Featured Criminal Investigations

Estonia expands Danske laundering probe to cover up to $2 billion of transfers

Estonian authorities have expanded their investigation into alleged money laundering through Danske Bank’s (DANSKE.CO) local branch to cover transfers of up to $2 billion, the Estonian prosecutor said on Thursday. Widening of the investigation in Estonia adds to pressure on Danske Bank, as the lender and its investors await… Read More

Authorities to look into reports mafia used Malta banks in EU funds scam

The authorities will be looking into reports that banks in Malta were used by the Italian mafia in a massive operation in Sicily that defrauded the European Union of millions of euros in funds for farmers, a spokesman for the Foreign Ministry said. The public prosecutor in Messina said on… Read More

PayPal offers up financial data to combat human trafficking

PayPal Holdings Inc will share its financial data with a leading advocacy group in the United States to try and stop human traffickers from moving funds on the digital money transfer platform. Human traffickers often force people into modern slavery which generates around $150 billion a year in illegal profits,… Read More
17th January 2020
In an apparent effort to crack down on corruption, Guatemalan authorities have started to arrested officials who lost their immunity from prosecution this week when a new administration took office. Police, armed with arrest warrants for eight high-level officials, executed 14 search warrants between Wednesday and Thursday. A former… Read More
16th January 2020
Eight years ago, Goldman Sachs Group Inc. bankers sold bonds on behalf of a little-known Malaysian investment fund. On Wednesday, the fallout from that deal wiped out about 13% of the bank’s 2019 profits and darkened otherwise strong results. Goldman socked away an extra $1.1 billion late last year… Read More
16th January 2020
A businessman “connected to Asian organized crime” was allowed by a British Columbia government employee to buy part of a B.C. Lottery Corp. casino, according to a confidential RCMP report obtained by Global News. And the government employee was later hired in a B.C. casino. The explosive accusation is… Read More
16th January 2020
The Anti-Corruption Commission (ACC) has confirmed investigating another law firm, Ellis Shilengundwa Incorporated, in connection with funds deposited into their bank account by the National Fishing Corporation of Namibia (Fishcor). Ellis & Partners Incorporated was established in 1997 by renowned lawyer Phillip Ellis. Ellis, however, left the law firm in… Read More
16th January 2020
Ghanaian prosecutors charged the chief executive officers of two defunct lenders for alleged crimes that contributed to a banking crisis that cost the West African nation 12.5-billion cedis ($2.2 billion) in bailouts. Michael Nyinaku, the former CEO of Beige Bank Ltd., appeared in the Accra Circuit Court on Tuesday on… Read More
16th January 2020
Robert Swaak is largely unknown, even in the relatively close-knit banking community of the Netherlands, but after a career at the Dutch branch of PwC, he is assuming one of the most influential roles in banking in the country, if not in Europe.  As chief executive of ABN Amro… Read More
16th January 2020
Officials in the United Kingdom and bankers throughout Scandinavia turned a blind eye to the influx of illicit Russian funds linked to Europe’s biggest money laundering scandals, according to a British financier and anti-corruption activist. In a recent interview for KYC360’s AML Talk Show, Bill Browder spoke to host… Read More
15th January 2020
The new year promises to be an interesting one in white-collar crime. Goldman Sachs is negotiating with the Justice Department to pay a penalty of about $2 billion for its role in the 1Malaysia Development Berhad scandal, known as 1MDB. Accounting fraud became a particular focus of the Justice… Read More
15th January 2020
The anti-corruption watchdog is investigating embattled former Prime Minister Joseph Muscat over gifts he allegedly received from businessman Yorgen Fenech, Times of Malta has learnt. The Permanent Commission Against Corruption, which is a constitutional body, began investigating the case upon receipt of a complaint from independent election candidate Arnold Cassola. Read More
13th January 2020
At Danske Bank A/S, the cost of adapting to a world intensely focused on financial crime just keeps growing. In an interview in Stockholm, the chief executive of Danske in Sweden, Johanna Norberg, said “the peak” level of investment to meet anti-money laundering requirements has “not yet been reached.”… Read More