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
When the trial for the last of five defendants in the Washakie Renewable Energy case starts this week, jurors can expect to hear about a Utah polygamous sect, bribery, and how proceeds of a $511 million biofuel fraud were laundered into ritzy homes, expensive cars and Turkish industries. Lev… Read More
28th January 2020
Malta’s foremost business lobby is “greatly concerned” with the country’s latest classification in the annual corruption perception index and has called on the new prime minister to address “allegations” concerning major contracts awarded by the government over the past seven years. Many major projects spearheaded by the Labour government, including… 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
Cypriot police are nearing the end of their probe into the allegedly fraudulent recapitalization of an insurance company that collapsed in 2018, leaving more than 200,000 drivers mainly in Bulgaria without coverage, and unpaid claims of 44.8 million euros. But an investigation by OCCRP and its Bulgarian member center, Bivol,… 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