30th June 2020
Every year, millions of dollars in cash enters and exits Canada stuffed inside envelopes, shirt pockets and bags. But only a tiny fraction is moved by criminals. The rest is transported by average Canadians and visitors who are taking $10,000 or more into or out of the country. Since 2017,… Read More
26th June 2020
Pakistan received another extension on the “greylist”, as the Financial Action Task Force (FATF) plenary session on Wednesday decided to continue all countries under scrutiny for Terror Financing and Money Laundering until October 2020. However, Islamabad faced setbacks on other fronts, with the United States slamming its record on terrorism,… Read More
26th June 2020
AP — Police in Thailand say they have broken up a money-laundering ring that transferred a total of 10 billion baht ($323 million), much of it linked to drug trafficking. A Chinese businessman arrested in Bangkok, Qaing Ma, is believed to be a key figure in the operation, police Maj. Read More
26th June 2020
Kenya will extend various relief measures on mobile phone payments that were introduced to help to curb the spread of the new coronavirus by a further six months, the central bank said on Wednesday. The East African country introduced the measures to encourage cashless payments on mobile phones because the… Read More
25th June 2020
Wirecard’s (WDIG.DE) former boss has been arrested on suspicion of falsifying its accounts, after the German payments firm disclosed a $2.1 billion financial hole and questioned whether trustees had actually held money on its behalf. Markus Braun turned himself in on Monday night after Munich prosecutors issued a warrant… Read More
24th June 2020
BaFin (Germany’s Federal Financial Supervisory Authority) is under fire for failing to properly respond to multiple red flags related to an accounting fraud at Wirecard, a German payments firm which now appears to have misplaced EUR 1.9 billion. Last Thursday (18 June), Wirecard revealed that it was unable to… Read More
24th June 2020
The Financial Markets Authority is taking a company to court over nearly $50 million worth of transactions that it alleges breached the anti-money laundering act. The authority has filed proceedings in the High Court at Auckland against CLSA Premium New Zealand Ltd, formerly KVB Kunlun New Zealand Ltd. CLSAP NZ… Read More
23rd June 2020
Wirecard said on Monday that 1.9 billion euros ($2.1 billion) missing from its accounts was likely never there and it was looking at the sale or closure of parts of its business as it sought to avert a looming cash crunch. The former German stock market darling, which processes payments… Read More
19th June 2020
Kyrgyz lawmakers have approved the findings of a parliamentary commission that concluded Kyrgyzstan was not involved in hundreds of millions of dollars of alleged money laundering uncovered in a bombshell joint journalistic investigation. Seventy-two lawmakers on June 18 approved the conclusion of the commission probing the murder of a businessman… Read More
18th June 2020
Signed cheques that combined totalled over RM1.3 million were given to a moneychanger with the name of the recipient left blank, several prosecution witnesses testified today in the money-laundering trial of former deputy prime minister Datuk Seri Ahmad Zahid Hamidi. The witnesses named the moneychanger as one “Omar Ali”, whose… Read More