29th July 2020
A Malaysian court on Tuesday found Najib Razak, the country’s former prime minister, guilty of corruption on charges stemming from the disappearance of $4.5 billion from a government investment fund he once controlled. The trial, the first of several related to the pilfering of funds from the 1 Malaysia… Read More
28th July 2020
A Mastercard executive allegedly was involved in a money-laundering operation at a bank accused of terrorist financing and organised crime that had links to Wirecard, the disgraced German payments group. A report commissioned by the owners of FBME Bank in Cyprus uncovered evidence of apparent criminal activity, including an… Read More
27th July 2020
By the time Dartanyon Williams was 15-years-old, he was already an identity thief. At 19, he had begun to recruit accomplices twice his age to help build a criminal enterprise that ultimately netted him $3.1 million before his eventual arrest. What had begun as rudimentary payment card fraud using his father’s… Read More
24th July 2020
One website advertised dog products. Another advertised flowers; another, home decorations. All of them were really fronts to process payments for marijuana or designer drugs, prosecutors said. The Justice Department and the Federal Trade Commission have recently brought a string of criminal and civil cases accusing individuals and companies of… Read More
23rd July 2020
Two remittance companies have been fined a total of $7.5 million for breaching laws to prevent money laundering. The Auckland High Court has fined Auckland-based OTT Trading Group Ltd $3.1m and Christchurch-based MSI Group Ltd $4.4m. The penalties resulted from civil proceedings by the Department of Internal Affairs taken under… Read More
23rd July 2020
Britain has left it too late to untangle the web of Russian influence that permeates the upper ranks of the political and business establishment, the Russia report claims. Wealthy and powerful Russians — some linked to President Putin, others who have fled his regime — are deeply entrenched in… 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
20th July 2020
Zimbabwe’s police have accused Econet Wireless Ltd., the country’s dominant mobile phone company, of money laundering, demanded a list of its subscribers and issued a search warrant against it. The move escalates a clash between the government and company whose money transfer service facilitates the bulk of transactions in the… 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
10th July 2020
German prosecutors are looking into possible money laundering by executives at Wirecard AG, adding to ongoing probes related to potential fraud and fake accounting at the insolvent payments firm. A spokeswoman for the Munich public prosecutor said it was conducting several legal cases related to possible money laundering… Read More