12th February 2020
Bank of San Juan Internacional Inc. agreed to pay $1 million to resolve a federal investigation into alleged money laundering, the U.S. Department of Justice said. Prosecutors alleged that the San Juan, Puerto Rico-based bank laundered millions of dollars related to transactions and loan agreements with Venezuela’s state-owned oil giant,… Read More
12th February 2020
North Korea’s decision to shut the border with China to avoid the coronavirus will set back its nascent economic recovery, renewing pressure on Kim Jong Un to return to nuclear negotiations with Donald Trump. A jump in fuel prices, a dip in port activity and the suspension of train and… Read More
12th February 2020
Hong Kong’s SFC (Securities and Futures Commission) has reprimanded and fined BMI Securities HKD 3.7 million (USD 477,000) for failures in complying with AML/CFT regulatory requirements. In 2016, a number of BMI clients subscribed for the placing shares of two Hong Kong-listed companies – Bank of Jinzhou and Yadea Group… Read More
12th February 2020
Fugitive financier Low Taek Jho faces new charges in Malaysia along with PetroSaudi International directors Tarek Obaid and Patrick Mahony over their alleged roles in the 1MDB scandal. The three are accused of engaging in criminal conspiracy with Malaysia’s former Prime Minister Najib Razak, while Mahony and Obaid face additional… Read More
12th February 2020
Ghana is seeking to prosecute a former finance minister, industry regulator and deputy central bank governor in a bid to stamp out alleged collusion with company executives that helped contribute to the West African nation’s biggest banking crisis. The former officials are being charged along with nine other banking executives… Read More
12th February 2020
AP — Honduran authorities arrested the head of the national police Tuesday, accusing him and his wife of money laundering. Officials arrested Leonel Luciano Sauceda and his wife, Patricia Sbeltlana Estrada, on money laundering charges. They said in a statement that the couple was arrested at a home in Tegucigalpa,… Read More
12th February 2020
Former Indian billionaire Vijay Mallya returned to a London court to fight extradition to his home country to face fraud and money-laundering charges. The tycoon’s lawyers said at a hearing Tuesday that a previous ruling to send him back to India ignored evidence and simply misunderstood the circumstances that ultimately… Read More
12th February 2020
The taxman is investigating 30 companies, including big corporations, under sweeping powers to clamp down on tax dodging, The Times has learnt. Nine criminal inquiries have been opened by the high-level fraud unit of Revenue & Customs (HMRC) while 21 other firms are being assessed for failing to prevent… Read More
11th February 2020
Brussels is clamping down on 82 free ports or free zones after identifying that their special tariff and duty status has aided the financing of terrorism, money laundering and organised crime. A set of new rules was introduced by the European commission just weeks before the launch on Monday of… Read More
11th February 2020
North Korea continued to enhance its nuclear and ballistic missile programs last year in breach of United Nations sanctions, according to a confidential U.N. report seen by Reuters on Monday. The country also illicitly imported refined petroleum and exported some $370 million worth of coal with the help of Chinese… Read More