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Portugal probes Angola leaks as Eurobic bank distances itself from dos Santos

Portuguese authorities said on Monday they had started investigating media reports concerning Angolan billionaire Isabel dos Santos, while a small bank said it had decided to put an end to commercial relationships with entities she controls. This was the latest fallout from increased scrutiny of Angola’s former first daughter, a… Read More

Israeli crime boss arrested on suspicion of laundering half a billion shekels

The head of a crime organization in the south of the country and 35 of his associates have been arrested on suspicion of running a massive money laundering operation worth a half a billion shekels (approximately $150 million). According to a report by Channel 13 news on Friday, the network… Read More

Private war in Libya funded via Scots firms

A convicted arms dealer branded a “merchant of death” used Britain’s most notorious form of ghost company to finance a private air war in Libya, The Times can disclose. Rami Ghanem supplied mercenaries to fly and maintain fighter-bombers for one of the local militias battling for scraps of the fractured… Read More

17th January 2020

UK seeks to confiscate convicted Nigerian politician’s loot

A British prosecutor launched a fresh attempt on Thursday to confiscate tens of millions of pounds stolen from an oil-producing state in Nigeria by its former governor, who was convicted of laundering his loot in Britain. James Ibori, who was governor of Delta State from 1999 to 2007, pleaded guilty… Read More

17th January 2020

PayPal offers up financial data to combat human trafficking

PayPal Holdings Inc will share its financial data with a leading advocacy group in the United States to try and stop human traffickers from moving funds on the digital money transfer platform. Human traffickers often force people into modern slavery which generates around $150 billion a year in illegal profits,… Read More

17th January 2020

Lebanon central bank asks banks to review politicians’ transfers: circular

Lebanon’s central bank has asked banks to review transfers of funds abroad by politicians and government employees between Oct. 17 and Dec. 31, when anti-government protests led banks to enforce informal capital controls that blocked such transfers. The move appeared to be a step towards probing movements of money out… Read More

15th January 2020

Hungary rule on NGOs’ financing seen in conflict with EU law

AP — Restrictions imposed by Hungary on the financing of non-governmental organizations from abroad are incompatible with European Union law, according to an opinion issued Tuesday by the bloc’s highest court. In 2017, Hungary adopted legislation forcing NGOs receiving foreign funding of more than 7.2 million forints ($24,000) a year… Read More

14th January 2020

Unreal Estate

Family members and close associates of Mihajlo Perenčević, a wealthy Croatian businessman with ties to Russian President Vladimir Putin, received millions of dollars from Russia under the guise of fictitious real estate purchases. The funds were deposited in the recipients’ personal bank accounts in Austria, thereby possibly evading Croatian money… Read More

14th January 2020

Getting the Economic Crime Plan Done: Why Economic Crime Matters for Johnson’s ‘Global Britain’

The UK’s first ever cross-government, public-private Economic Crime Plan, a collection of policy, legislative and operational commitments, was published just days before the passing of the baton from Theresa May to Boris Johnson. In this respect, the plan could be viewed as a cuckoo in Prime Minister Johnson’s policy… Read More

14th January 2020

Luxembourg’s financial crime watchdog bemoans lack of firepower

Five years after the LuxLeaks revelations, the fight against white collar crime is failing to take off, according to the magistrates in command. This is due to a lack of qualified staff and the increasing complexity of financial transactions. The two men in charge of the fight – Patrick Konsbruck, deputy… Read More

13th January 2020

Cross-border transactions face EU anti-money laundering overhaul

Incoming EU-level reforms to anti-money laundering laws are set to take legal effect on January 10, introducing new requirements for banks handling transactions linked to high-risk countries. EU member states are expected to write the 5th Anti-Money Laundering Directive (5AMLD) into national law by the end of this week, tightening… Read More

10th January 2020

Iran’s millionaire mullahs, the military, and the fight for foreign currency

The Islamic Revolutionary Guard Corps (IRGC), which along with the regular military (Artesh) comprises the armed forces of Iran, is an economic heavyweight in the country. Most experts agree that it controls at least a third of the Iran’s economy through a variety of business subsidiaries and religious foundations. The… Read More

10th January 2020

Tricked Into the Migrant Trade

It was the middle of a typically cold Ukrainian winter, and Valerii Berezkin, a balding, middle-aged mechanic, was in debt and needed cash. Then, in a billiards hall in the city of Cherkasy, a man approached him with a tempting offer: He could travel to Turkey and make money ferrying… Read More

Must Read

Portugal probes Angola leaks as Eurobic bank distances itself from dos Santos

UK SARs fall from key company formation agents

Luxembourg’s fund sector faces risk of abuse

Australia’s Packer to face powerful Crown probe into alleged money laundering

Facebook’s ‘Failed’ Libra Cryptocurrency Is No Closer to Release