Featured Terrorism Financing

Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

By Iwa Salami, University of East London The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what is perhaps the most profound development since the birth of cryptocurrencies through… Read More

Lebanon health minister says no concerns over sanctions

AP — Lebanon’s health minister — named to the post by the country’s Hezbollah group — said Saturday he has overcome U.S. concerns about his ministry potentially funneling finances to the militant organization by gaining public trust and ensuring transparency. Jamil Jabak told The Associated Press that although he is… Read More

U.S. urges Latvia to step up reform after money-laundering scandal

Latvia came under renewed pressure to accelerate financial reforms as a senior U.S. official, at a meeting with its prime minister, underscored the urgent need for stricter controls after a money laundering scandal. His remarks come more than a year after the United States acted to shut down ABLV, a… Read More
15th May 2019
Facing unprecedented pressure to clamp down on criminal groups, UK law enforcement officials are in need of an additional £2.7 billion in funding over the next three years, the head of the National Crime Agency (NCA) said Monday. The agency is seeking a 54-percent increase in its annual budget, which… Read More
15th May 2019
AP — Drug and money-laundering investigators joined by U.S. federal agents raided a villa linked to one of Venezuela’s richest men, Dominican officials say. Billionaire Samark López Bello was recently indicted by federal prosecutors in New York for allegedly violating sanctions on Venezuela. He has close ties to former Venezuelan… Read More
14th May 2019
Pakistan will implement fiscal and regulatory reforms, including strengthening its controls against financial crime, as part of a 3-year, $6 billion bailout agreement reached with the International Monetary Fund (IMF), the organization said Sunday. The staff-level agreement, which has yet to be approved by the IMF’s board, would seek to… Read More
10th May 2019
Brazilian lawmakers dealt a blow to the country’s graft-busting Justice Minister Sergio Moro on Thursday, when a congressional committee voted to transfer a key tool for monitoring financial transactions to the recently-formed Economy Ministry. The lawmakers also voted to reverse President Jair Bolsonaro’s decree giving the Agriculture Ministry power to… Read More
9th May 2019
Danske Bank has hired Morgan Stanley’s Satnam Lehal to lead its financial crime unit amid allegations that the institution played a prominent role in one of the largest money laundering scandals in recent years. Lehal, 41, has served as a managing director and international head of financial crime at Morgan… Read More
8th May 2019
The United States said on Tuesday that European powers are unlikely to live up to a pledge to prevent their conduit for trade with Iran being used to launder money or finance terrorism, raising the prospect of further U.S. sanctions. France, Britain and Germany have set up the special purpose… Read More
3rd May 2019
India will ask the global money laundering and terror finance watchdog to put Pakistan on a blacklist of countries that fail to meet international standards in stopping financial crime, Finance Minister Arun Jaitley said on Thursday. The Financial Action Task Force (FATF) already has Pakistan on its “grey list” of… Read More
3rd May 2019
Sudan’s public prosecutor on Thursday ordered ousted President Omar al-Bashir to be interrogated on charges of money laundering and financing terrorism, as hundreds of thousands of protesters joined a sit-in to demand the army give way to civilian rule. Bashir was removed by the military on April 11 after months… Read More
2nd May 2019
Prompt acknowledgement of internal wrongdoing and transparency over the lessons learned from conduct failures were just some of the keys to a strong corporate culture cited in a recent wide-ranging discussion on what financial firms can learn from corporations in other sectors. The need for compliance to deepen its partnering… Read More
2nd May 2019
U.S. President Donald Trump’s unexpected decision to ban all Iranian oil purchases after May 1 – ending exemptions for eight nations – came after hawkish economic and security advisors allayed the president’s fears of an oil price hike, according to three sources familiar with the internal debate. The unprecedented move… Read More