24th January 2020
Although a criminal complaint implicating Austrian banks in money laundering was filed in February 2019, authorities in Vienna never launched an official investigation into the allegations that mainly target Raiffeisen Bank International, the Austrian weekly news magazine profil said on Monday. The complaint was brought forward by investment fund… Read More
24th January 2020
Dutch regulators say the country’s trust industry is failing to properly control the type of shell companies used by Isabel dos Santos, Africa’s richest woman, who is accused of bilking millions of dollars from companies in her native Angola. The country’s trust offices, which help establish and manage Netherlands-based businesses… Read More
23rd January 2020
Africa’s richest woman, Angola’s Isabel dos Santos, has been named as a formal suspect in a criminal investigation, the country’s attorney general is reported to have announced. Dos Santos amassed a fortune estimated at $2.2bn (£1.7bn) while her father, José Eduardo dos Santos, was president of Angola. She is… Read More
23rd January 2020
The global chairman of PwC has warned that heads could roll at the professional services firm over its links to Isabel dos Santos, Africa’s richest woman, who is battling allegations that she obtained her wealth through corruption and nepotism. Bob Moritz, whose firm advised companies belonging to Dos Santos… Read More
23rd January 2020
A year-long crackdown on Latvian banks’ reputation for money laundering and sanctions dodging appeared to have paid dividends January 22 with official recognition of its success from an important international organization. The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL is a… Read More
23rd January 2020
A total of 237 Maltese taxpayers had featured in the Panama Papers leak, yet the police never carried out a comprehensive probe into all those individuals and companies named. One senior police source said the bulk of the investigations were carried out by the Inland Revenue Department in an administrative… Read More
23rd January 2020
At a lavish August gathering at a private estate in Spain, a wealthy Venezuelan businessman under criminal investigation in the United States introduced Rudy Giuliani, President Donald Trump’s personal lawyer, to the father of Venezuela’s opposition leader, Juan Guaido. The affair was part of a campaign for leniency for the… Read More
23rd January 2020
The Swedish Gambling Authority (SGA) has taken a stance against money laundering and petitioned the Ministry of Finance to increase the maximum penalty of the gambling operators in violation of the Money Laundering Act. The Authority argued that, given the turnover of the larger gambling operators licensed in Sweden,… Read More
23rd January 2020
A number of European Union countries failed to meet a Jan. 10 deadline to fully apply strict new measures against money laundering, compounding the bloc’s challenge in weeding out dirty money. The European Commission, the EU’s executive arm, is preparing to launch so-called infringement procedures next month to… Read More
22nd January 2020
Seven people have been arrested following a major police operation against money laundering in Northern Ireland. A senior detective has described it as “one of the most significant live investigations into money laundering in the UK” involving £215 million. Six men and one woman were detained after 15 searches at… Read More