22nd July 2020
More muscle to prevent unsuitable individuals from working in the finance industry and strengthen the framework for technology risk management are among new proposals made by the Monetary Authority of Singapore (MAS) to deal with risks that can undermine the sector. It issued a consultation paper proposing such enhanced powers… Read More
22nd July 2020
A Swiss prosecutor leading a money-laundering inquiry into secret offshore accounts linked to the former king of Spain is investigating the source of funds used by his former lover to buy a £5.5 million house in London. The Eaton Square property was purchased by Corinna Sayn-Wittgenstein with money transferred… Read More
22nd July 2020
The cabinet, in its meeting scheduled for Tuesday, is set to give the go-ahead for a massive increase up to Rs100 million in fine on offenders involved in money laundering in a bid to implement the action plan agreed with the Financial Action Task Force (FATF). Draft amendments to the… Read More
22nd July 2020
The trial of a former boss of Petroleos Mexicanos threatens to expose years of alleged malpractice at the state oil company and provide a canvas for Mexico’s leftist president to depict rot at the heart of government that he has vowed to clean up. Once a symbol of Mexican self-reliance… Read More
22nd July 2020
The European Banking Authority will probe revelations contained in Luanda Leaks, an investigation led by the International Consortium of Investigative Journalists (ICIJ) into how billionaire businesswoman Isabel dos Santos made her fortune. Confirmation of the probe follows a demand by the European Parliament for the regulator to assess… Read More
21st July 2020
The former King of Spain is facing the growing prospect of a trial for money laundering after allegations that a secret Swiss bank account was used to pay for his holiday in Tahiti. Juan Carlos flew to the South Pacific island for a nine-day stay in January 2016. In October… Read More
21st July 2020
AP – The U.S. Justice Department has filed a series of lawsuits seeking to recover at least $104 million in funds allegedly embezzled by former officials in Kuwait’s Ministry of Defense. The seven lawsuits filed in U.S. District Court in Los Angeles claim the laundered funds were used to… Read More
21st July 2020
The United States has slapped additional sanctions on Chechen leader Ramzan Kadyrov “for numerous gross violations of human rights.” The U.S. State Department said on July 20 that for more than a decade the Moscow-backed leader of Russia’s North Caucasus region of Chechnya had been responsible for abuses including torture… Read More
21st July 2020
OCCRP – A new project that will be led by Europol and financed by the European Commission will help the EU’s eastern neighbours — Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine — fight organized crime. “Located along the Black Sea and forming part of the ‘heroin route’ from the… Read More
21st July 2020
New U.S. sanctions targeting the Syrian government appear to also undermine Hezbollah in Lebanon. Experts say the measures are alienating Hezbollah from its political allies in Lebanon and weakening its usage of state institutions to assist the Syrian regime. The sanctions, introduced on June 17 and known as the Caesar… Read More