28th June 2018
AP — The total value of cash, jewelry, watches and handbags seized from properties linked to former Malaysian Prime Minister Najib Razak in a money-laundering investigation amounted to at least $273 million, police said Wednesday, calling the haul the biggest in Malaysia’s history. The items comprised 12,000… Read More
26th June 2018
AP — Apollo 11 moonwalker Buzz Aldrin is suing two of his children and a former business manager, accusing them of misusing his credit cards, transferring money from an account and slandering him by saying he has dementia. Aldrin’s lawsuit filed earlier this month in a Florida… Read More
19th June 2018
Britain’s regulator will launch an investigation into the impact of new European Union rules on the asset management industry after concerns were raised about how they affect the pricing of investment research and other issues. The change in rules was aimed at pushing more stock trading onto regulated public exchanges,… Read More
25th May 2018
Latvia has warned the European Union to bolster fragmented money laundering controls as much of the cash now leaving the Baltic state to escape tighter scrutiny is going to other EU countries. The warning was issued by the country’s prime minister and finance minister in interviews with Reuters, when both… Read More
22nd May 2018
AP — The British Parliament’s foreign affairs committee slammed the government Monday for “turning a blind eye” to the role London’s financial center plays in laundering the proceeds of Russian corruption, saying it helps the Kremlin finance its aggressive foreign policy. Despite the government’s tough rhetoric after the… Read More
10th May 2018
AP — A New York hedge fund founder was arrested Wednesday on charges that he exaggerated his company’s performance by over $200 million to impress and preserve investors. Anilesh Ahuja, 49, of Manhattan, was charged with conspiracy, securities fraud and wire fraud. Federal officials said that the founder, chief… Read More
2nd May 2018
Germany’s financial watchdog BaFin has published a statement outlining the way cryptocurrencies such as bitcoin and related investments should be classified. “For some time now, BaFin has been receiving an increasing number of queries enquiring whether tokens and virtual currencies (referred to as ”tokens“) marketed to investors in initial coin… Read More
23rd April 2018
The Financial Conduct Authority (FCA) has published a set of new rules for the asset management industry, outlining its stance on accountability rules for top executives. The FCA had previously stated that it would consult on a new specific Prescribed Responsibility (PR) for authorised fund managers (AFMs) as part of… Read More
23rd April 2018
Arab countries have finalised plans to create an independent, regional cross-border payments system after current arrangements were hit by a rise in compliance costs and downsizing by some international banks. At present, many cross-border payments and settlements among Arab countries are carried out by correspondent banks, which act as agents… Read More
23rd April 2018
The Financial Conduct Authority is to forge ahead with an initiative exploring the use of machines in financial crime programmes, according to its 2018/19 business plan. The watchdog is looking to host an international event focusing on the machine-led approach in the fight against money laundering, part of its broader… Read More