8th December 2017
KYC360 News British authorities have been urged to closely examine the role UK-based banks played in helping the South African-based Gupta family ‘launder money.’ The wealthy Gupta family are considered to be close friends of South African President Jacob Zuma. Lord Peter Hain told the House of Lords this week… Read More
8th December 2017
KYC360 News Australia has established its deferred prosecution agreement (DPA) scheme which will enable prosecutors and firms suspected of wrong doing to negotiate settlements instead of going through the trial process, said the Ministry of Justice. Under a DPA, firms would have to abide by certain conditions, such as payment… Read More
8th December 2017
KYC360 News A former lawyer who pleaded guilty to a multi-million dollar benefits fraud scheme and then disappeared from the authorities has been recaptured and sentenced to 12 years in prison. Eric Christopher Conn of Kentucky, and his alleged accomplice, Curtis Lee Wyatt, were charged in connection with Conn’s escape. Read More
7th December 2017
BBC One of President Donald Trump’s former aides texted an associate that US sanctions against Russia would be “ripped up”, a lawmaker says. Then-incoming national security adviser Michael Flynn also allegedly texted a business partner that a nuclear power project with Russians was “good to go”. The claims are detailed… Read More
7th December 2017
7 December 2017 By Joseph Menn, Dustin Volz, Reuters A 20-year-old Florida man was responsible for the large data breach at Uber Technologies Inc last year and was paid by Uber to destroy the data through a so-called “bug bounty” programme normally used to identify small code vulnerabilities, three people… Read More
7th December 2017
By Samburaj Das, Crypto Coin News South Korea’s National Tax Service (NTS) is pressing ahead with a framework to enforce taxes on cryptocurrencies including bitcoin. Run under the purview of Korea’s Ministry of Strategy and Finance, the National Tax Service is tasked to assess and collect internal taxes in the… Read More
7th December 2017
KYC360 News The use of artificial intelligence (AI) in bank compliance departments can be highly effective, however it has limitations and remains a work in progress, according to Rob Gruppetta, head of financial crime at the UK’s Financial Conduct Authority. Generally there has been a sharp interest in AI in… Read More
7th December 2017
KYC360 News A group of non-governmental organisations have filed a criminal complaint against oil giant Shell and its current and former European directors, calling on the Dutch government to investigate them for foreign corruption and complicity in money laundering in Africa’s largest economy. Shell is alleged to have purchased… Read More
6th December 2017
CNN President Trump has been tightening the screw on North Korea, ramping up sanctions and urging other countries to sever trade links with Kim Jong Un’s regime. But dozens of countries have violated international sanctions on Pyongyang in recent years, according to a new report by a Washington-based think tank. Read More
6th December 2017
AP A Brazilian businessman testified on Monday that he participated in a bribery scheme to buy the influence of FIFA soccer officials to win commercial rights to major tournaments, a decision he later regretted. “I made a mistake,” Jose “Jota” Hawilla said at the U.S. conspiracy trial of three… Read More