27th June 2016
Acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has reiterated his commitment to prosecute any corrupt individual or institutions despite being critized heavily for selective anti-graft campaign. Mr Magu expressed worries over the involvement of banks in money laundering sounding out ‘private banking’ as the vehicle for… Read More
27th June 2016
Russian security services have raided dozens of locations across the country linked to the Church of Scientology as part of a long running battle between authorities and the US-based organisation. The Federal Security Service (FSB) said officers ‘conducted simultaneous searches’ at 14 addresses in Moscow and St Petersburg… Read More
16th June 2016
The Australian Taxation Office (ATO) has welcomed the conviction of two men for tax offences following successful investigations under the Serious Financial Crime Taskforce (SFTC). The ATO said that a 61-year-old former financial advisor was last week sentenced for five years and nine months for tax fraud offences totaling over… Read More
16th June 2016
Confirming its interim order, markets regulator SEBI has said ban will continue on seven entities in a case related to tax evasion and money laundering through misuse of stock exchange mechanism. The seven entities — East India Securities, Value & Worth, Shree Sudharshan Castings, Madsan Agencies, Motorex Finance, Midnight Agencies… Read More
16th June 2016
The U.S. attorney’s office in Manhattan has opened an investigation of the cyber heist of $81 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York, a law enforcement source said. Preet Bharara, the U.S. attorney for the Southern District of New York, is investigating the February… Read More
16th June 2016
Canover Norbert Watson and Robert Neil Aspinall have each been identified by the Cayman Islands Monetary Authority as “not a fit and proper person” to hold certain positions in the Cayman Islands financial services industry. According to CIMA decision notices dated June 7, Watson has been determined to have contravened… Read More
15th June 2016
The U.S. Securities and Exchange Commission filed a civil lawsuit in Manhattan federal court accusing Christopher Plaford of fraud over his alleged trading and the alleged mismarking. Read More
15th June 2016
The ED has filed a second charge sheet in the Rs 3,600 crore VVIP chopper deal naming British national and alleged middleman Christian Michel James, his two Indian associates and an Indian company for the first time in connection with its money laundering probe. Read More
15th June 2016
Gambling operator Petfre (Gibraltar) Ltd., trading as Betfred, has agreed to pay the amount of £800,000 to compensate for poor anti-money laundering and responsible gambling policies and to contribute to socially responsible causes as part of a settlement with the UK Gambling Commission, after the gaming company’s license had been reviewed by the gambling regulator. Read More
14th June 2016
Amount involved in Sebi’s recovery proceedings stands at Rs 55,015 crore including Rs 52,959 crore in the last financial year. Read More