9th April 2019
Following HSBC’s 2012 money laundering scandal, the Financial Action Task Force called on financial and credit institutions to adopt group-wide financial crime policies. The Fourth EU Anti-Money Laundering Directive (4AMLD), passed in 2015, implemented a similar requirement for European institutions. But to address situations when international firms could not fully… Read More
8th April 2019
Dutch prosecutors on Friday said they have arrested three former employees of a Dutch company suspected of laundering about $1.2 billion for a client in India. The company bought materials and services for a client that since 2006 has been involved in a major gas pipeline project in India, the… Read More
8th April 2019
Wealthy Chinese nationals are increasingly obtaining so-called “golden visas” from the Greek government despite concerns that such arrangements open the door for money launderers, The National Herald reported Sunday. Under Greek regulations, investors who buy land, property or securities worth at least €250,000 can obtain visas that include residency permits and… Read More
8th April 2019
Swedbank Chairman Lars Idermark has quit only a week after the lender’s chief executive was ousted over her handling of a money laundering scandal, saying the controversy threatened to distract from his role as head of forestry group Sodra. The bank, Sweden’s biggest mortgage lender, had fired its CEO Birgitte… Read More
8th April 2019
A Tijuana man pleaded guilty to using his currency exchange houses to launder $13 million in drug trafficking proceeds for the Sinaloa cartel, the US Justice Department said. From April 2013 through November 2015, Cesar Hernandez-Martinez managed and supervised an “extensive” international money laundering operation that knowingly accepted and transferred… Read More
8th April 2019
The family of an American killed when a Malaysian Airlines plane was shot down over Ukraine in 2014 filed a lawsuit on Thursday against U.S.-based money transfer companies and two Russian banks they accuse of providing services to the group they blame for striking Flight MH17. MH17 was brought down… Read More
8th April 2019
AP — A top Croatian court has increased to six years the corruption sentence against former Prime Minister Ivo Sanader and ordered his immediate imprisonment. Sanader was transferred to a Zagreb prison on Thursday evening after the court upheld prosecutors’ appeal of the 2017 sentence of four and one-half years in… Read More
8th April 2019
AP — The Trump administration is preparing to designate Iran’s Revolutionary Guard a “foreign terrorist organization,” an unprecedented move against a national armed force that could have widespread implications for U.S. personnel and policy in the Middle East and elsewhere. Officials informed of the step said an announcement was expected… Read More
5th April 2019
The Financial Conduct Authority will not shy away from criminally prosecuting individuals responsible for egregious anti-money laundering failures, the head of enforcement at the agency said Thursday. The supervisory authority, known as the FCA, currently has a “large number of investigations” on its docket, some of which are entering significant… Read More
4th April 2019
The government of Malta has no coherent plan to fight corruption and has failed to penalize officials for apparent criminality, a Strasbourg-based watchdog group said in a report Thursday. While the country has an adequate institutional framework “on paper” to mitigate governmental wrongdoing, a string of high-profile corruption scandals involving… Read More