5th October 2020
Robert T. Brockman was just putting the finishing touches on a new private equity fund when worrisome news arrived. Law enforcement agents had raided the home of a tax lawyer in Texas who had worked for him. A Houston businessman who had made his fortune selling software to auto dealers,… Read More
5th October 2020
Portuguese auditing companies that broke anti-money laundering laws while helping Angolan billionaire Isabel dos Santos grow her business empire should face criminal prosecution, the country’s regulator has said. The Securities Market Commission, CMVM in Portuguese, investigated nine auditing companies that worked with dos Santos following the publication of the Luanda… Read More
5th October 2020
When the BBC called last month to warn that he was the victim of a £50,000 fraud, Mark Telling thought it was a prank. “I was at work and, to be honest, I thought it was a bit of a wind-up,” said Telling, 47. The truth was less amusing. Criminals… Read More
5th October 2020
Nearly a year after the Vatican appointed one of Italy’s top anti-mafia prosecutors to tackle alleged financial wrongdoing in the Holy See, the Council of Europe’s anti-money laundering body, Moneyval, arrived in the Vatican to make its own assessment. “Today the assessment team of the Committee of Experts on… Read More
5th October 2020
For years, the deputy head of Kyrgyzstan’s customs service enabled customs fraud from the shadows. In 2017, he was unceremoniously fired. But Raimbek Matraimov appears to have found a way to stay in the customs game with the help of some old friends, a family of Uighur smugglers… Read More
5th October 2020
Classified documents from Britain’s financial crime agency have revealed how it allowed JP Morgan to pay $875 million of suspicious funds to Dan Etete, a former Nigerian oil minister widely known as a convicted money launderer. The documents, rarely seen Suspicious Activity Reports (SARs), were filed by the banking… Read More
2nd October 2020
Founders of the pioneering crypto-derivatives exchange BitMEX were charged with skirting U.S. laws preventing money laundering and hit with civil sanctions as well, abruptly sending the price of Bitcoin down. Arthur Hayes, Benjamin Delo and Samuel Reed were indicted in New York, where federal prosecutors claim the digital-asset exchange… Read More
2nd October 2020
Prosecutors in Switzerland and abroad are investigating Swiss banking links to a range of alleged money-laundering and tax-evasion offences from Europe to South America, Asia, the Middle East and Africa. Recently uncovered suspicious transaction reports, made to the US Financial Crimes Enforcement Network (FinCEN), show Swiss banks moving billions of… Read More
2nd October 2020
Singapore’s financial regulator ordered Wirecard AG’s local entities to cease their payment activities and return all customer funds by Oct. 14. The local unit of the embattled German payments company informed the Monetary Authority of Singapore that it’s unable to continue providing payment processing services to “a significant… Read More
2nd October 2020
A New South Wales inquiry into Crown Resorts and its casino licence has heard that Crown has suspended dealings with the 100-odd junket operators who bring high rollers from Asia and is conducting reviews of possible criminal links. Director Guy Jalland agreed that the pause had been mainly prompted… Read More