15th July 2020
Jeffrey Epstein, the sex criminal and financier, didn’t act alone. Now we know in vivid detail who some of his financial enablers were: executives and bankers at Deutsche Bank. Last week the New York Department of Financial Services laid bare at least some of the financial underpinnings of… Read More
10th July 2020
Amazon.com Inc. agreed to settle allegations that it violated multiple U.S. sanctions regulations, the U.S. Treasury Department said Wednesday. The Seattle-based e-commerce giant allegedly provided goods and services to individuals or entities subject to U.S. sanctions, primarily due to deficiencies in the company’s automatic screening processes, according to… Read More
9th July 2020
When Deutsche Bank AG sought out Jeffrey Epstein as a client, he was a convicted Florida sex offender with a publicized taste for young eastern European women. The bank helped him send millions of dollars to his alleged co-conspirators. It handled transfers to women with Russian bank accounts. And… Read More
3rd July 2020
The B.C. Lottery Corporation has finally given up a decade-long fight to keep a secret. In 2010, BCLC was hit with a $700,000 fine by FINTRAC, the country’s money laundering watchdog, for undisclosed violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It was the largest penalty… Read More
3rd July 2020
The City regulator was warned last year that Wirecard was allegedly linked to a scheme that used fake online stores to disguise the processing of high-risk payments. The Financial Conduct Authority was given details of an operation whereby allegedly bogus ecommerce sites were used as a front for channelling online… Read More
2nd July 2020
A Malta-based bank, Satabank, has had its licence withdrawn by the European Central Bank, Finance Minister Edward Scicluna and the Malta Financial Services Authority said on Wednesday. The decision was taken on the recommendation of the authority. The Bulgarian-owned bank, established in 2014, had its 12,000 accounts frozen by the… Read More
2nd July 2020
Goldman Sachs Group Inc. is in the final stages of resolving its biggest legal threat in a decade after tussling with the government on one critical issue: a potential guilty plea for the first time in Goldman’s history. To avert such a penalty over its work for a Malaysian sovereign… Read More
1st July 2020
Senior Wirecard employees were linked to an opaque network of British companies associated with alleged money laundering. Staff from the scandal-hit German payment processor were shareholders in a company creation operation in the northeast of England that was shut down after a government investigation. The revelations will increase scrutiny of… Read More
29th June 2020
Sweden’s financial supervisory authority fined Skandinaviska Enskilda Banken AB 1 billion Swedish kronor ($107.3 million) following a delayed review of the bank’s efforts to prevent money laundering at Baltic branches. The regulator, known as the Finansinspektionen, was investigating the bank’s anti-money-laundering governance and controls in Estonia, Latvia and Lithuania. Read More
26th June 2020
Novartis AG and a former subsidiary of the Swiss drugmaker agreed to pay a combined $347 million to resolve allegations that the companies ran schemes to bribe public hospitals and clinics in Greece, Vietnam and South Korea, U.S. authorities said Thursday. The settlements with Novartis and its former… Read More