13th July 2020
The trio of clients that got Deutsche Bank AG in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase and Co. Deutsche Bank moved millions of dollars across the globe for convicted sex offender Jeffrey Epstein in the past decade,… Read More
10th July 2020
German prosecutors are looking into possible money laundering by executives at Wirecard AG, adding to ongoing probes related to potential fraud and fake accounting at the insolvent payments firm. A spokeswoman for the Munich public prosecutor said it was conducting several legal cases related to possible money laundering… Read More
10th July 2020
The United States on Thursday imposed sanctions on the highest ranking Chinese official yet targeted over alleged human rights abuses against the Uighur Muslim minority, a move likely to further ratchet up tensions between Washington and Beijing. Washington blacklisted Xinjiang region’s Communist Party Secretary Chen Quanguo, a member of China’s… Read More
10th July 2020
The City regulator has warned non-bank payments businesses that serve millions of consumers and small businesses that they face a crackdown over a series of failings. The Financial Conduct Authority told chief executives of regulated payment service providers and electronic money businesses that they must strengthen the way in… Read More
10th July 2020
The Kremlin has said it will impose retaliatory sanctions on the UK after Dominic Raab announced Magnitsky Act-style measures against individuals in Russia, Saudi Arabia, Myanmar and North Korea. Britain’s post-Brexit sanctions, which are designed to stop the laundering of “blood money”, targeted 20 Saudis and 25… Read More
10th July 2020
The Ministry of Home Affairs on Wednesday announced it has set up an inter-ministerial committee to probe into alleged violation of various legal provisions by Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gandhi Memorial Trust. A Special Director of the Enforcement Directorate (ED) will head the committee. “MHA… Read More
10th July 2020
By David Leask and Richard Smith, openDemocracy, 8 July 2020 openDemocracy – COVID is killing cash. Even as lockdowns loosen, consumers are turning away from notes and coins like never before. A survey in April found four out of five Britons – many forced to do all their shopping online… Read More
9th July 2020
The second edition of an influential handbook on the U.S. Foreign Corrupt Practices Act incorporates nearly eight years of developments in the antibribery law. It also clarifies the government’s view on controversial aspects of the statute’s enforcement. The U.S. Department of Justice and U.S. Securities and Exchange Commission released the… Read More
9th July 2020
Police in Miami on Wednesday arrested the former governor of the Mexican state of Chihuahua, Cesar Duarte, who is wanted on corruption charges in his homeland, U.S. and Mexican officials said. Duarte, who governed the northern border state from 2010 to 2016, has been accused by Mexican authorities of misappropriating… Read More
9th July 2020
The Justice Department is examining whether scandal-plagued German payment company Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, according to people familiar with the investigation. Two businessmen have already been charged in the alleged fraud, accused of… Read More