Featured Proliferation Financing

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

The U.S. and U.K. are weighing additional penalties against Russia over the use of chemical weapons, with options ranging from sanctions against oligarchs to the extreme step of targeting the nation’s sovereign debt, according to people familiar with the matter. British officials plan to push for the Organisation for the… Read More

U.S. ‘Deeply Concerned’ After Kyrgyz ‘Crime Boss’ Released From Detention

The United States says it is “deeply concerned” over the release from pretrial detention of a Kyrgyz organized-crime figure for whom Washington has offered a $1 million reward. In a statement on March 3, the U.S. Embassy in Bishkek described Kamchy Kolbaev as a “transnational organized-crime… Read More

FATF Seeks Financial Sector Input on Proliferation Financing Guidance

The Financial Action Task Force (FATF) launched a public consultation on Monday seeking public- and private-sector feedback on pending guidance that would task financial institutions with doing more to stop the proliferation of weapons of mass destruction. The consultation marks the second such call by the intergovernmental organization, which in… Read More
2nd March 2021
Iran rejected a European Union offer to hold direct nuclear talks with the U.S. in the coming days, risking renewed tension between Tehran and Western capitals. Senior Western diplomats said Iran’s response doesn’t quash the Biden administration’s hopes of reviving diplomatic efforts to restore the 2015 nuclear deal, struck between… Read More
24th February 2021
By Khadija Sharife and Mark Anderson, OCCRP, 22 February 2021 OCCRP — In January 2020, at the Turkish port of Derince on the eastern shores of the Sea of Marmara, a huge cache of weapons was loaded onto the MV Storm. Registered in the tax haven of Vanuatu,… Read More
23rd February 2021
In early December, an Israeli billionaire named Dan Gertler made an unusual request to the Treasury Department. A mining magnate who had been accused for years of corruption in deals he struck with leaders of the Democratic Republic of Congo, Mr. Gertler had been slapped with… Read More
22nd February 2021
A United Nations report accuses Blackwater founder Erik Prince of assisting in violations of an international arms embargo on Libya, placing the military contractor at risk of U.N. sanctions, according to a diplomat with access to the report. The report by the U.N. Panel of Experts that monitors the ban… Read More
21st February 2021
Within weeks of his release from a Macau prison built specifically to hold him, triad boss Wan Kuok-koi, whose rise and fall in the 1990s made headlines around the world, was back in the game. After walking out of jail on December 1, 2012, the man better known by his… Read More
17th February 2021
According to the Hungarian sociologist Balint Magyar, in a ‘mafia state’ “The state itself, at the top, works as a criminal organisation.” The term was applied to Montenegro in the 1990s, when state-sanctioned cigarette smuggling provided a financial lifeline during the wars and sanctions of Yugoslavia’s… Read More
9th February 2021
North Korea‘s army of hackers stole hundreds of millions of dollars throughout much of 2020 to fund the country’s nuclear and ballistic missile programs in violation of international law, according to a confidential United Nations report. The document accused the regime of leader Kim Jong Un of conducting “operations… Read More
9th February 2021
The Central Bank of Nigeria (CBN) has justified the ban on cryptocurrencies, saying it fuels illicit financial flow and terrorism. In a statement, Osita Nwanisobi, Acting Director, Corporate Communications, CBN, said the ban on cryptocurrencies would not have any negative impact on Fintechs as there are other robust platforms they… Read More
4th February 2021
The U.S. has gone to court to seize 2 million barrels of oil that it claims came from Iran, as Joe Biden’s administration shows little sign of taking a softer line on Tehran. The Department of Justice filed a case in a U.S. district court, seeking to seize the cargo… Read More
3rd February 2021
Two Australians owe the country more than 32 million Australian dollars ($25 million) in dodged taxes and penalties, according to officials behind a probe sparked by the Panama Papers investigation. CE Wang and Zhao Hui “Sophie” Shao were handed the bill following a review of 12 years of tax assessments… Read More