30th April 2020
Sanctions are intended to exert economic pressure on targeted groups of persons and countries to either prevent conducting business as usual or, at the very least, make it more expensive to do so. It is hoped that such impediments will cause sanctioned parties to reconsider their course of action and… Read More
30th April 2020
Several Swiss companies and banks have found themselves in the line of fire as the United States ramps up pressure on the Venezuelan government. Washington has sanctioned numerous top officials for money laundering and drug trafficking in the oil-rich but economically flailing Latin American nation. The Venezuelan economy is in… Read More
29th April 2020
Roger Jenkins, a former feted Barclays (BARC.L) rainmaker who was acquitted of fraud charges by a London jury two months ago, has now also been cleared of wrongdoing in a separate regulatory investigation, his lawyer said on Tuesday. Brad Kaufman, co-president of law firm Greenberg Traurig, who has been… Read More
29th April 2020
In February, Abu Dhabi Commercial Bank PJSC Jersey Branch admitted failing to comply with counter-terror and anti-money-laundering regulations relating to two customers who withdrew huge sums of cash at a branch in the United Arab Emirates. It was fined £475,000 and ordered to pay costs of £25,000, after the Royal… Read More
29th April 2020
By Laura Mallene, OCCRP, 28 April 2020 OCCRP — Malaysian authorities have on Monday asked the public as well as Interpol for help in locating the ex-CEO of Asia Media, Wong Shee Kai, commonly known as Ricky Wong, who is suspected of money laundering and terrorism financing. The Securities… Read More
29th April 2020
By Sanne Wass, S&P Global Market Intelligence, 27 April 2020 Read more at S&P Global Market Intelligence Photo (cropped and edited): Finn Årup Nielsen [CC BY-SA 3.0] RiskScreen: Eliminating Financial Crime with Smart Technology… Read More
27th April 2020
The owner of Matchbook, a betting exchange operated by the Cork-based technology firm Xanadu Consultancy, has been fined £740,000 (€845,000) over “serious failings” with its approach to measures including stopping money laundering. Triplebet, a Guernsey-based firm which owns Matchbook’s UK licence, received the fine following an investigation by the Gambling… Read More
27th April 2020
UBS Group AG appeal of a record 4.5 billion-euro ($4.9 billion) French fine for helping clients stash undeclared funds in offshore accounts was postponed over concerns related to coronavirus pandemic, according to people familiar with the case. Judges at the Paris Court of Appeals postponed the case, originally… Read More
24th April 2020
Swedbank (SWEDa.ST) on Thursday reported its first quarterly loss since 2009, hit by coronavirus-related credit losses and a record fine for poor anti-money laundering controls. The Swedish bank faces the prospect of a large bill to address its money laundering issues, while grappling with the economic downturn caused by… Read More
23rd April 2020
The UN Security Council is calling for digitisation of shipping documents, stricter know-your-customer requirements and restrictions on individual vessels, after uncovering North Korea’s extensive ability to evade sanctions on petrol, coal, sand and other commodities. A UN report finalised in March and seen by GTR says satellite imagery has revealed… Read More