10th January 2018
An accountant, his wife and their financial adviser are due to stand trial for their alleged roles in laundering nearly $2.5m (£1.84m) from the Government of Bermuda. Jeffrey Bevan, 50, from Cwmbran, his wife Samantha Bevan, their friend, Joel Ismail, and financial adviser Paul Charity deny all the charges against… Read More
10th January 2018
The European Union could treat some British financial regulation as equivalent to EU law after Brexit, but would not give financial firms a general “passport” to do business in the single market, the EU’s chief Brexit negotiator said on Tuesday. In a speech at a Belgian business event, Michel Barnier… Read More
10th January 2018
A Hong Kong ivory trader fined this week for illegal ivory possession sits on a government advisory group for protecting endangered species, records showed on Wednesday, potentially an embarrassing blow as Hong Kong fights ivory smuggling. Lau Sai-yuan, a member of the Chinese General Chamber of Commerce and the Hong… Read More
9th January 2018
German and Italian police have detained scores of people with alleged ties to the ‘Ndrangheta mafia. The suspects formed part of a transnational network involving bakeries, funeral services and vineyards, police said. Authorities in Germany and Italy busted a ‘Ndrangheta mafia clan on Tuesday, detaining scores of suspects and seizing… Read More
9th January 2018
Singapore: The Attorney-General’s Chambers (AGC) is seeking the assistance of other authorities in the investigation into the Keppel Offshore and Marine (Keppel O&M) bribery and corruption scandal, Senior Minister of State for Finance and Law Indranee Rajah told Parliament on Monday (Jan 8). Most of the documents and testimony attesting… Read More
8th January 2018
Korean financial authorities plan to launch a special investigation into local banks that provided accounts to cryptocurrency exchanges as part of government efforts to prevent cryptocurrencies from being used in illegal financial activities and curb speculative investment. The Financial Intelligence Unit, a body under the Financial Services Commission that monitors… Read More
8th January 2018
South Africa’s parliament said on Sunday it would review its rules relating to removing the country’s president, after the constitutional court said on 29 December that lawmakers had previously failed to hold President Jacob Zuma to account. The court ruling has piled pressure on Zuma and his allies as his… Read More
5th January 2018
A staggeringly high number of market trading watchdogs associate digital currencies with criminal activity, according to research by the North American Securities Administrators Association (NASAA). NASAA said its survey of state and provincial securities regulators shows that 94% of them believe there is a “high risk of fraud” involving cryptocurrencies. Read More
5th January 2018
Britain’s gambling watchdog has launched a crackdown on the sector after a review raised serious concerns pertaining to financial crime. Following its thematic review of the sector, the Gambling Commission decided to write to all online casinos, outlining what it expects of them regarding tackling money laundering and meeting their… Read More
5th January 2018
More than £3 million in funds were frozen on the Island by law enforcement agencies between 2016-17, after suspicions of money-laundering. The figure has been revealed in the Financial Intelligence Unit’s annual report for that year, which will go before Tynwald this month. It comes after the body’s first… Read More