28th September 2017
Philippine President Rodrigo Duterte welcomes an investigation by the state’s anti-corruption agency into allegations by a senator that he failed to disclose his wealth when he was a city mayor, his spokesman said on Wednesday. The Office of the Ombudsman confirmed on Tuesday it has initiated an inquiry into activities… Read More
28th September 2017
Singapore will increasingly make use of technology and data analytics to detect and combat transnational crime and money laundering, Deputy Prime Minister Teo Chee Hean said on Thursday (Sep 28). Speaking at the Institute of Singapore Chartered Accountants’ financial forensic conference, Mr Teo said that the two key risks all… Read More
28th September 2017
A Manhattan court dismissed a $250 million civil tax fraud case against Russian-American businessman Felix Sater on Wednesday, Business Insider has learned. The civil tax-fraud case against Sater, a former associate of President Donald Trump, and the real-estate company he cofounded, Bayrock, was being prosecuted as a qui tam case,… Read More
27th September 2017
Prosecutors in Germany carried out searches in connection with an investigation of about 2,000 UBS Group AG clients on suspicion of tax fraud, extending a series of probes into its customers that stretch back at least five years. The actions began Tuesday with around 130 investigators involved, prosecutors for the… Read More
27th September 2017
A buried 2016 report that flagged potential money laundering at Richmond’s River Rock Casino Resort is now attracting the attention of Canada’s financial intelligence unit. The Financial Transactions and Reports Analysis Centre (FINTRAC) has said it “is reviewing the report, on which it was not consulted, to determine whether any… Read More
27th September 2017
Finance Minister Wolfgang Schaeuble will be the new president of the Bundestag, German media reported on Wednesday. Figures from Chancellor Angela Merkel’s Christian Democrats and their Bavarian allies in the Christian Social Union told reporters from the German press agency and the mass-circulation daily Bild that Schaeuble would likely… Read More
27th September 2017
In a series of bombshell allegations of wire fraud, conspiracy and bribery, the US Justice Department has made plain the illicit flow of money from global corporations and would-be managers to talented teenagers. The investigation has led to charges against 10 individuals, including Adidas executive Jim Gatto, financial advisers,… Read More
27th September 2017
South Africa’s largest trade union went on strike Wednesday, threatening to “shut down the country” as it protested against corruption in the ruling African National Congress (ANC) party. The Congress of South African Trade Unions (COSATU) mobilized strike action nationwide, including in the capital Pretoria and economic hub Johannesburg. Read More
27th September 2017
Regulators in the United States and Europe have imposed $342 billion of fines on banks since 2009 for misconduct, including violation of anti-money laundering rules, and that is likely to top $400 billion by 2020, a research report said on Wednesday. Pending cases involving missteps in the US mortgage market… Read More
27th September 2017
The Serious Fraud Office (SFO) has confirmed it will bring charges against the ex-chief executive and chief operating officer of Afren, the former FTSE 250 oil and gas company that collapsed into administration in 2015. Osman Shahenshah and Shahid Ullah will appear at Westminster Magistrates Court tomorrow to be charged… Read More