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German regulator examines auditor EY over Wirecard accounts

The German body in charge of regulating auditors is examining the work of EY, the auditor that approved the books of collapsed payment services firm Wirecard, the German Economy Ministry said on Monday. The ministry said Auditors’ Regulator (Apas) had upgraded a preliminary investigation that had been running since October… Read More

Japan MPs push for Hong Kong sanctions bill in wake of national security law

Japanese politicians from across the political spectrum have set up a group to discuss a bill that would impose sanctions on foreign individuals and organisations that have committed human rights abuses, with particular attention being paid to Hong Kong. The group held its first meeting on Wednesday, with 30… Read More

Where FATF crypto compliance gets interesting: Africa

Africa isn’t included on the virtual asset regulatory map just yet. But crypto businesses seeing strong growth across the 54-country continent are working hard on know-your-customer (KYC) rules to meet the exacting standards set out by the Financial Action Task Force (FATF). A broad range of entities operating in Africa,… Read More

31st July 2020

Maltese banks told to keep eyes open for suspicious terror funding patterns

Terrorism is historically an uncommon factor inside Malta, but terror financing is a distinct phenomenon which the island has not been immune to. A report by Malta’s Financial Intelligence Analysis Unit (FIAU) has revealed various cases in which Maltese credit institutions were used for the funding of terror organisations, as… Read More

29th July 2020

Estonia: Tax board wants to widen money laundering due diligence on key state posts

The Tax and Customs Board (MTA) wants to extend the list of key national security positions requiring due diligence measures in the fight against money laundering. “We propose extending the list … to the post of Chief of the Intelligence Center (kaitseväe luurekeskus), Deputy Director General of the Internal Security… Read More

27th July 2020

Germany to toughen financial regulation after Wirecard scandal

The German finance ministry has unveiled a sweeping reform of financial regulation in the wake of the Wirecard scandal, as pressure mounts on the authorities over their failure to properly police the disgraced payments company. BaFin, the financial regulator, is to be equipped with “sovereign powers” to intervene “directly… Read More

23rd July 2020

U.S. banks given regulatory green light to safekeep cryptocurrencies

A leading U.S. banking regulator said on Wednesday that national banks may provide custody services for cryptocurrencies. The Office of the Comptroller of the Currency said in a new letter that providing custody and safekeeping services for cryptocurrencies, including holding “keys” needed to access cryptocurrency holdings, is a modern version… Read More

22nd July 2020

Singapore proposes new powers to deal with risks in financial sector

More muscle to prevent unsuitable individuals from working in the finance industry and strengthen the framework for technology risk management are among new proposals made by the Monetary Authority of Singapore (MAS) to deal with risks that can undermine the sector. It issued a consultation paper proposing such enhanced powers… Read More

22nd July 2020

Pakistan: Cabinet set to hike money laundering fine

The cabinet, in its meeting scheduled for Tuesday, is set to give the go-ahead for a massive increase up to Rs100 million in fine on offenders involved in money laundering in a bid to implement the action plan agreed with the Financial Action Task Force (FATF). Draft amendments to the… Read More

22nd July 2020

European banking regulator to probe Luanda Leaks’ allegations

The European Banking Authority will probe revelations contained in Luanda Leaks, an investigation led by the International Consortium of Investigative Journalists (ICIJ) into how billionaire businesswoman Isabel dos Santos made her fortune. Confirmation of the probe follows a demand by the European Parliament for the regulator to assess… Read More

21st July 2020

Europol helps EU’s eastern neighbours fight organized crime

OCCRP – A new project that will be led by Europol and financed by the European Commission will help the EU’s eastern neighbours — Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine — fight organized crime. “Located along the Black Sea and forming part of the ‘heroin route’ from the… Read More

21st July 2020

Malta: 10,000 companies taken off registry

Around 10,000 defunct companies have been stricken off the Malta Business Registry, in another move intended to improve the island’s reputation. Companies were taken off the list when they failed to file annual reports or accounts or did not give official ownership information. Malta now has 96,000 companies on the… Read More

20th July 2020

U.S. imposes sanctions on son of Nicaragua’s president

The United States on Friday imposed sanctions on another son of Nicaraguan President Daniel Ortega, accusing him of corruption and spreading propaganda in the latest effort by Washington to put pressure on the leftist government. The Treasury Department in a statement said it blacklisted Juan Carlos Ortega Murillo alongside Jose… Read More

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Swiss bankers and millions in gold tied to Hugo Chávez’s former nurse

German regulator examines auditor EY over Wirecard accounts

New York Is Investigating Trump and His Company Over Bank Fraud, Filing Suggests

Tax haven residents hold $5.7 billion of cash in Australia

UK gambling probe launched amid fears of money laundering and spiralling debt