversees accounting and audit in Britain, come as concerns… Read More

No Body to Kick, No Wings to Clip: The Airbus Settlement and Corporate Criminal Liability

Amid the turmoil of the coronavirus epidemic, Airbus’s multi-jurisdictional settlement of bribery charges for €3.6 billion in January may, in the scheme of things, prove to be a small dent in the finances of a company which now has to contend with a catastrophic fall in demand for air… Read More

2nd April 2020

Qatar fines Horizon Crescent Wealth QR30mn for violations

The QFC Regulatory Authority (QFCRA) yesterday announced that it had taken action against Horizon Crescent Wealth LLC (HCW) and imposed a fine of QR30,000,000 on it for serious legal and regulatory breaches. The action taken by the QFCRA followed an investigation of HCW identifying significant failings by the firm in… Read More

2nd April 2020

Morocco’s ‘$65-million’ real-estate swindle

“Give us our money!”, demands a group of home buyers, standing on land that should by now be finished condos — one of many fictitious projects that together comprise what is described as Morocco’s biggest-ever property scam. Adverts on state television had promised dream homes at three for the price… Read More

2nd April 2020

Japan businessman paid $8.2 million by Tokyo Olympics bid lobbied figure at center of French corruption probe

A businessman who received millions of dollars for his work on Tokyo’s successful campaign to host the 2020 Olympics, which was postponed last week due to the coronavirus, said he played a key role in securing the support of a former Olympics powerbroker suspected by French prosecutors of taking bribes… Read More

2nd April 2020

Hackers ‘Without Conscience’ Target Health-Care Providers

When hackers broke into computers at Hammersmith Medicines Research, a London-based company that carries out clinical trials for new medicines, it was a nightmare scenario for managing director Malcolm Boyce. The coronavirus crisis was just beginning to take hold in the U.K., and the company was in talks with… Read More

2nd April 2020

Standard Chartered Fined for Violating Russia Sanctions

U.K. authorities have fined Standard Chartered PLC for violating sanctions that the European Union imposed on Russia following its annexation of the Crimea region of Ukraine in 2014. The British bank must pay £20.47 million ($25.41 million) for violating the EU’s sanctions against Russia, the U.K. Treasury’s Office of… Read More

1st April 2020

Luxembourg regulator suspends Rothschild ex-CEO for ten years

Luxembourg’s finance watchdog suspended the former CEO of private bank Edmond de Rothschild (Europe), Marc Ambroisien, for a decade, no longer allowing him to work in finance in the country over that period. The Comite de Surveillance du Secteur Financier (CSSF) accused Ambroisien of having failed to ensure strong internal governance… Read More

1st April 2020

Turkey’s State-Run Halkbank Pleads Not Guilty to Massive Sanctions Bust

Not even a pandemic’s relentless spread could stop the prosecution of Turkey’s state-run Halkbank, which pleaded not guilty Tuesday to a record-breaking money-laundering scheme. “First of all, welcome everybody,” said U.S. District Judge Richard Berman, greeting listeners across the globe who called in this morning for the extraordinary hearing. “We… Read More

1st April 2020

Australian security business ‘acted as a front’ for $100 million money laundering syndicate

A sixth person has been charged in connection with a south-west Sydney security business that allegedly acted as a front to launder $100 million from organised crime groups in Australia and abroad. Assure Protection Services in Guildford was raided by the NSW Criminal Groups Squad in July last year, after… Read More

1st April 2020

Hong Kong police smash gambling racket that used arcade machines for betting games

Hong Kong police have broken up what they believe is a sophisticated gambling syndicate behind a network of underground casinos that used arcade machines for betting games and served those from the criminal underworld, force insiders said on Tuesday. Detectives believed the racket, run by a gang of mainland men… Read More

31st March 2020

Russian charged in Pittsburgh with laundering money for international cybercriminals

A Russian national described by the FBI as a “significant cybercriminal” has been charged in Pittsburgh with laundering money for other cybercriminals, joining five Latvians indicted here in January on similar charges. An FBI complaint was unsealed Monday against Maksim Boiko, 29, known as “gangass” in the cyberworld, after agents… Read More

Must Read

Casino company Caesars Entertainment fined record £13m for compliance violations

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U.K. Regulator Fines KPMG, Partner for Audit Failures

FATF Labels US as ‘Largely Compliant’, Points Out ‘Deficiencies’

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