13th October 2016
Britain will give law enforcement agencies the power to force suspected criminals to explain the source of their wealth under new legislation published on Thursday. The government said the Criminal Finances Bill, which is subject to parliament’s approval, would introduce “unexplained wealth orders”, under which those who are not able… Read More
13th October 2016
The Maldives has announced it will leave the Commonwealth after mounting pressure from the 53-nation group over corruption and deteriorating human rights in the Indian Ocean state. The country’s government, which has been fending off rumours of an impending coup and allegations of money laundering, said the decision on Thursday… Read More
13th October 2016
Minister for Finance Michael Noonan has taken aim at the use of offshore accounts to avoid tax, pledging to make it a criminal offence for individuals who fail to disclose accounts or other assets held in tax havens from next year. “The release of the so-called Panama Papers… Read More
13th October 2016
The Zimbabwe Investment Authority (ZIA) says the country lost potential investments worth nearly $3 billion in 2015 as a result of bureaucracy and corruption. The multimillion agreement with the Essar to revive the Zimbabwe Iron and Steelworks (Ziscosteel) was killed by corrupt elements in government, according to ZIA chairman Nigel… Read More
12th October 2016
The Mexican governor of the Gulf state of Veracruz said on Wednesday he would resign just weeks before his term ends in order to face corruption charges that have become an embarrassment for the country’s ruling party. Javier Duarte, from the ruling Institutional Revolutionary Party (PRI), denied taking “one cent”… Read More
12th October 2016
A local government has encouraged Ghanaians to report cases of corruption and stealing of public funds to the appropriate quarters without fear or favour. Mr Fred Oduro, lecturer and resource person from the Institute of Local Government Studies (ILGS), Madina in Accra, made the call on Tuesday when he lectured… Read More
12th October 2016
South Korea is considering unilateral sanctions against rival North Korea in response to the latter’s recent nuclear test, the fifth and the most powerful so far. Seoul will reportedly go ahead with its set of sanctions if the United Nations delays adoption of a resolution against the reclusive state. The… Read More
11th October 2016
South African prosecutors on Tuesday ordered Finance Minister Pravin Gordhan to appear in court on Nov. 2 over allegations he broke public finance rules by granting a colleague early retirement, news that sent the rand and share prices reeling. The currency dropped as much as 3.4 percent against the dollar… Read More
11th October 2016
Prime Minister Andrew Holness has called on the financial sector to ensure a regulatory environment that removes profitability from criminal activities. “We must take the profit out of crime. Criminals must have no access to the financial system; and where they operate in the informal economy and the backwaters of… Read More
11th October 2016
China appears to have pushed back on a U.S. bid to close a U.N. loophole that allows North Korea to export coal for “livelihood purposes,” saying the well-being of North Koreans is a priority in negotiations on possible new U.N. sanctions on Pyongyang. Since North Korea’s fifth and largest nuclear… Read More