10th January 2020
In December 2016, the Japanese Diet passed the integrated resorts promotion law, the first in a two-step legislative process to legalize casinos in Japan. Japan passed the promotion law shortly after the ruling Liberal Democratic Party (LDP) – the party of Prime Minister Shinzo Abe — won enough seats in… Read More
10th January 2020
A commission charged with looking into British Columbia’s money laundering problem has confirmed the dates for its public hearings. In an email Thursday, the Cullen Commission of Inquiry into Money Laundering in British Columbia said it will begin hearing opening statements from stakeholders — participants granted formal standing at the hearings —… Read More
3rd January 2020
An adviser to a Chinese gambling operator under investigation for allegedly bribing Japanese lawmaker Tsukasa Akimoto over a casino resort project has told investigators that the company also gave cash to another five lawmakers, a source familiar with the matter said Thursday. Katsunori Nakazato, the adviser to 500.com Ltd., said… Read More
2nd January 2020
Malaysia’s central bank, known as Bank Negara Malaysia (BNM), has issued a revised policy document on anti-money laundering/counter financing of terrorism (AML/CFT) and targeted financial sanctions (TFS), which take effect on January 1. The document provides guidelines for designated non-financial businesses and professions (DNFBPs) and non-bank… Read More
1st January 2020
With its marble walls, gilded lobby and sign with Chinese characters that can mean “paradise on earth,” the Skytop International Club never tried to be subtle. Opened last year on the fringes of the Makati business district, Manila’s Wall Street, the club became known as a place where men would… Read More
25th December 2019
Tokyo prosecutors arrested a ruling party lawmaker on suspicion of receiving cash from a Chinese company seeking to invest in the casino industry, dealing a blow to unpopular plans to open the country to the gaming industry. Liberal Democratic Party politician Tsukasa Akimoto, who had served as a vice minister… Read More
20th December 2019
Goldman Sachs is negotiating with federal prosecutors to pay a fine of as much as $2 billion, and have a subsidiary plead guilty to settle claims about its role in a scheme to loot billions from a sovereign wealth fund in Malaysia, according to two people with knowledge of… Read More
11th December 2019
The European Commission said it would only consider money-laundering reforms after it completes a thorough assessment of the issue, dashing hopes the EU executive would act rapidly to crack down on dirty money flowing through the continent. Last week, EU governments backed a plan to strengthen the bloc’s powers to… Read More
6th December 2019
Boris Johnson’s anti-corruption champion has said that the UK must “clamp down harder” on corruption after an investigation revealed how a British company registered a global web of businesses linked to international crime gangs. John Penrose, who co-ordinates the response to corruption, said that Britain’s reputation for integrity was vital… Read More
28th November 2019
The Financial Intelligence Analysis Unit (FIAU) has launched a massive hunt for information regarding any possible financial transactions made by former Tumas Group CEO Yorgen Fenech or any of the 61 companies connected to him over the past years. In “strictly confidential” correspondence sent to all financial practitioners and financial… Read More