Huawei CFO gets bail; China detains ex-Canadian diplomat
12th December 2018
Huawei CFO gets bail; China detains ex-Canadian diplomat
AP — A Canadian court granted bail on Tuesday to a top Chinese executive arrested at the United States’ request in a case that has set off a diplomatic furor among the three countries and complicated high-stakes U.S.-China trade talks. Hours before the bail hearing in… Read More
A growing list: Trump associates who have pleaded guilty
12th December 2018
A growing list: Trump associates who have pleaded guilty
AP — Five people in President Donald Trump’s orbit have pleaded guilty to federal charges. Prosecutors in Washington and New York are investigating whether the Trump campaign coordinated with the Kremlin in the 2016 election and whether Trump directed an illegal hush-money scheme to silence women… Read More
UK: Sharp drop in size of FCA fines
11th December 2018
UK: Sharp drop in size of FCA fines
There has been a huge fall in the value of fines issued by the Financial Conduct Authority (FCA), with new figures showing a drop of 88% in a year. An analysis of the FCA’s enforcement database shows that fines handed down by the regulator so far this year (data accurate… Read More
Prosecutors eye former Deutsche Bank anti-money laundering official – report
11th December 2018
Prosecutors eye former Deutsche Bank anti-money laundering official – report
Frankfurt prosecutors have launched a probe against a former anti-money laundering official of Deutsche Bank on suspicion of money laundering, German public broadcaster Hessischer Rundfunk reported on Monday. The public prosecutor is accusing the former official of failing to report suspicious transactions, despite sufficient indications of money laundering, Hessischer Rundfunk… Read More
UK court rules that Indian tycoon should face extradition
10th December 2018
UK court rules that Indian tycoon should face extradition
AP — A British court handed charismatic Indian tycoon Vijay Mallya a substantial setback Monday by ruling he should be extradited to India to face financial fraud allegations. Judge Emma Arbuthnot Monday endorsed the Indian government’s request for Mallya’s extradition and said she would send the… Read More
Police arrest over 200 fake cash ‘customers’ after counterfeit money agent jailed
10th December 2018
Police arrest over 200 fake cash ‘customers’ after counterfeit money agent jailed
Law enforcement agencies across Europe have taken action against suspects who bought counterfeit euro banknotes on illegal platforms on the Darknet. In total, almost 300 house searches were conducted in 13 different countries and 235 suspects were detained. Law enforcement also seized around 1 500 counterfeit euro banknotes. Read More
FATF publishes assessment of UK anti-money laundering, counter terror financing systems
10th December 2018
FATF publishes assessment of UK anti-money laundering, counter terror financing systems
A global anti-money laundering (AML) watchdog has found that the United Kingdom has a ‘robust understanding’ of laundering and terrorism financing threats, but warned it faces significant risks of dirty cash inflows from offshore jurisdictions and foreign criminals. The Financial Action Task Force (FATF) said Britain’s ‘strong’ public-private partnerships are… Read More
Arrest of Huawei “heiress” throws rare spotlight on family
7th December 2018
Arrest of Huawei “heiress” throws rare spotlight on family
Like many top Chinese executives, Meng Wanzhou is a mysterious figure even in her home country, but the 46-year-old chief financial officer of Huawei Technologies had been widely tipped to one day take the helm of the tech giant her father founded. That was until her shock arrest in Canada… Read More
Lebanese businessman pleads guilty to violating US sanctions
7th December 2018
Lebanese businessman pleads guilty to violating US sanctions
AP — A Lebanese businessman accused of providing millions of dollars to the Hezbollah militant group pleaded guilty Thursday and admitted his role in a money laundering conspiracy in an effort to evade U.S. sanctions, the Justice Department said. Kassim Tajideen, 63, of Beirut, was accused… Read More
Collapse of Tesco re-trial casts cloud over British fraud agency
7th December 2018
Collapse of Tesco re-trial casts cloud over British fraud agency
The UK Serious Fraud Office (SFO) defended itself on Thursday against criticisms of “serious failings” after the collapse of a high-profile re-trial of former Tesco (TSCO.L) executives, insisting the prosecution had been in the public interest. New SFO director Lisa Osofsky has pledged to take on the “big guys” since… Read More
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