1st October 2020
The ownership of hundreds of thousands of companies registered in one of the world’s most secretive financial jurisdictions is to be made public for the first time. The British Virgin Islands (BVI) has committed itself to creating a publicly accessible register of company ownership by 2023 in a move welcomed… Read More
1st October 2020
New York’s top financial regulator says banks and governments have allowed money laundering to “metastasize” inside the banking system and wrap itself “within the guts of financial institutions.” In an opinion piece released days after the FinCEN Files investigation revealed sweeping failures by global banks to stop illicit… Read More
1st October 2020
The threat of financial crime in Jersey by overseas criminals is “significant”, a government report has found. The National Risk Assessment of Money Laundering is the first study of its kind and has been made public by the Government of Jersey. It found there was “no clear expression” on… Read More
1st October 2020
A U.S. proposal to almost totally sever Iran from the global financial system could sharply hinder its ability to secure supplies of food and drugs as it struggles to contain a resurgence of the worst coronavirus outbreak in the Middle East. The Trump administration is considering targeting more than… Read More
1st October 2020
Two American law firms have started building class action law suits against HSBC and Standard Chartered following allegations the banking giants failed to crack down on money laundering. Labaton Sucharow and Schall Law, which both have a track record of pursuing vast legal claims against listed companies, said they have… Read More
1st October 2020
GLEIF (Global Legal Entity Identifier Foundation) has introduced a new LEI ‘Validation Agent’ framework, which will enable FIs to simplify and accelerate LEI (legal identity identifier) issuance for their clients. Until now, the process of obtaining an LEI has usually occurred in the latter stages of client onboarding, requiring the… Read More
1st October 2020
The BSP (Bangko Sentral ng Pilipinas) is reportedly revising guidelines on VCEs (virtual currency exchanges) and EMIs (electronic money issuers) to tighten possible regulatory gaps in its existing rules for VASP (virtual asset service providers). According to Manila Bulletin, the accelerated growth in virtual assets and the associated regulatory… Read More
30th September 2020
What links the Azerbaijani laundromat, the Danske Bank scandal and a fraudulent enterprise run by the Mafia from a caravan park in Lancashire? Aside from the egregious amounts of money involved, the common thread in all of these cases is the use (and abuse) of UK corporate… Read More
30th September 2020
AP — French police arrested 29 people around the country on Tuesday in a vast operation to break a complex scheme financing Islamist extremists in Syria through the use of cryptocurrencies. A statement from the anti-terrorism prosecutor’s office said search warrants are out for the two main figures in the… Read More
30th September 2020
By Robert Mazur, former U.S. Federal Agent and author of “The Infiltrator” I’ve had the privilege of working with journalists from the International Consortium of Investigative Journalists (ICIJ), BuzzFeed News and many other media outlets during the past decade. When approached a few months ago to analyze leaked Suspicious Activity… Read More