15th May 2019
Bulgarian Agriculture Minister Rumen Porozhanov resigned on Tuesday, the latest high-level official to step down in scandals involving purchases of luxury properties and the building of guest houses with EU aid for private use. Porozhanov quit two weeks after prosecutors launched a large-scale probe into possible fraud with EU rural… Read More
14th May 2019
Pakistan will implement fiscal and regulatory reforms, including strengthening its controls against financial crime, as part of a 3-year, $6 billion bailout agreement reached with the International Monetary Fund (IMF), the organization said Sunday. The staff-level agreement, which has yet to be approved by the IMF’s board, would seek to… Read More
14th May 2019
The European Commission said on Monday it would take legal action against Romania unless it reversed measures that undermine the independence of its courts and the fight against corruption. The executive Commission, which is the guardian of the EU treaties, has repeatedly said laws introduced by Romania’s ruling Social Democrats… Read More
13th May 2019
AP — Chinese prosecutors indicted former Interpol president Meng Hongwei on Friday on charges of accepting bribes, the latest development in a case that began with his disappearance while on a journey to Beijing. The announcement from the prosecutor’s office in the northeastern city of Tianjin said Meng had… Read More
10th May 2019
The European Union warned Romania on Thursday it could face firmer action over the government’s legal changes that the bloc has said threaten the rule of law. The EU’s executive European Commission has repeatedly said laws brought in by Romania’s ruling Social Democrats – including moves to reduce statutes of… Read More
10th May 2019
Brazilian lawmakers dealt a blow to the country’s graft-busting Justice Minister Sergio Moro on Thursday, when a congressional committee voted to transfer a key tool for monitoring financial transactions to the recently-formed Economy Ministry. The lawmakers also voted to reverse President Jair Bolsonaro’s decree giving the Agriculture Ministry power to… Read More
9th May 2019
The UK’s Financial Conduct Authority (FCA) is increasingly turning to machine-learning technology to identify companies and individuals that launder money and pose other risks to the financial sector, an official said Wednesday. As part of that effort, the FCA is backing the development of technical solutions, particularly in relation to… Read More
8th May 2019
While Britain debates the merits of a second Brexit referendum, London’s financial centre is steering clear of the argument, resigned to the need to shift some business elsewhere. Burned by backing the ill-fated Remain campaign three years ago, major global and British banks told Reuters they would shy away from… Read More
8th May 2019
Hundreds of thousands of UK companies have exploited loopholes and lax regulatory enforcement to circumvent rules on reporting their beneficial owners, a British watchdog group said Monday. A study by London-based Global Witness found that the number of corporations that have reported to the UK Companies House… Read More
7th May 2019
Iran will restart part of its halted nuclear program in response to the U.S. withdrawal from a landmark 2015 nuclear deal but does not itself plan to pull out of the agreement, the state-run IRIB news agency reported on Monday. Citing a source close to an official commission which oversees… Read More