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16th July 2020

Eight UK Overseas Territories See Progress on Public Company Registers

UK officials praised progress by eight British overseas territories to open their company registers to the public by 2023, in a statement Wednesday. The commitments, long-sought by transparency advocates, will permit private citizens to access data on the beneficial owners of companies registered in Anguilla, Bermuda, Cayman Islands, the Falkland Islands,… Read More

16th July 2020

Fraud, money laundering and cybercrime: how Covid-19 has changed the threat to banks

In early May, border force officers at the UK’s bustling Dover port intercepted a shipment described as “medical supplies”, apparently addressed to a London hospital. However, concealed under medical dry ice, police found more than a quarter of a tonne of cocaine, carrying a street value of as much as… Read More

16th July 2020

Hundreds of kilos of gold seized in Limburg money laundering investigation

The authorities seized hundreds of kilograms of gold, worth millions of euros, during an investigation into a Limburg recycling company suspected of money laundering. Various other items were also found at the company, including a container filled with mortar grenades and old ammunition, the Public Prosecution Service (OM) said in… Read More

15th July 2020

Court ties dos Santos to ‘fraudulent’ diamond deal as Portugal further freezes out billionaire

An Angolan court has labeled a deal between the African country’s diamond company and Isabel dos Santos’ husband as “fraudulent” and harmful to average Angolans, according to a newly released decision. The 44-page ruling by the Provincial Court of Luanda, released publicly earlier this month, prevents Banco BIC, partly… Read More

15th July 2020

Botched Iran case adds to woes of SDNY, office upended by Barr

The story line seems familiar. U.S. prosecutors win a significant conviction. Then evidence emerges that suggests possible misconduct by investigators, and the prosecution asks the judge to dismiss the charges. It happened to Michael Flynn, the onetime Trump aide who’s on the verge of walking away from his guilty pleas. Read More

15th July 2020

Crypto firm co-founder to plead guilty in celeb-touted scam

The third co-founder of a cryptocurrency firm plans to plead guilty to duping investors into putting more than $25 million in an initial coin offering that the company promoted with the help of celebrities including boxer Floyd Mayweather and musician DJ Khaled. Sohrab “Sam” Sharma, co-founder of Centra Tech Inc.,… Read More

14th July 2020

Saudi company sues Natwest over ‘$5m scam’

A Saudi engineering business that claims it was tricked into sending $5 million to a Natwest bank account at a branch in south London is suing the British lender in the High Court. Tecnimont Arabia, which is a subsidiary of Italy’s Maire Tecnimont, is bringing legal action against the division… Read More

14th July 2020

10 Kuwaiti influencers suspected of money laundering

Ten Kuwaiti social media influencers are on the radars of the Kuwaiti state security agency after their bank accounts showed massively inflated balance, Kuwaiti media reported. “Kuwait’s Public Prosecution has received ten complaints against five influencers after their bank accounts dramatically inflated and summons warrants will be issued once state… Read More

13th July 2020

Cybercrime: Nigeria Police, Interpol Arrest Three Suspects In Edo

Operatives of the Nigeria Police Cybercrime Unit and the INTERPOL National Central Bureau (NCB), Abuja, have arrested three suspects over advance fee fraud, money laundering and romance scam. The Force Public Relations Officer (FPRO), Mr Frank Mba, disclosed this in a statement on Sunday in Abuja. He said the suspects… Read More

13th July 2020

1MBD scandal: Kuwait royal family member arrested for money laundering

Sheikh Sabah Jaber Al Mubarak Al Sabah, son of the former prime minister, and his business partner Hamad Al Wazzan, were arrested on Wednesday night for money laundering related to the Malaysian fund case, known as the 1MBD scandal, Al Qabas reported. Attorney General Dharar Al Asousi issued a warrant… Read More

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