21st July 2020
Around 10,000 defunct companies have been stricken off the Malta Business Registry, in another move intended to improve the island’s reputation. Companies were taken off the list when they failed to file annual reports or accounts or did not give official ownership information. Malta now has 96,000 companies on the… Read More
20th July 2020
Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people with knowledge of the matter. Bankers at Credit Suisse Group AG (… Read More
20th July 2020
Interior Minister Nicos Nouris said on Saturday he would purge 5,000 non-governmental organisations (NGO) in the coming weeks if they did not properly register with the government. He told the Cyprus Mail that the period of three years already granted to NGOs to properly register, plus the number of extensions… Read More
20th July 2020
The leaders of France, Germany and Italy on Saturday threatened for the first time to use sanctions against countries that continued to violate a United Nations arms embargo on Libya. French President Emmanuel Macron, German Chancellor Angela Merkel and Italian Prime Minister Giuseppe Conte urged “all foreign actors to end… Read More
20th July 2020
The United States on Friday imposed sanctions on another son of Nicaraguan President Daniel Ortega, accusing him of corruption and spreading propaganda in the latest effort by Washington to put pressure on the leftist government. The Treasury Department in a statement said it blacklisted Juan Carlos Ortega Murillo alongside Jose… Read More
20th July 2020
On July 8th, the Office of Foreign Assets Control (OFAC) announced a settlement agreement with Amazon.com, Inc (“Amazon”) for a large number of violations across a wide spectrum of OFAC’s sanctions programs (the agreement published by OFAC lists 14 sets of regulations and Executive Orders). While the total amount… Read More
17th July 2020
The European Union’s top court fined on Thursday Romania and Ireland for delays and incomplete application of the bloc’s rules against money laundering and terrorist financing, it said in a statement. Romania was ordered to pay to the European Commission a lump sum of 3 million euros, while Ireland was… Read More
17th July 2020
Germany’s top financial supervisor received detailed warnings about deceptive financial practices at Wirecard AG starting in 2008 but repeatedly declined to investigate the allegations, turning instead against the accusers. Over more than a decade, investors, U.S. authorities, journalists and people close to the company warned of possible fraudulent accounting… Read More
17th July 2020
The Board of the Financial and Capital Market Commission (FKTK) on July 14 2020 decided to apply a fine of EUR 906,610 euros to Signet Bank for breaches of the anti-money laundering and counter terrorism and proliferation financing (AML) regulatory requirements, FKTK said in a news release July 16. Signet… Read More
17th July 2020
A unit of a U.K. tobacco firm agreed to pay a $666,000 penalty to resolve criminal charges that it facilitated sales to North Korea, in the first such case against a company for violating U.S. sanctions on Pyongyang. The United Arab Emirates-based Essentra FZE Co. Ltd., which is a subsidiary… Read More