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Panama Papers-style leak — and a Miami arrest — lift veil on how Iran ducks sanctions

Take the arrest of an Iranian-born Turkish citizen during a jaunt to Disney World. Factor in the irrepressible Rudy Giuliani, who briefly served as the arrested man’s lawyer. Add a dash of Turkey’s authoritarian leader, Recep Erdogan, a favorite of President Donald Trump. Mix in a massive leak of more… Read More

Pakistani tycoon agrees to hand over £190m to UK authorities

More than £190m of assets, including a £50m mansion overlooking Hyde Park in London, have been seized from a Pakistani property tycoon after a settlement in a UK police “dirty money” investigation. On Tuesday, the National Crime Agency said Malik Riaz Hussain had agreed to the multimillion-pound settlement that did… Read More

Shipbuilding Executive Found Not Guilty in Mozambique Debt Fraud Trial

A federal jury in Brooklyn found a Lebanese shipbuilding executive not guilty of fraud and money-laundering charges related to $2 billion of debt deals in Mozambique, a spokesman for the U.S. Attorney’s Office said. Jean Boustani, a salesman for shipbuilder Privinvest Group, was found not guilty on charges of wire… Read More

2nd December 2019

For Love and Money in Mozambique: How a Credit Suisse Banker Helped Fuel an Alleged $2 Billion Debt Fraud

Andrew Pearse said he negotiated his first bribe while sipping vodka at a hotel in Maputo, the capital of Mozambique, in February 2013. His employer, Credit Suisse Group AG, was financing a $370 million coastal security contract between Mozambique and Privinvest Group, a shipbuilder owned by Lebanese billionaire Iskandar… Read More

2nd December 2019

Anatomy of money laundering in B.C. real estate: 12 cases, $1.7 billion, 20 countries and 30 banks

It started with a huge hash bust. Following up on a tip, the RCMP set up a stakeout and pounced when a freight truck left a warehouse on Mitchell Island in Richmond. The haul: six tonnes of hashish (a drug made from the resin of cannabis), wrapped in cellophane and… Read More

29th November 2019

After 3 years in exile, scandalous millionaire to return to Ukraine, face charges

The wanted runaway politician, businessman and equestrian Oleksandr Onyshchenko has said he is about to return to Kyiv on Dec. 13 to face down accusations of fraud and money laundering. “I believe it is time,” he told the Kyiv Post on Nov. 21. As proof, millionaire Onyshchenko sent the Kyiv Post his… Read More

28th November 2019

Miami money manager pleads guilty in $1.2 billion Venezuelan laundering scheme

A Miami investment manager pleaded guilty Tuesday to participating in a $1.2 billion money-laundering ring run by wealthy Venezuelan businessmen with political connections to the socialist government of President Nicolás Maduro. Gustavo Hernandez Frieri, 45, was convicted of a single money-laundering conspiracy count and now faces less than 10… Read More

28th November 2019

Nine arrested in Yorkshire over Dubai money-smuggling plot

Nine men have been arrested in Yorkshire as part of a money-laundering investigation into a gang who was smuggling money to Dubai in suitcases. Raids were carried out by The National Crime Agency (NCA) in Cleckheaton, Bradford, Dewsbury and Bridlington. The organised crime gang is thought to have smuggled millions… Read More

27th November 2019

How Investigators Busted a Huge Online Child-Porn Site by Following the Bitcoin

The call came in while two criminal investigators for the Internal Revenue Service sat at a Bangkok airport gate in July 2017, waiting for a flight. A confidential source they knew from past investigations was offering a tip that a new website was selling child pornography in exchange for bitcoin. Read More

27th November 2019

KYC360 Exclusive: Leveling the Uneven Playing Field from Which We Fight

At times, we AML professionals in the private and public sectors that play by the rules have difficulty realizing that the “bad guys” at the highest levels of the criminal world have no rules. They have more resources and capabilities than we can conceptualize. Unless you’ve lived in that world,… Read More

26th November 2019

How to hide $53m: Mogul used mother and son’s finance firm

An Auckland finance firm and its mother and son owners can now be revealed as the company and pair who failed to report $53.4 million of suspicious transactions from a Chinese-Canadian mogul accused of running a $200m pyramid scheme. Jiaxin Finance Limited, Fuqin Che and her son Qiang Fu, also… Read More

15th November 2019

Greece’s New Penal Law is Likely to Return Riches to Money Launderers: FT

Legislation approved by Greece’s parliament late Wednesday night appears to put the nation at odds with international anti-money laundering standards, the Financial Times reported Thursday. The measure, which was backed by the government of Prime Minister Kyriakos Mitsotakis, amends Greece’s penal code to permit individuals suspected of money… Read More

15th November 2019

Activists Worry Britain’s Financial Watchdog Is Losing Its Zeal

About seven years ago, the U.K. agency set up to prosecute errant executives and publicly traded companies started taking on some meaty cases. The Serious Fraud Office investigated everything from derivative traders to top brass at blue-chip darlings Barclays Plc and engine maker Rolls-Royce Holdings Plc. Now some academics,… Read More

Must Read

EU agrees steps toward tighter money-laundering supervision

Formations House leak shows need for reforms on creating companies, says anti-corruption chief

ING close to settling money-laundering probe in Italy: sources

Credit Suisse Blocks Prosecutor Using Critical Finma Report

€131m worth of suspicious transactions at Satabank