20th August 2019
Australians could face two-year jail sentences and fines of up to $25,200 under proposed laws that limit the use of cash to $10,000 — a move some groups argue would create an Orwellian state by giving authorities greater control over people’s finances. A number of stakeholders have called on the… Read More
20th August 2019
The Saskatchewan government is set to introduce amendments to protect against criminal acts like money laundering— even if it’s a bit late. Money laundering is estimated to be worth $6.5 billion across Saskatchewan and Manitoba alone, according to a report from former B.C. attorney general and Simon Fraser University professor, Maureen… Read More
20th August 2019
The Trump administration’s Justice Department has again taken President Donald Trump’s side in a fight between him — as a private citizen — and the US House of Representatives over subpoenas for his personal financial records. The Justice Department argues the two banks shouldn’t have to hand over the subpoenaed… Read More
20th August 2019
China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South American exporter, three sources with direct knowledge of the matter told Reuters on Monday. The Trump administration in early August froze all Venezuelan government assets in the United… Read More
20th August 2019
The European Commission will revisit plans to publish a list of non-EU jurisdictions deemed to be particularly vulnerable to money laundering, an official from the economic bloc told the Financial Times. The incoming commission is expected by October to unveil an overhauled methodology on how to draft the blacklist of… Read More
19th August 2019
The nation’s anti-money laundering regulator warns it is likely to take more action against Australia’s top financial institutions after being “flooded” with reports of potential breaches following its landmark case against the Commonwealth Bank. Austrac chief executive Nicole Rose said the 2017 case against CBA over its mass breach of… Read More
19th August 2019
The first people charged with crimes in the United States arising from the Panama Papers investigation will face trial in January 2020, according to new court filings. The trial, in New York’s Southern District, will begin almost four years after the International Consortium of Investigative Journalists and more than 100… Read More
19th August 2019
Malaysia’s former prime minister, Najib Razak, on Monday faces the biggest of five trials linked to a multi-billion-dollar scam at state fund 1MDB, although lawyers are seeking a delay to allow time for the completion of a previous trial. Najib, who lost a general election last year, has been hit… Read More
19th August 2019
Newly released U.S. court documents show the United States issued a warrant for the seizure of an Iranian tanker that British Royal Marines had seized last month in Gibraltar, citing evidence that it was transporting oil to Syria in violation of U.S. sanctions. The oil tanker Grace 1, the more… Read More
19th August 2019
Andrea Vella was Goldman Sachs’s top dealmaker in Hong Kong. He had a nose for splashy trades, a fondness for the Bentley Continental, and a vague enough resemblance to George Clooney that there was even a joke among some bankers: “What would George do?” That was almost a year ago. Read More