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Cryptocurrency Firms Bitfinex, Tether Settle New York Attorney General’s Probe

The New York attorney general’s office settled Tuesday a nearly two-year investigation into the finances and corporate practices of the companies that operate the Bitfinex cryptocurrency exchange and the stablecoin tether. Hong Kong-based iFinex Inc., which operates the Bitfinex exchange, and Tether Ltd. agreed to pay $18.5 million to… Read More

British financial firms using letterbox companies to sneak into EU, says Michel Barnier

Michel Barnier has accused British financial services firms of using letterbox companies to gain access to the EU’s Single Market. The EU’s chief Brexit negotiator said that some firms were looking to circumvent post-Brexit rules by setting up shell companies to satisfy EU headquartering requirements. “As far as financial services… Read More

Bank worker pleads guilty to $3.75m theft a decade after CBA failed to report crime

A former Commonwealth Bank loan officer has pleaded guilty to stealing $3.75 million, which he blew on “a lot of” cocaine and a lavish lifestyle more than a decade after the bank failed to report his crime spree to police. George Vrettakos, who was caught falsifying loan documentation by the… Read More

5th February 2021

Credit Suisse Was Alerted to Private Banker’s Misconduct Years Before Criminal Charges

Credit Suisse Group AG overlooked red flags for years while a rogue private banker stole from billionaire clients, according to a report by a law firm for Switzerland’s financial regulator. The private banker, Patrice Lescaudron, was sentenced to five years in prison in 2018 for fraud and forgery. He… Read More

4th February 2021

Tencent fires 100 employees, blacklists 37 firms in anti-graft campaign

Tencent Holdings Ltd on Wednesday named 37 companies it had blacklisted from future contracts and said it has fired more than 100 staff over embezzlement and bribery incidents. Tencent, China’s biggest social media and video games company, said in a social media post that it had reported 40 employees to… Read More

4th February 2021

Bannon, Pardoned by Trump, Now Faces Manhattan D.A. Investigation

Stephen K. Bannon, who received a last-minute pardon from former President Donald J. Trump after being indicted on federal charges of defrauding donors to a border wall, may yet face state charges in connection with the same scheme. The Manhattan district attorney’s office has begun investigating Mr. Read More

4th February 2021

Two top executives sentenced to 15 years in jail for money laundering in Abu Dhabi

The Abu Dhabi Criminal Court has sentenced a former board chairman at an Abu Dhabi Government-owned company, and its CEO, to 15 years in prison for money laundering. The Court, which has jurisdiction over money laundering and tax evasion, also ordered both defendants to pay a fine and return about… Read More

2nd February 2021

Hong Kong court finds former JPMorgan managing director not guilty of bribery

A former managing director of JPMorgan has been found not guilty of bribery after hiring the son of Kerry Logistics Network’s then chairman when the company was planning to go public 11 years ago. Deputy District Judge Emily Cheung Sau-kwan on Monday concluded that Catherine Leung… Read More

2nd February 2021

U.K. bank chief Bailey ‘should be censured’ for failings, report finds

An apology by Andrew Bailey for the Financial Conduct Authority’s handling of the £237 million London Capital & Finance scandal was “not adequate” and the Bank of England and Treasury should consider censuring him, according to the author of an independent report into the affair. Dame Elizabeth Gloster, the former… Read More

26th January 2021

MPs handed ‘dossier’ on HSBC links

A parliamentary inquiry into HSBC’s relationship with Beijing will look at allegations that a Chinese executive was protected from accusations of sexual assault by his role as a senior Communist Party official. The allegations are part of a dossier compiled for the foreign affairs select committee before a hearing this… Read More

21st January 2021

Leaked Affidavit Implicates Namibian President in Fishrot Scandal

By Will Neal, OCCRP, 19 January 2021 OCCRP – Namibian President Hage Geingob allegedly played a role in a bribery scandal that has shaken the southern African nation, according to a leaked legal document. Geingob’s name appears in an affidavit provided in April 2020 to the… Read More

21st January 2021

Email Furor Leaves Deutsche Bank’s Reputation at Risk Once More

Shortly after a controversial set of emails between a Deutsche Bank AG supervisory board member and Wirecard AG’s then-Chief Executive Officer Markus Braun became public last week, Paul Achleitner picked up the phone for a tense conversation. The Deutsche Bank chairman spoke… Read More

18th January 2021

Netherlands: Organised crime is infiltrating care sector, exploiting vulnerable clients

Several small care organisations in Twente forced their vulnerable clients – often troubled youngsters or people with psychological or addiction issues – to work on marijuana plantations and even trafficked them for sex, according to a new report published on behalf of the healthcare ministry. The… Read More

Must Read

U.S. blocked Myanmar junta attempt to empty $1 billion New York Fed account

Jersey trust company fined $835,000 for opening ‘gateway to possible money laundering’ in Angola

UBS May Use Money-Launderer Case to Appeal $5.4 Billion Penalty

U.S., U.K. Weigh More Russia Sanctions, Possibly Targeting Debt

U.S. Weighs Sanctions Against Lebanon Central Bank Chief