Danske Bank faces €28 million money laundering probe in France
21st January 2019
Danske Bank faces €28 million money laundering probe in France
French authorities are considering launching an investigation into scandal-hit Danske Bank over violating anti-money laundering rules involving transactions worth millions of euros. In recent days, the French Tribunal de Grande Instance de Paris Court issued Danske with a letter summoning it to an interview to discuss matters relating to an… Read More
Malaysia open to talks if Goldman pays $7.5 billion, minister says
20th January 2019
Malaysia open to talks if Goldman pays $7.5 billion, minister says
Malaysia’s finance minister said on Friday the government would be ready to discuss dropping criminal charges against Goldman Sachs (GS.N) linked to the 1MDB scandal if the bank pays $7.5 billion in reparations. Goldman Sachs is being investigated by Malaysian authorities and the U.S. Department of Justice for its role… Read More
Anti-money laundering: Estonia rejects plans for ‘unexplained wealth orders’
18th January 2019
Anti-money laundering: Estonia rejects plans for ‘unexplained wealth orders’
Estonia has dropped plans for a rule that would demand people suspected of benefiting from suspected criminal cash prove the source of their wealth is legitimate. Estonia has been thrust into the limelight in recent months following a €200 billion money laundering scandal stemming from the Estonian branch… Read More
UK regulator FCA publishes 2019 fines
18th January 2019
UK regulator FCA publishes 2019 fines
The Financial Conduct Authority (FCA) has announced details of fines published so far during the calendar year ending 2019. The penalties amount to around £79 million. Tabled figures show that on 16 January this year it fined ex-Keydata Investment Services CEO Stewart Owen Ford £76 million for ‘failing to… Read More
Treasury poised to ease sanctions tied to Russian oligarch
18th January 2019
Treasury poised to ease sanctions tied to Russian oligarch
AP — The Treasury Department appears set to lift sanctions on three companies connected to Russian oligarch Oleg Deripaska despite concerns from lawmakers in both parties who say the Trump administration should be tougher on Russian President Vladimir Putin and his allies. Treasury’s decision to ease… Read More
ECB concerned by reports Spanish bank BBVA hired firm to spy in 2004: sources
18th January 2019
ECB concerned by reports Spanish bank BBVA hired firm to spy in 2004: sources
The ECB has expressed concerns over reports that Spanish bank BBVA (BBVA.MC) hired a former police chief in 2004 to spy on a would-be buyer and some of its officials have discussed it with the bank, a source with knowledge of the situation told Reuters. Another source briefed about the… Read More
UK: HMRC announces Top 10 prosecutions of 2018
18th January 2019
UK: HMRC announces Top 10 prosecutions of 2018
The United Kingdom’s tax authority HM Revenue and Customs (HMRC) has published a list of its top cases of 2018, which features money launderers, smugglers and a globe-trotting tax fugitive. HMRC said its fraud investigations have led to 671 individuals being convicted in over the last 12 months for their… Read More
Old money: Belgium fines 92-year-old fraudster
18th January 2019
Old money: Belgium fines 92-year-old fraudster
A 92-year-old woman who defrauded the Belgian tax authorities of millions of euros over many decades was spared jail on Wednesday but must pay over 4 million euros in fines and back taxes. Branded by prosecutors as “maniacal” about managing her money, the woman named only as Betty W., won… Read More
Terror financing: UK man claims Syria cash was for brother’s ‘medical advice’
17th January 2019
Terror financing: UK man claims Syria cash was for brother’s ‘medical advice’
A British man has been jailed for allegedly sending funds to his brother who travelled to Syria in order to help establish an Islamic state. Sheffield-based Abdurahman Kaabar admitted sending money to his brother but denied knowing or suspecting it might be used to fund terrorism. Instead, he claimed… Read More
Plan to boost powers of EU finance watchdogs set to be put on hold
17th January 2019
Plan to boost powers of EU finance watchdogs set to be put on hold
European Union finance ministers are set to put on hold a plan to strengthen the bloc’s financial watchdogs, as some states led by Luxembourg oppose ceding their national powers to supervise money managers, according to EU officials and documents. The reform, proposed by the EU executive commission in 2017, was… Read More
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