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

AP — It was 2014 and Venezuela’s former treasurer Claudia Díaz was looking for a safe haven to store the unexplained wealth she had accumulated over the years. Then-president Hugo Chávez, who she once served as a nurse, had recently died and with the election of Nicolás Maduro, the nation’s… Read More

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

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

The Manhattan district attorney’s office suggested on Monday that it had been investigating President Trump and his company for possible bank and insurance fraud, a significantly broader inquiry than the prosecutors have acknowledged in the past. The suggestion by the office of the district attorney, Cyrus R. Vance Jr., came… Read More

4th August 2020

Tax haven residents hold $5.7 billion of cash in Australia

Residents of known tax havens held more than $5.7 billion of cash in Australian bank accounts, according to figures released for the first time, suggesting the local financial system remains vulnerable to money laundering and tax avoidance. The data from the Australian Taxation Office has been made public as part… Read More

4th August 2020

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

The Government has promised to review gambling legislation but patience is running out amid worries that the industry could be used for money laundering. A boom in online and mobile gaming has seen licensed gambling grow by 57 percent in a decade – fuelling worries about the human cost. Betting… Read More

4th August 2020

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

4th August 2020

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

4th August 2020

Malaysian lawyer faces money laundering charges involving $4.9m cheques from Najib

Lawyer Mohd Hafarizam Harun on Monday (Aug 3) claimed trial to three money laundering charges for receiving RM15 million (S$4.9 million) in illicit funds from former premier Najib Razak in 2014 and 2015. Hafarizam, a legal adviser for Umno, pleaded not guilty when the three charges were read out to… Read More

4th August 2020

Tehran busts sanctions to set up shop in Venezuela

The Islamic Revolutionary Guard Corps (IRGC), a branch of Iran’s army, is believed to be behind the opening of a superstore in Venezuela in the latest attempt to defy American-led sanctions. The Caracas branch of Megasis was officially opened last week by the Iranian ambassador and the Venezuelan vice-president. The… Read More

4th August 2020

Warning over Monzo financial crime review

Monzo is reviewing the quality of its financial crime controls and warned that the outcome could have a significant impact on its finances. The troubled digital bank, which issued a warning on Thursday over its ability to remain in business, began an investigation of its “financial crime control framework”… Read More

3rd August 2020

$340m in London law firm’s account suspected of 1MDB connection

Investigators probing one of the world’s largest financial frauds have said they suspect $340m (£255m) held in the bank account of a major London law firm is linked to money allegedly embezzled from the Malaysian state investment fund 1MDB. According to court papers, Malaysia’s anti-corruption agency is urgently trying… Read More

3rd August 2020

The U.S. is a haven for money laundering. That might be about to change.

The phrase “shell company” conjures images of offshore havens such as Panama or the British Virgin Islands, but one of the world’s leading enablers of financial secrecy is actually the United States. In every state, more personal details and proof of identity are required to get a library card… Read More

3rd August 2020

Wirecard processed payments for Maltese casino linked to ’Ndrangheta: FT

Wirecard processed transactions for a Malta-based online casino that was later found to have laundered funds for the ’Ndrangheta mafia organisation, the Financial Times reported Monday. Italian courts determined that the gaming company, Malta-based CenturionBet, was used by an arm of the ’Ndrangheta to launder millions of euros in criminal… Read More

Must Read

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