Featured Compliance

Huawei CFO seeks publication ban on HSBC documents in U.S. extradition case

Huawei Chief Financial Officer Meng Wanzhou on Monday will seek to bar publication of documents her legal team received from HSBC, a request opposed by Canadian prosecutors in her U.S. extradition case who say it violates the principles of open court. Meng’s legal team will present arguments in support of… Read More

Betting firms won £1.3m in stolen money from gambling addict

Betting firms won £1.3m in stolen money from a gambling addict without establishing where the funds came from, it has emerged, reigniting concern about whether firms do sufficient due diligence on punters who lose large sums. Andy May, 44, was sentenced at Norwich crown court on Monday to four years… Read More

UK’s financial watchdog goes real-time to catch online criminals

Britain’s financial regulator has to make daily sweeps of the internet to warn about online scams in real time and keep pace with fraudsters who are often based outside the country, one of its officials said on Monday. Mark Steward, the Financial Conduct Authority’s (FCA) director for enforcement, said the… Read More
14th June 2021
U.K. officials have banned UAB Finolita Unio from operating in the country following a decision last week by the Bank of Lithuania to revoke the firm’s license over its alleged “severe infringement” of anti-money laundering (AML) and counterterrorism financing (CTF) laws. The U.K.’s Financial Conduct Authority (FCA) published the decision… Read More
14th June 2021
Employees at three major financial institutions are under investigation over suspected links to crime gangs involved in cyber frauds and money laundering. The three young adults — a woman and two men — separately came to the attention of gardaí investigating the rising phenomenon of online frauds and scams. The… Read More
14th June 2021
A senior cybercrime officer has warned that luxury flats being sold for bitcoin could be exploited by criminal gangs. Nigel Leary, a director at the National Crime Agency, said that he had significant concerns about bitcoin or other cryptocurrencies being used for large purchases such as property or private jets. Read More
14th June 2021
Hong Kong bankers and lawyers will be able to search the city’s companies registry under proposed exemptions to plans to tighten public access to the database, Secretary for Financial Services Christopher Hui said on Saturday. Business and governance experts have criticised a government plan to restrict access to the personal… Read More
14th June 2021
By Dejan Milovac  and Jared Ferrie, OCCRP, 11 June 2021 OCCRP — Zoran Bećirović says he’s an ordinary property developer, and he’s suing Montenegro’s two biggest newspapers and a civil society organization for years of reporting “baseless claims” against him in their coverage of his high-profile land… Read More
14th June 2021
India’s financial crime-fighting agency said on Friday that WazirX, one of the country’s largest cryptocurrency exchanges and its directors, were under investigation for suspected violation of foreign exchange regulations. The investigation comes at time when the Indian government is mulling whether to introduce a law that could ban cryptocurrencies. The… Read More
14th June 2021
A new body has been set up by in Guernsey to investigate money laundering, financial crime and to recover proceeds of unlawful conduct. The Economic Financial Crime Bureau (EFCB), which has been created by the the Committee for Home Affairs, plans to use a range methods – including the law… Read More
14th June 2021
Cybercrime officials with the Criminal Investigation Department on Saturday busted a ₹290 crore money-laundering scam linked to a hawala racket. Ten people — including two from China and two from Tibet — have been arrested. However, the kingpin and prime accused, Anas Ahmed, who hails from Kerala but resides in… Read More
11th June 2021
China enacted a new law aimed at countering foreign sanctions, in response to U.S. and European efforts to pressure Beijing on issues spanning human rights, trade and technology. Senior members of China’s legislature approved the “anti-foreign-sanctions law” on Thursday, state media said, following an expedited process that skipped public consultation… Read More
11th June 2021
The European Commission on Wednesday took Luxembourg to court, asking the European Court of Justice (ECJ) to impose a daily penalty on the country for failing to put new EU rules to stop money laundering into law. Without the rules on the freezing and confiscation of proceeds of crime, EU and national… Read More