18th June 2020
The chief executive of an Iranian online financial services company pleaded guilty Tuesday to fraud conspiracy charges that federal prosecutors in Minnesota said involved millions of dollars in transactions violating U.S. sanctions on Iran. Seyed Sajjad Shahidian, the 33-year-old founder of Payment24, admitted Tuesday to conducting 21 illegal transactions with… Read More
15th June 2020
As the UK and the EU exchange expressions of disappointment with each other’s alleged inflexibility after every round of Brexit trade negotiations, the usual areas of disagreement are raised: access to Britain’s fishing grounds, the requirements of a level playing field agreement, regulations over state aid and other issues that… Read More
15th June 2020
Its currency has plunged by 70% since April, more than half its people face food scarcity, and hopes of rebuilding a country shattered by war continue to ebb. Syria seems barely able to absorb new shocks, but new US sanctions that take effect next week, could devastate what is left… Read More
15th June 2020
One Hong Kong businessman moved $10 million to Singapore and plans to transfer more. Another is eyeing London property, worried that prices in Hong Kong are too high. Well-to-do families across the city are opening offshore bank accounts and applying for alternative passports. While it doesn’t add up to an… Read More
12th June 2020
British Columbia and Ontario provide a base of operations for an elite network of professional money launderers identified by police in 2019 and washing “upwards of hundreds of millions” per year, B.C.’s Cullen Commission into money laundering heard this week. While Global News has reported on sophisticated transnational money-laundering networks… Read More
5th June 2020
OCCRP — A light snow was falling in Craiova, southern Romania, when Sorin Velcu called his mother in December 2018 to ask for 20,000 euros he had given her for safekeeping. But the funds were frozen — buried in the ice-cold earth in her backyard. “Somebody has to dig it out,”… Read More
4th June 2020
The prosecutor’s office has sent the large-scale money-laundering case of entrepreneur Tiiu Jarviste and her two fellow accused to court, Postimees reports. About to face trial in addition to Jarviste, 56, are also Aleksei Dremov, 40, and Andrii Danchak, 37 — the latter is the only one of the three… Read More
2nd June 2020
PayPal says it will continue to work with local law enforcement agencies to prevent its platform being used by criminals, including COVID-19 scammers, as transaction volumes surge to record levels with the pandemic accelerating growth in online payments. During April, PayPal in Australia processed the highest number and value of… Read More
29th May 2020
Zimbabwe’s central bank imposed limits on the amounts banks may transfer via a payment platform with 2 million users, as it tries to curtail illicit transactions and money laundering that it claims contributed to a currency rout. In a letter dated May 27 and seen by Bloomberg, the central bank’s… Read More
28th May 2020
The UK is at risk of becoming more vulnerable to illicit funds if it doesn’t closely cooperate with EU authorities on a post-Brexit deal, City of London lawyers told the Financial Times. The concerns follow recently announced plans by the European Union to strengthen its anti-money laundering controls by empowering… Read More