6th December 2018
Anti-money laundering (AML) expert Denis O’Connor looks at some of the main points raised at an EU Parliament hearing by Danske Bank whistelblower Howard Wilkinson, and recommends AML and compliance professionals take note of the issues discussed. The €200 billion Danske Bank money laundering scandal is considered to be the… Read More
6th December 2018
AP — A shadowy Israeli billionaire who made his fortune in the insular world of diamonds has suddenly found his empire in jeopardy after close associates were busted in a massive smuggling ring and an employee mysteriously plummeted to her death from his high-rise Tel Aviv… Read More
6th December 2018
AP — In an investigation that underscored an Italian crime syndicate’s role as a leading player in international cocaine trafficking, police in four countries arrested at least 84 suspected mobsters Wednesday in a series of carefully coordinated raids. Those detained allegedly work for the Italian ’ndrangheta… Read More
5th December 2018
The United Kingdom’s Gambling Commission has taken action against three online casinos following an investigation into how firms handle money laundering and problem gambling. In its findings, the Commission highlighted a number of compliance failings across the firms. “Nearly £14m in penalty packages will be paid by three companies… Read More
5th December 2018
Britain’s Financial Conduct Authority (FCA) has fined the former boss of a Bangladeshi-headquartered London bank £76,400 for breaching anti-money laundering (AML) standards, it has been revealed, two years after it penalised the bank with a £3 million penalty over financial crime control failures. On Tuesday, the FCA published its Decision… Read More
4th December 2018
Members of the European Parliament have called for an inquiry to examine various aspects of the cum-ex multi-billion euro tax fraud scheme, which has hit Germany and possibly several other European countries. The lawmakers want the probe to establish the ‘real actors’ behind the scam, whether there were breaches of… Read More
4th December 2018
A former owner of Banco Peravia bank in the Dominican Republic has been sentenced to three years in prison for his role in a billion-dollar money laundering scheme involving currency exchange. Gabriel Arturo Jimenez Aray (Jimenez), 50, a Venezuelan citizen residing in the US, and former owner of Banco Peravia… Read More
4th December 2018
AP — President Donald Trump is calling for a “full and complete” sentence for his longtime lawyer Michael Cohen. Trump tweets Monday: “You mean he can do all of the TERRIBLE, unrelated to Trump, things having to do with fraud, big loans, Taxis, etc., and not… Read More
3rd December 2018
A former employee with the U.S. Department of Justice has pleaded guilty for his role in a conspiracy to deceive banks in the United States about the source and purpose of millions of dollars sent from overseas to finance a lobbying campaign on behalf of foreign interests. George Higginbotham, 46,… Read More
3rd December 2018
A three-year settlement deal reached between Britain’s Serious Fraud Office (SFO) and Standard Bank over bribery allegations has come to an end, British officials said. SFO director Lisa Osofsky said she welcomed the “successful conclusion” of the agreement. In November 2015, the two parties entered into a deferred prosecution agreement… Read More