15th July 2019
U.S. President Donald Trump has the authority to waive sanctions on Turkey for its purchase of Russian air defence systems and should find a “middle ground” in the dispute, President Tayyip Erdogan said on Sunday. Erdogan’s comments came two days after NATO member Turkey took delivery of the first consignment… Read More
15th July 2019
Beijing made clear its unhappiness Friday over the recent camaraderie between the U.S. and Taiwan, announcing sanctions against American companies involved in arms sales to the self-ruled island and reaffirming the eventual “reunification” of the two sides of the Taiwan Strait was inevitable. Chinese Foreign Minister Wang Yi expressed “serious concern” over… Read More
15th July 2019
Criminal Code amendments to make it easier to prove money laundering are now in force in Canada. The change to the Criminal Code offence of money laundering adds recklessness, a change that became law at the end of June. This amendment criminalizes the activity of moving money… Read More
15th July 2019
After a U.S. money-laundering probe rocked Latvia’s economy, sending one of its largest banks belly up, the Baltic nation’s U.S.-born leader is trying to convince Washington and business leaders that he’s cleaning up his country’s financial system for good. In meetings this week with top investors and U.S. policy makers,… Read More
15th July 2019
India has told a tribunal the local auditing affiliate of international accounting group Deloitte Touche Tohmatsu is misreading a key federal law as the firm seeks to avoid a five-year ban on new business, according to legal documents reviewed by Reuters on Sunday. Deloitte Haskins & Sells LLP is contesting… Read More
15th July 2019
The founder of a Washington private intelligence company is in deep trouble with the feds for his alleged willingness to take on a risky new client: a Mexican drug cartel. On Wednesday, federal law enforcement raided the house and seized the electronics of executive Michael Bagley in connection with a… Read More
15th July 2019
A new UK plan to tackle economic crime would fail to hold companies sufficiently liable for illicit activity beyond bribery and tax evasion, anti-corruption campaigners told the Financial Times. Under current laws, British firms can only be deemed guilty of other financial crimes if the “directing mind”—a senior manager… Read More
12th July 2019
The European Union is preparing an overhaul of its listing of countries that pose money-laundering risks, an EU confidential document shows, a review that could allow Saudi Arabia to be moved to a new gray list after having been briefly blacklisted. The EU executive added the oil-rich kingdom in February… Read More
12th July 2019
Credit Suisse is ensnared in a Swiss criminal probe into alleged money laundering involving a criminal organization and the illegal drug trade. The Swiss attorney general has named the investigation “Bulco”: prosecutors are investigating alleged money laundering by a criminal organization, weekly Schweiz am Wochenende (in German) reported. The… Read More
12th July 2019
A Spanish effort to prosecute a gang that used Bitcoin automated cash machines suspected of being a front for illegal-drug payments has exposed a hole in European anti-money-laundering controls, law-enforcement authorities in the country said. Rules designed to force money handlers to vet their clients don’t apply to the cash… Read More