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New EU Prosecutor’s Office Takes Aim at 50-Billion-Euro-a-Year ‘Carousel Fraud’ Schemes

By Will Neal, OCCRP, 30 November 2020 OCCRP — OCCRP spoke with the head of the new European Public Prosecutor’s Office about the challenges in fighting the widespread — but often-ignored — criminal scheme. “No one’s interested in value-added tax. It’s just not sexy enough.” There’s an edge of… Read More

The public knew he was crooked in 2009. Big banks helped him stash millions until 2017.

By Will Fitzgibbon, ICIJ, 30 November 2020 ICIJ — JPMorgan Chase, America’s largest bank, helped move millions of dollars for a New Jersey con man long after he was first accused of ripping off customers looking for good deals on the used cars of their dreams. Many borrowed from… Read More

SBM Offshore Faces Swiss Probe Over Legacy Bribery Allegations

Oil-services firm SBM Offshore NV is facing an investigation by the Swiss government into bribery allegations that the company said it has already paid hundreds of millions of dollars to resolve in three other countries. Amsterdam-based SBM Offshore said Monday that three of its subsidiaries had received notice of… Read More

1st December 2020

Outside Monitors Urge Deutsche Bank to Quit Russia

Deutsche Bank AG executives want to expand in Russia despite a legacy of missteps and massive fines. Outside monitors who watch over the bank’s money-laundering controls said it should shut the business instead, according to a person familiar with the communications. The monitors, appointed by New York state’s Department of… Read More

1st December 2020

Indonesian Fisheries Minister Edhy Prabowo arrested over alleged lobster corruption

Indonesia’s Fisheries Minister Edhy Prabowo faces up to life in jail after being arrested by the country’s Anti-Corruption Commission over lobster larvae export permits. The Anti-Corruption Commission, known by its Indonesian acronym KPK, arrested Mr Prabowo and his wife Iis Rosita Dewi as they arrived at Jakarta airport from the… Read More

1st December 2020

JPMorgan to Double Singapore Private Bankers for Rich Chinese

JPMorgan Chase & Co. plans to double the number of private bankers serving Chinese clients from Singapore over the next two years, signaling its ambition to tap growth from Asia’s second-largest wealth market. The U.S. bank currently has more than a dozen relationship managers serving Chinese residents and those on… Read More

1st December 2020

We’ve All Been Deceived. There is No War on Drugs.

By Robert Mazur, former U.S. Federal Agent and author of “The Infiltrator” Having been one of the soldiers in the war on drugs for 27 years, I must confess that I, my brothers and sisters on the front lines, the American public and the world’s communities have been deceived. A… Read More

30th November 2020

UK Crime Agency Reveals Progress of SARs Reform Programme

The UK’s NCA (National Crime Agency) has unveiled details of a project to reform the SAR (suspicious activity report) regime, amid a large increase in the number of submissions from financial institutions and other reporting entities. The NCA received over 570,000 SARs in the year to March 2020, an increase… Read More

30th November 2020

Britain urged to probe wealth of Russian family whose son had ‘world’s most expensive wedding’

It was perhaps the world’s most expensive wedding; an extravaganza costing tens of millions of pounds with performances by Jennifer Lopez, Sting and Enrique Iglesias, a fleet of Rolls Royces to ferry the guests and a 20-year-old bride wearing a $1m dress and a $5m crown. The groom, Said Gutseriev,… Read More

30th November 2020

Organized Crime Has a New Tool in Its Belts – Artificial Intelligence

By David Klein, OCCRP, 27 November 2020 OCCRP – As new technologies offer a world of opportunities and benefits in many sectors, so too do they offer new avenues and for organized crime. It was true at the advent of the internet, and it’s true for… Read More

30th November 2020

EU to use Magnitsky-style law to impose sanctions on human rights abusers

The EU will take on powers to freeze assets and impose travel bans on individuals involved in human rights abuses from next month, after the bloc’s member states provisionally approved a European Magnitsky Act. The restrictive measures – set to be formally signed off on Human Rights Day on 10… Read More

30th November 2020

Deutsche Bank Accounting Head Probed Over EY Wirecard Audit

Deutsche Bank AG’s top accounting executive, Andreas Loetscher, is being investigated over his role as the auditor of Wirecard AG while he was with his former firm, Ernst & Young, two people familiar with the matter said. Germany’s accounting regulator, APAS, is… Read More

30th November 2020

SocGen Ordered to Return $150 Million of Allen Stanford Ponzi Cash

Societe Generale SA was reprimanded by a Swiss court and ordered to give up $150 million deposited by convicted fraudster Allen Stanford that it had fought for nearly a decade to keep. The court ruled that Societe Generale failed to do proper due diligence before accepting Stanford’s money. The… Read More

Must Read

New EU Prosecutor’s Office Takes Aim at 50-Billion-Euro-a-Year ‘Carousel Fraud’ Schemes

The public knew he was crooked in 2009. Big banks helped him stash millions until 2017.

Silent victims: the hidden Romanian women exploited in the UK sex trade

SBM Offshore Faces Swiss Probe Over Legacy Bribery Allegations

Outside Monitors Urge Deutsche Bank to Quit Russia