David Chenkin of US-based lawfirm Zeichner Ellman & Krause speaks to Tom Devlin about his work. Read More
31st October 2016
The Economic and Financial Crimes Commission Monday re-arraigned the former Abia State Governor, Orji Uzor Kalu, before the Lagos Division of the Federal High Court 34 counts of money laundering. Also arraigned before the court are Udeh Udeogu, a former Director of Finance in the state, and Slok Nigeria Limited. Read More
31st October 2016
An international diamond dealer who ran a £30 million money laundering business has been jailed for 11 years. Danny Koort, 52, stored bags of “dirty money” at the Fitzrovia offices of his Kosher Diamonds business, converting it into euros before returning the cash to his criminal clients. As he flew between… Read More
31st October 2016
El Salvador’s former President Elias Antonio Saca has been arrested over accusations of embezzling millions of dollars of public funds. Prosecutors say six former officials in his government were also held. Mr Saca, 50, has not publicly commented on the accusations. He held office from 2004 to 2009. He… Read More
31st October 2016
The prosecution will call nine witnesses in its case against former BSI banker Yeo Jiawei – the first person to be tried for the key role he allegedly played in a massive money laundering operation linked to scandal-hit 1Malaysia Development Bhd (1MDB) fund. Deputy Public Prosecutor Tan Kiat Pheng, in his opening… Read More
28th October 2016
The revised licensing conditions and codes of practice (LCCP) will require gambling operators to “conduct an [appropriate] assessment of the risks of their business being used for money laundering and terrorist financing” and then implement “appropriate policies, procedures and controls to prevent money laundering and terrorist financing”. The new licensing provisions… Read More
28th October 2016
The Australian government is looking to update its anti-money laundering laws to include bitcoin and other digital currency exchanges. According to a consultation document published this week by the Australian Attorney-General’s Department, the government wants to begin drafting legislative proposals by the middle of next year. The goal is to begin… Read More
27th October 2016
The U.S. Department of Justice has charged 61 people and entities with conspiracy and fraud over a scam that involved phone calls from people pretending to be from the IRS or other government agencies. The conspiracy defrauded at least 15,000 people of more than $300 million, the U.S. government says. Read More
27th October 2016
As far as congressional acts go, Randy Weber’s anti-corruption resolution supporting the impoverished former Soviet state of Moldova seemed to hold little controversy. “Russia has its sights set on the front line states of Eastern Europe,” the Texas Republican said as he unveiled his non-binding resolution last month. “One such… Read More
27th October 2016
Taiwan’s new top financial cop has said he will personally work to tackle a money laundering scandal that has engulfed the island’s top financial officials and led to the resignation of his predecessor. Lee Ruey-tsang, who took over as chairman of the Financial Supervisory Commission (FSC) on Thursday, said he… Read More