27th August 2018
A Malaysian court on Friday granted an application by the government to sell a $250 million (£194.5 million) luxury yacht allegedly bought with money stolen from scandal-tainted state fund 1Malaysia Development Berhad (1MDB). The Cayman Islands-flagged Equanimity was handed over to Malaysia by Indonesian authorities earlier this month after it… Read More
27th August 2018
The World Bank has priced the world’s first public bond created and managed using only blockchain in a A$100 million (56.84 million pounds) deal designed to test how the technology might improve decades-old bond sales practices. Commonwealth Bank of Australia, the sole manager of the deal, said in a statement… Read More
20th August 2018
The Commercial Court in London has ordered a freeze of assets owned by brothers Dmitry and Alexei Ananyev, secured against Russia’s Vozrozhdenie Bank (VZRZ.MM) and other international assets, a law firm representing investors said. The order was obtained by London law firm Withers, which applied for the freezing order on… Read More
17th August 2018
The United Kingdom’s Financial Conduct Authority (FCA) has opened a number of investigations into market firms over misconduct issues that could lead to prosecutions under Money Laundering Regulations, the regulator’s enforcement chief said. The UK considers capital markets to be exposed to high risks of money laundering due to the… Read More
16th August 2018
Paul Manafort had “a huge dumpster of hidden money” abroad, a prosecutor said on Wednesday, urging a jury to convict U.S. President Donald Trump’s former campaign chief on financial fraud charges based more on a paper trail of evidence than on the testimony of a former protege. Special Assistant U.S. Read More
15th August 2018
Financial technology companies that lend online are sounding a cautious note on a U.S. banking regulator’s plan to offer them special federal charters because of concerns over legal challenges and requirements that are more onerous than expected. The Office of the Comptroller of the Currency said last month it would… Read More
14th August 2018
The Financial Conduct Authority (FCA) and Pensions Regulator have launched a campaign warning the public of pension scams that are costing victims an average of £91,000 each. The campaign is targeted at people in their forties, fifties and sixties and encourages verifying that the pension firms they deal with are… Read More
13th August 2018
There’s been a marked increase in the number of cases launched by the Financial Conduct Authority (FCA), with figures showing it has almost a hundred more cases open compared to the same period last year. “[The FCA] has a record 504 investigations open as of 1 April, compared with 410… Read More
8th August 2018
U.S. prosecutors are investigating whether Goldman Sachs Group Inc (GS.N) has any culpability in a Malaysian fraud involving a government fund that had ties to a former bank employee, the New York Times reported on Tuesday. 1Malaysia Development Berhad (1MDB) is at the center of money-laundering investigations in at least… Read More
7th August 2018
Legislation that will enable EU firms to trade with Iran despite US sanctions will come into effect on Tuesday 7 August, the European Commission (EC) said on Monday, after Washington reimposed restrictions on Tehran and warned of ‘severe consequences’ for those who continue to deal with Iran. The EU’s… Read More