27th July 2016
Big data and machine learning are being considered as weapons against money laundering as the Monetary Authority of Singapore works to restore Singapore’s reputation as a clean financial centre. MAS managing director Ravi Menon told a briefing on Monday: “We are using data analytics to enhance market surveillance, to help… Read More
27th July 2016
The spiritual leader of Bahrain’s Shi’ite Muslim majority went on trial on Wednesday on charges of collecting donations illegally and money laundering in a case that has increased tensions in the Western-allied Gulf Arab state. Read More
27th July 2016
The most recent development in the Caribbean financial sector is that of the threat of correspondent bankers continuing to provide their services to the region. Prominent local financial institutions such as Jamaica National Building Society and Victoria Mutual Building Society have recently been impacted by this development. It has been… Read More
26th July 2016
The Bangladesh central bank said on Tuesday its Philippine counterpart had nearly completed an investigation into how $81 million of its money wound up in a Manila bank, and that it hoped for the swift return of the stolen funds. Governor Fazle Kabir told reporters he hoped the Philippine authorities… Read More
26th July 2016
Latvijas Pasta Banka is the latest commercial bank in Latvia to be penalized for failing to comply with anti-money laundering and counter-terrorism financing legislation, the national banking regulator informed Monday. The regulator, the Financial and Capital Market Commission, slapped a fine of 305,000 euros (335,271 U.S. dollars) on the bank,… Read More
26th July 2016
A UK parliamentary report has called for the Treasury to consider splitting up the Financial Conduct Authority, a move which would deprive the key banking regulator of its enforcement capabilities and would significantly alter the regulatory landscape. Read More
26th July 2016
Prosecutors have seized various properties belonging to former President Alejandro Toledo and his family as his trial for money laundering begins. Last week authorities seized Toledo’s office in a luxury office building as well as a $4 million mansion in Lima’s Surco district. Today they took custody of his vacation… Read More
26th July 2016
According to Gholam-Hossein Mohseni-Ejei, Iran’s judiciary spokesman, a total of four people have been arrested who are linked to a corruption case at Bank Mellat. The Intelligence Organization of the Islamic Revolutionary Guard Corps (IRGC) announced July 19 that Ali Rastegar Sorkhei, the former managing director of Bank Mellat,… Read More
26th July 2016
A director in the Implementation Coordination Unit (ICU) was charged with two counts of corruption and using his power for gratification at the Sessions Court here today. Mohd Nor Rejab, 54, claimed trial to both charges under Section 23 of the Malaysian Anti-Corruption Commission Act 2009 and Section 165 of… Read More
26th July 2016
Guo's conviction is the latest in a sweeping anti-corruption campaign in China spearheaded by President Xi Jinping Read More