Featured Money Transfer

A criminal asked to design our anti-money laundering laws would probably keep the ones we’ve got

By Ronald F Pol, La Trobe University Money laundering rarely gets as literal as the case in Thailand last week, where police raided homes of a ring suspected of laundering a billion baht (about A$48 million) of drug proceeds and found millions stashed in a washing machine. Stories… Read More

Global watchdog keeps Pakistan on terrorism financing ‘gray list’

A global finance watchdog kept Pakistan off its terrorism financing blacklist on Friday but warned Islamabad it only had until February to improve or face international action. The Paris-based Financial Action Task Force, which tackles money laundering, said it was concerned that Pakistan had failed to complete the action plan… Read More

Anti-Money-Laundering Watchdog Puts More Pressure on Iran

A global anti-money-laundering watchdog is increasing pressure on Iran to meet its standards while giving the country more time to do so. The Financial Action Task Force, a Paris-based intergovernmental body that sets standards for anti-money-laundering and counterterrorism financing rules, also added three other countries to its blacklist of jurisdictions… Read More
21st October 2019
AP — Federal law enforcement officials in Oregon say they’ve uncovered an elaborate scheme to convert Mexican drug profits from sales in the United States back into pesos using Chinese citizens who seek to circumvent their country’s banking laws. The Mexican drug cartels are taking advantage of the… Read More
21st October 2019
Mongolia has been included on a list of countries monitored by an international agency that polices anti-money laundering activities and terrorism financing. Joining Mongolia as additions on the Financial Action Task Force’s watch list were Iceland and Zimbabwe, according to a FATF statement released by email Friday from Paris. “Each… Read More
18th October 2019
Backed by longtime ally China, Pakistan is confident it will avert blacklisting over terrorism financing by a global watchdog on Friday but it will not be completely off the hook until it proves it is genuinely severing ties with Islamist militants, officials and analysts said. The Financial Action Task Force… Read More
18th October 2019
Technology and data have transformed the way we live, work and play. So far, the outcomes have been mixed. While we are undoubtedly more connected and better informed, we’re simultaneously more anxious about the pace of change and our personal privacy. And rightly so. Last year’s Cambridge Analytica scandal… Read More
18th October 2019
In 2011, Pakistan’s finance minister gave a budget speech to the National Assembly, explaining that the country’s ratio of tax revenue to GDP, at 9.2 percent, was ranked lower than that of all but 1 of 154 jurisdictions. In a country of 180 million, just 1.2 million people and firms… Read More
17th October 2019
Goldman Sachs has been negotiating with the Malaysian authorities to drop criminal charges against three of its subsidiaries in connection with three bond issues by 1Malaysia Development Berhad, or 1MDB. The government is seeking $3.3 billion in compensation from the U.S. investment bank, accusing it of helping a Malaysian businessman… Read More
17th October 2019
After repeated appeals to President Trump by Turkey’s president to avoid charges against a state-owned Turkish bank, Attorney General William P. Barr oversaw an effort earlier this year to negotiate a settlement with the bank, two people with knowledge of the matter said. The settlement push abruptly ended on Tuesday… Read More
17th October 2019
Understanding why Hezbollah has deep roots in the drug trade requires a historical view of Lebanon. Read More
17th October 2019
AP — Pakistan is trying to avoid getting blacklisted by the Financial Action Task Force, a global watchdog, when it meets Wednesday in Paris. Read More
15th October 2019
The withdrawal of Deutsche Bank from five eurozone countries, including Malta, shows the European Banking Union needs to up its game in the fight against money laundering, Sven Giegold said. The MEP said it was “an embarrassment” for the EBU when credit institutions withdraw from euro countries because of money… Read More