About Events Contact

Asset Management

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

Featured Asset Management

Foreign Investors Fueled Violence and Corruption in South Sudan, Report Finds

A cabal of ruling elites and warlords in South Sudan have been propped up by a complex and global web of corruption that includes would-be American arms dealers, British business tycoons, and Chinese oil giants, according to a new report released on Thursday. The report, released by the Sentry,… Read More

Probe of Venezuelan Bribery Scandal Widens With Latest Charges

The former president of a unit of Petroleos de Venezuela SA and two European wealth managers were charged with money laundering as a U.S. probe into a $1 billion bribery scheme expands. The three charged are Javier Alvarado Ochoa, a Venezuelan citizen and former president of PDVSA purchasing… Read More

Justice minister’s cousin arrested in widening corruption scandal

A court issued an arrest warrant for the nephew of scandal-struck Justice Minister Cho Kuk on Monday night as part of a widening probe into corruption allegations surrounding the minister’s family. Judge Im Min-sung of the Seoul Central District Court issued the warrant, saying the suspect’s detention was needed to… Read More

17th September 2019

StanChart Couldn’t Tell Regulator How Some Rich Clients Got Rich

Standard Chartered Plc, fined billions of dollars since 2012 for regulatory violations, has discovered that it cannot explain how some of its wealthiest clients acquired their fortunes and is reviewing thousands of customer accounts at its private bank. A Dubai regulatory review two years ago, which hasn’t previously been… Read More

13th September 2019

HMRC faces legal fight for handing Britons’ data to US tax officials

HMRC is facing a legal battle to block it from handing personal details about British citizens to US tax authorities. The case could have wide-ranging implications for tens of thousands of so-called accidental Americans who left the US when they were months or years old but risk having… Read More

13th September 2019

Moneyval: Malta must step up investigation and prosecution of money laundering

In a report published today, the Council of Europe’s anti-money laundering body MONEYVAL calls on the Maltese authorities to strengthen their practical application of their measures to combat money laundering and financing of terrorism. The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is… Read More

13th September 2019

San Marino seizes $19m from Congo dictator who spent $100,000 on crocodile shoes

The tiny republic of San Marino has confiscated €19 million (£17 million) stashed in its banks by one of Africa’s longest-serving leaders. The money was allegedly deposited by Denis Sassou Nguesso, the president of the Republic of Congo, the former French colony also known as Congo-Brazzaville. The seizure of the… Read More

12th September 2019

Saudi Businessman Tests U.S. Jurisdiction Over 1MDB-Linked Asset

Federal prosecutors in Los Angeles have been working for three years to recover assets around the world that were allegedly acquired with billions of dollars stolen from Malaysia’s 1MDB fund by people associated with former prime minister Najib Razak. But the question of whether the civil forfeiture lawsuits for overseas… Read More

10th September 2019

U.S. congressional probe finds possible lapses in Deutsche Bank controls – sources

U.S. congressional investigators have identified possible failures in Deutsche Bank AG’s (DBKGn.D) money laundering controls in its dealings with Russian oligarchs, after the lender handed over a trove of transaction records, emails and other documents, three people familiar with the matter said. The congressional inquiry found instances where… Read More

5th September 2019

FATF: Hong Kong Partially Compliant on PEPs, Beneficial Ownership

The government of Hong Kong should strengthen its oversight of politically exposed persons (PEPs) and improve its beneficial ownership laws, a financial crime watchdog group said. In a mutual evaluation report published Wednesday, the Paris-based Financial Action Task Force (FATF) found the Chinese special administrative region partly compliant with… Read More

4th September 2019

How to Scandal-Proof Your Company

In the late summer of 2016 allegations that employees of Wells Fargo’s retail banking unit had opened more than a million unauthorized accounts and sold customers thousands of unneeded products hit the national news. The scandal cost Wells Fargo dearly. On September 8 the Consumer Financial Protection Bureau (along with… Read More

4th September 2019

Deripaska Says U.S. Fails to Prove He Acted as Putin Agent

Russian billionaire Oleg Deripaska wants a U.S. judge to lift sanctions against him because, he claims, the U.S. Treasury Department failed to prove he acted as an agent of Russian President Vladimir Putin. The Treasury’s Office of Foreign Assets Control, known as OFAC, punished Deripaska last year in… Read More

29th August 2019

At start of 1MDB trial, prosecution paints a tale of excess and abuse

Malaysian prosecutors on Wednesday said former prime minister Najib Razak abused his power to cover up the theft of hundreds of millions of dollars from the state fund 1MDB and used the fund for self-gratification. On the opening day of the biggest trial in the 1MDB financial scandal, prosecutor Gopal… Read More

Must Read

Privacy Coins Face Existential Threat Amid Regulatory Pinch

Lebanon’s Jammal Trust Bank forced to close by U.S. sanctions

Foreign Investors Fueled Violence and Corruption in South Sudan, Report Finds

US helping Venezuela’s Guaido track stolen art

High-risk entities to be audited by FIAU every 18 months