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26th March 2021

Gold hub UAE toughens fight against financial crime

The United Arab Emirates, one of the world’s largest gold hubs, is strengthening its defences against financial crime, including new restrictions on the movement of cash and precious metals, the Gulf state said on Thursday. The steps follow a 2018 tightening of financial regulations that sought to dispel a view… Read More

26th March 2021

Getting Serious? Illicit Finance Is Finally a UK Foreign Policy Issue

The focus of most commentators on the UK government’s Integrated Review (IR) of Security, Defence, Development and Foreign Policy was inevitably the headline items: raising the cap on the UK’s nuclear warhead stockpile; the ‘tilt’ to the Indo-Pacific; the threat from Russia; adapting to China; cyber power; and growing… Read More

26th March 2021

US, UK Hit Two Big Myanmar Military Conglomerates With Sanctions

The United States and Britain on Thursday levelled economic sanctions on two Myanmar military holding companies that serve as a critical economic lifeline for the junta that seized power last month, in what the top U.S. diplomat called “most significant action to date to impose costs on the military regime.”… Read More

26th March 2021

Fraudsters steal record £479m from phone and text scam victims in UK

Fraudsters used the coronavirus pandemic to steal a record £479m from almost 150,000 victims in 2020. Criminals used fake texts, phone calls and other ruses to steal 5pc more cash through so-called authorised push payment scams than in 2019, according to figures from banking trade body UK Finance. The number… Read More

26th March 2021

The Sweetheart Oil Deal Funding Ukraine’s Top Pro-Kremlin Politician

By Liubomyra Remazhevska and Maksym Savchuk, OCCRP, 25 March 2021 OCCRP — In the early hours of February 27, 2014, dozens of gunmen in unmarked Russian military fatigues stormed the parliament of Ukraine’s Crimean peninsula, hoisted Russian flags, and stood guard as lawmakers voted to stage a… Read More

26th March 2021

They Exposed an Alleged Money Laundering Network. Then They Were Sentenced to Death.

Gradi Koko Lobanga and Navy Malela found out about their death sentences on social media. The two former bank auditors had just waived their anonymity to disclose that they were the sources behind a report that revealed evidence of an alleged sophisticated international money laundering network within the Democratic Republic… Read More

26th March 2021

China sanctions UK businesses, MPs and lawyers in Xinjiang row

China has sanctioned organisations and individuals in the United Kingdom over what it called “lies and disinformation” about Xinjiang, after Britain imposed sanctions for human rights abuses in the western Chinese region. The Chinese foreign ministry said in a statement that it sanctioned four entities and nine individuals,… Read More

26th March 2021

Feds slash Swiss banker’s sentence in Venezuelan money laundering case in Miami

A Swiss banker who was thrust into the spotlight of a billion-dollar Venezuelan money laundering case in Miami has received one of the biggest sentence reductions in U.S. history because of his assistance in helping federal authorities unravel an international web of financial corruption. Matthias Krull, who has been free… Read More

25th March 2021

China’s SWIFT joint venture a ‘defensive move’ in US financial war

China’s latest joint venture with the Belgium-based SWIFT financial messaging service is a “defensive move” amid ongoing tensions with the United States, highlighted by last week’s fractious talks in Alaska. China’s central bank on Tuesday announced that a newly established joint venture with SWIFT and four Chinese institutions will offer… Read More

25th March 2021

Brexit is a ‘massive opportunity’ for criminals, conference hears

Brexit is a “massive opportunity” for criminals, a webinar on serious and organised crime in the UK and Ireland was told on Wednesday. Professor Gloria Laycock, of University College London, made the remark when saying she believed the UK leaving the EU was among the issues that those concerned… Read More

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