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Two former Julius Baer CEOs reprimanded following money laundering inquiry

Two former CEOs of private bank Julius Baer were reprimanded on Thursday by Switzerland’s financial regulator after an inquiry into money laundering in Venezuela and corruption at soccer’s world governing body FIFA. Regulator FINMA did not name the executives but former Chief Executive Boris Collardi, now a partner at Geneva… Read More

Former Vatican Banker Convicted of Money Laundering and Embezzlement

A Vatican court on Thursday convicted a former senior official at the Vatican bank and his lawyer of embezzlement and money laundering, sending a strong signal that the church was determined to get its financial house in order. The defendants — Angelo Caloia, the president of the Vatican bank for… Read More

Latvian bank allegedly linked to Putin’s pink palace scheme

Latvian bank “SMP bank” played a role in a complex chain of transactions that helped Russian President Vladimir Putin obtain a palatial private residence, according to Georgy Alburov, an associate of Russian opposition figure Alexey Navalny and his Anti-Corruption Foundation (FBK). Alburov made the allegation in an interview with Russian-language public… Read More

22nd January 2021

Italian mafia sweep nets centrist leader, white-collar workers

Italian police arrested 50 people on Thursday and placed a prominent centrist politician under investigation in a crackdown on the ‘Ndrangheta mafia that prosecutors say lays bare its efforts to launder cash and buy influence. The ‘Ndrangheta is based in the southern region of Calabria, the toe of Italy’s boot,… Read More

22nd January 2021

China Imports Oil Doctored to Skirt U.S. Sanctions on Venezuela

It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, shell companies and silenced satellite signals. But there’s another aspect to the dodge. It… Read More

22nd January 2021

U.N. aid coordinator halts Venezuela cash transfer programs

The United Nations Office for Coordination for Humanitarian Affairs said on Wednesday it has halted programs in Venezuela that provide cash transfers to the poor via local nonprofit organizations. The U.N. office known as OCHA is asking the government of President Nicolas Maduro to establish clear rules regarding cash transfers. Read More

22nd January 2021

Men jailed over £12m ‘UK’s biggest’ fake cash plot

Three men have been jailed for a plot to supply more than £12m worth of counterfeit banknotes. Police found one of the men at a printing unit surrounded by fake £20 notes totalling £5.25m. A further £5m was found by a dog walker, while £200,000 was scattered on a railway… Read More

22nd January 2021

Incoming Biden Administration Hints at More Turkey Sanctions

President-elect Joe Biden’s pick to lead the State Department said the U.S. would decide whether more steps need to be taken against Turkey once it determines the impact of sanctions already imposed over Ankara’s acquisition of a Russian missile system. “We need to take a look… Read More

22nd January 2021

Biden Is Expected to Tap Michael Barr as Comptroller of the Currency

President Biden is expected to nominate Michael Barr, a former Treasury Department official, to a top post overseeing national banks such as JPMorgan Chase & Co. and Wells Fargo & Co., according to people familiar with the decision. Mr. Barr, who would… Read More

22nd January 2021

Biden’s regulation freeze slows FinCEN’s proposed crypto wallet rules

One of the first actions President Joe Biden has taken on his first day in office is to freeze Federal regulatory process, including the controversial self-hosted crypto wallet regulations proposed by former Treasury Secretary Steven Mnuchin. The announcement came in a White House memorandum for the… Read More

22nd January 2021

Cyprus: MPs give government two weeks to adapt anti-corruption bill

The House legal affairs committee on Wednesday finished discussion of a bill providing for the creation of an authority against corruption and gave the government two weeks to incorporate the changes into the bill so that it could be put to the vote soon. “Through discussion … views were exchanged,… Read More

21st January 2021

EU Parliament Set To Demand Halt To Nord Stream 2 Over Navalny Arrest

European lawmakers are expected to pass a resolution on January 21 calling on the European Union to halt construction on the nearly complete Nord Stream 2 pipeline, which would carry Russian natural gas to Germany under the Baltic Sea. Members of the European Parliament are calling for expanded sanctions… Read More

21st January 2021

ABN Amro money laundering probe close to settlement

Prosecutors are close to a settlement with Dutch bank ABN Amro over allegations it failed to report or probe suspicious transactions by its clients for years, the FD newspaper said on Wednesday, citing sources close to the talks. ABN and prosecutors could not immediately be reached to comment on the… Read More

Must Read

Two former Julius Baer CEOs reprimanded following money laundering inquiry

Former Vatican Banker Convicted of Money Laundering and Embezzlement

Latvian bank allegedly linked to Putin’s pink palace scheme

Italian mafia sweep nets centrist leader, white-collar workers

China Imports Oil Doctored to Skirt U.S. Sanctions on Venezuela