Money laundering: Malaysia charges Goldman Sachs, ex-bankers over 1MDB scandal
18th December 2018
Money laundering: Malaysia charges Goldman Sachs, ex-bankers over 1MDB scandal
Malaysia has filed criminal charges against Goldman Sachs and its former executives for their alleged role in the multi-billion dollar corruption and money laundering scandal involving state investment fund 1Malaysia Development Bhd (1MDB). The prosecution, which is seeking billions in fines from the bank and the accused former workers, said… Read More
Eni, Shell knew of ‘sharks’ in Nigeria graft case – judge
18th December 2018
Eni, Shell knew of ‘sharks’ in Nigeria graft case – judge
An Italian judge said on Monday oil majors Eni (ENI.MI) and Royal Dutch Shell (RDSa.L) were fully aware their 2011 purchase of a Nigerian oilfield would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about $1.3 billion (1.03… Read More
North Korea condemns U.S. sanctions, warns denuclearisation at risk
18th December 2018
North Korea condemns U.S. sanctions, warns denuclearisation at risk
North Korea on Sunday condemned the U.S. administration for stepping up sanctions and pressure on the nuclear-armed country, warning of a return to “exchanges of fire” and that disarming Pyongyang could be blocked forever. The North’s stinging response came after the United States said on Monday it had introduced sanctions… Read More
Spanish prosecutors file tax evasion charges against Shakira
17th December 2018
Spanish prosecutors file tax evasion charges against Shakira
AP — Spanish prosecutors have charged pop music star Shakira with tax evasion, alleging she failed to pay more than 14.5 million euros ($16.3 million) between 2012 and 2014. The Colombian singer denied the charges. The charges published Friday allege that Shakira listed the Bahamas as her official residence for… Read More
Canadian regulator to fine Glencore-controlled miner over Congo: WSJ
17th December 2018
Canadian regulator to fine Glencore-controlled miner over Congo: WSJ
A Glencore PLC-controlled mining company and some of its current and former executives have agreed to pay more than $22 million to settle Canadian allegations they hid the risks of doing business with an Israeli man close to Congolese President Joseph Kabila, the Wall Street Journal reported on Sunday. The… Read More
Money laundering: Gibraltar fines WaveCrest over poor AML, compliance officer restricted
17th December 2018
Money laundering: Gibraltar fines WaveCrest over poor AML, compliance officer restricted
E-money firm WaveCrest has been fined $250,000 by Gibraltar’s Financial Services Commission (GFSC) over anti-money laundering (AML) and counter terror finance (CFT) failings. As part of a settlement deal reached over the breaches, WaveCrest will not take on any new business until further notice by the GFSC. “In… Read More
Tax treaties create $4.2 trillion cash flow through Netherlands
14th December 2018
Tax treaties create $4.2 trillion cash flow through Netherlands
A network of favorable tax treaties and an industry devoted to minimizing tax bills has made the Netherlands the conduit for an annual flow of capital five times the size of its own economy, new research showed on Thursday. Statistics Netherlands published the data for the first time — based… Read More
Financial crime: Court orders banks to open account for convicted fraudster
14th December 2018
Financial crime: Court orders banks to open account for convicted fraudster
The Royal Court in Jersey has ruled that a trust for a convicted fraudster should be allowed to open a bank account on the Isle, despite being denied banking services in other jurisdictions. The case put before the Jersey court is linked to another infamous scam, unrelated to the trust… Read More
UK freezes bank account linked to Azerbaijani Laundromat
13th December 2018
UK freezes bank account linked to Azerbaijani Laundromat
British investigators have frozen a bank account linked to a multi-billion dollar Azerbaijani money-laundering scheme that a network of investigative reporters has alleged rinsed dirty money mainly through four, UK-registered shell companies. The National Crime Agency (NCA) said on Wednesday that the Account Freezing Order (AFO), part of a new… Read More
Malaysian ex-PM slapped with new charge over 1MDB scandal
13th December 2018
Malaysian ex-PM slapped with new charge over 1MDB scandal
AP — Former Malaysian Prime Minister Najib Razak was charged Wednesday with tampering with the final audit report on a defunct state investment fund, adding to a long list of corruption allegations against him since his ouster in May elections. Najib was charged along with Arul Kanda Kandasamy, the former… Read More
Popular

London lawyer fined for anti-money laundering failures, PEP issues over wealthy clients

UK: Firm laundered cocaine dealers’ cash through buying property; assets seized

Trump-Deutsche Bank links in sights of U.S. House investigators

Anti-money laundering: Estonia rejects plans for ‘unexplained wealth orders’

Must Read

Financial crime: UK announces consultation on bitcoin, cryptoassets guidance

London lawyer fined for anti-money laundering failures, PEP issues over wealthy clients

Banking: Publication of new guidance on sanctions screening

Ronaldo agrees to pay €19 million fine over tax evasion

Money laundering: Danske faces new investor lawsuit threat