Featured Compliance

Deutsche Bank’s Payments to Saudi Royal Adviser Under Scrutiny: F T

Deutsche Bank’s Switzerland-based wealth management division paid $1.1 million to secure lucrative business arrangements with a senior member of the Saudi royal family, the Financial Times reported Sunday, citing the findings of an internal probe conducted by the bank. The funds, which were offered in tandem with an internship… Read More

Georgia On Their Minds

When an officer from Fulton County, in the U.S. state of Georgia, went to check out a mansion registered to one Karina Gapchuk Fox in late 2018, he found no signs of life except the cobwebs that adorned the doors. Process server John Sadler, Jr., had been sent to track… Read More

Auditors EY accused of pushing out whistleblower, in High Court case

Global auditing firm EY has been accused of pushing out a whistleblower who raised concerns about a client in Dubai, in a case that raises questions for the auditing profession at a time of upheaval. Former EY partner Amjad Rihan claims executives at EY helped its client Kaloti Jewellery International,… Read More
28th January 2020
President Hassan Rouhani said on Monday Iran should stick to rules set by an anti-money laundering watchdog to protect ties between the sanctions-hit country and international banks, as a deadline for compliance looms. Hit hard by reimposed U.S. sanctions since 2018 that limited its oil sales, Iran is scrambling for… Read More
28th January 2020
A professional soccer whistleblower has been named as the source behind a global exposé of the siphoning of Angolan wealth by Africa’s richest woman and her family. Led by the International Consortium of Investigative Journalists, Luanda Leaks reveals how Isabel dos Santos, amassed a fortune of more than $2… Read More
28th January 2020
Singapore is introducing new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from… Read More
28th January 2020
The planned restructuring of Swedish oil refiner Nynas AB shows how some companies are trying to disentangle ownership to free themselves from U.S. sanctions. Stockholm-based Nynas this week said it would reorganize with the goal of getting out from under U.S. sanctions. The company is co-owned by Petróleos de Venezuela… Read More
28th January 2020
HM Revenue & Customs has helped uncover £200m worth of suspected tax evasion and money laundering in the UK. The action — which occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and the UK — is centred around a Central American financial institution… Read More
27th January 2020
Her website once described her as a “poet, mezzo-soprano, designer and exotic Uzbekistan beauty”. Or, as more critical voices have put it, a “robber baron” who purloined hundreds of millions of pounds in bribes. Now another facet of Gulnara Karimova has come to light: former neighbour of Sir Bruce Forsyth. Read More
27th January 2020
Reports of suspicious transactions submitted by banks and betting firms in Denmark have increased tenfold in recent years, straining anti-money laundering authorities which drew heavy criticism on Friday from a state auditor. Banks across the Nordic region are facing increasing scrutiny by regulators after a string of money laundering scandals,… Read More
27th January 2020
In narrow terms, the economic sanctions imposed by the United States on Iran in the last two years have been effective, shrinking the Iranian economy by 10 to 20 percent. But they have also accelerated Iran’s use of cryptocurrencies such as bitcoin, which are increasingly used by the Iranian government… Read More
27th January 2020
Long accused of being too soft, a U.S. bank regulator has surprised its critics with tough treatment of scandal-ridden lender Wells Fargo, culminating on Thursday in more than$58 million in fines against eight former executives at the bank. Consumer groups had worried that the Trump administration’s pick to lead the… Read More
27th January 2020
AP — French officials have filed preliminary charges of money laundering and extortion against Russian bitcoin fraud suspect Alexander Vinnik, who’s tangled in a multi-country legal battle. The United States also wants to prosecute Vinnik, accusing him of laundering billions of dollars through BTC-e, one of the world’s largest… Read More