25th July 2018
Angola’s $5 billion sovereign wealth fund locked horns with Quantum Global, manager of $3 billion of the fund’s assets, in London’s High Court on Tuesday, as the investment firm sought to overturn an asset freeze the fund obtained. The Angolan sovereign fund, known by its Portuguese acronym FSDEA, has taken… Read More
16th July 2018
AP — Microsoft is calling on Congress to regulate the use of facial recognition technology to protect people’s privacy and freedom of expression. It’s the first big tech company to raise serious alarms about an increasingly sought-after technology for recognizing a person’s face from a photo or… Read More
13th July 2018
A criminal complaint against Danske Bank (DANSKE.CO) over alleged money laundering at its Estonian branch has been filed by Bill Browder, once the biggest foreign money manager in Russia who is now campaigning to expose corruption. Browder, who leads a campaign against Russian officials he blames for the 2009 death… Read More
10th July 2018
Britain’s Financial Conduct Authority (FCA) has proposed a new directory of individuals employed in the UK financial services sector, a move it hopes will reassure the public that listed individuals are ‘fit and proper’ for their roles. The directory will include more information about individuals working in financial services… Read More
4th July 2018
AP — Former Malaysian Prime Minister Najib Razak was arrested Tuesday by anti-graft investigators and will be charged over his alleged role in the multibillion-dollar looting of a state investment fund, officials said. A government task force probing alleged theft and money laundering at the 1MDB state… Read More
3rd July 2018
Gennady Timchenko, a billionaire friend of Russian President Vladimir Putin, has sold his private jet, according to a broker and aircraft registration data, after complaining that U.S. sanctions made it impossible for him to use the aircraft. The owner of the Gulfstream jet now is a subsidiary of Russia’s sovereign… Read More
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