20th November 2019
AP — Brazilian police are seeking the arrest of former President Horacio Cartes of Paraguay as part of an investigation into money laundering. On Tuesday, Brazilian authorities alleged Cartes provided $500,000 to a criminal organization at the request of Dario Messer, a Brazilian associate who was then a fugitive facing… Read More
20th November 2019
The Senate on Tuesday passed a bill that compels the government to support Hong Kong pro-democracy activists by requiring it to impose sanctions on Chinese and Hong Kong officials responsible for human rights abuses in the territory. The bill, if enacted into law by President Trump, would also… Read More
20th November 2019
Five years after agreeing to pay a record fine for sanctions violations, BNP Paribas S.A. has made structural changes to its compliance division—an effort to strengthen the independence of the bank’s compliance function and improve ethical culture. The efforts have included setting compliance as an independent function that… Read More
20th November 2019
Two Icelandic banks are already investigating the accounting of Samherji—the Icelandic fishing giant currently embroiled in a scandal involving bribing Namibian officials for fishing quotas, and using a shell company in a tax haven to squirrel away the proceeds, Vísir reports. Samherji’s activities were brought to light last… Read More
20th November 2019
The European Economic and Social Committee (EESC) has called for a ban on investor citizenship and residence schemes across Europe, saying they pose serious risks of security, money laundering and tax evasion. The EESC endorsed a recent report of the European Parliament which also called for an end to… Read More
19th November 2019
For years, banks in three Eastern European countries were stripped of assets by their owners using a blunt but efficient scheme made possible by Meinl Bank, a venerable Austrian financial institution that lost its license last week. Hundreds of millions of euros were siphoned out of Ukraine, Latvia and Lithuania,… Read More
19th November 2019
Bank of Valletta has been fined a total of €57,500 in two cases involving breaches of its anti-money laundering obligations. A notice published on the Financial Intelligence Analysis Unit’s (FIAU) website says that, in the first case, BOV failed to flag how a factory worker who was later unemployed continued… Read More
19th November 2019
For years, University of Miami professor and author Bruce Bagley served as a go-to quote for reporters writing about crime in the Americas. He spoke authoritatively on violent Mexican drug cartels, guerrilla politics in Colombia and violence in Haiti. But Bagley, the feds say, parlayed his mastery of Latin American… Read More
19th November 2019
Estonia’s Financial Supervision and Resolution Authority said on Monday it was dropping an investigation into Swedbank’s (SWEDa.ST) Estonia unit as the probe was now a criminal proceeding being handled by the country’s prosecutor. “The Financial Supervision Authority launched a sanction proceeding on October 28 to investigate the signs… Read More
19th November 2019
The Vatican said on Monday the head of its financial regulator would leave, weeks after unprecedented police raids on his organization and another key arm of the Catholic Church’s bureaucracy. Rene Bruelhart, a 47-year-old Swiss lawyer, told Reuters he had resigned from the top job at the Financial Information Authority… Read More