12th January 2021
The Trump administration imposed sanctions on Monday against seven Ukrainians — including two who assisted President Trump’s personal lawyer Rudolph W. Giuliani — for being part of what it called “a Russia-linked foreign influence network” that spread “fraudulent and unsubstantiated allegations” about President-elect Joseph R. Biden Jr. during the 2020… Read More
11th January 2021
China on Saturday issued a new order to prohibit firms from complying with foreign laws banning transactions with Chinese companies and individuals, effective immediately. The so-called Rules on Counteracting Unjustified Extraterritorial Application of Foreign Legislation and Other Measures apply to circumstances that “improperly prohibit or restrict” Chinese individuals, companies, and… Read More
11th January 2021
The German lender will enter a deferred prosecution agreement to resolve charges stemming from its attempts to win business in several countries. For nearly seven years it seemed like a good way to drum up business for Deutsche Bank: pay millions of dollars to consultants in countries like Saudi Arabia,… Read More
7th January 2021
Credit Suisse Group AG has cut relationships with a number of Venezuela’s wealthy as it weighs the risk of doing business with politically-exposed clients in the sanctions-hit country. Switzerland’s second-largest lender has cut assets it manages for the nation’s wealthy by more than half over the past few years,… Read More
7th January 2021
The United States has blacklisted 16 companies and an individual linked to Iran’s metals industry as part of continued efforts by the outgoing administration of U.S. President Donald Trump to deprive the country of revenue. The U.S. Treasury said late on January 5 that it was targeting the Iranian metals… Read More
7th January 2021
Justice Department alleges a worldwide money laundering conspiracy of roughly $1bn to circumvent sanctions on Tehran. The US government collected $7m in Iranian assets for victims of state-sponsored “terrorism”, the Justice Department said on Tuesday. The money was the US share of a civil forfeiture that targeted attempts to violate… Read More
6th January 2021
Norwegian firm DNV GL said Monday it was halting work to certify the Nord Stream 2 gas pipeline between Russia and Germany because of the threat of US sanctions. Technical and safety specifications must be certified for the 10-billion-euro ($12-billion) pipeline under the Baltic Sea to enter into service. “DNV… Read More
6th January 2021
By Julett Pineda Sleinan, OCCRP, 5 January 2021 OCCRP — A court in Cape Verde ruled on Monday that Colombian businessman and Venezuela’s special envoy Alex Saab can be extradited to the United States where he is facing money laundering charges in connection with a bribery… Read More
6th January 2021
South Korea’s FSS (Financial Supervisory Service) has said its inspections have identified illegal or dubious business practices at several private equity firms, including fraud and bribery. In July, the FSS set up a dedicated team to inspect 233 local private equity firms in the aftermath of… Read More
6th January 2021
The Financial Industry Regulatory Authority Inc. closed out 2020 by hitting LPL Financial, the largest independent broker-dealer in the industry, last Thursday with a $6.5 million fine due to shortcomings in a variety of supervisory issues, ranging from record keeping to fingerprinting of non-registered employees and supervision of advisers’ consolidated… Read More