5th January 2021
A U.S. judge on Monday blocked the Trump administration from sanctioning human rights lawyers for supporting the work of the world’s war crimes tribunal, the International Criminal Court. U.S. District Judge Katherine Polk Failla in Manhattan issued a preliminary injunction against the White House from imposing criminal or civil penalties… Read More
5th January 2021
Measures to better counter money laundering and terrorism financing were approved yesterday, under changes to the law that regulates virtual payment service providers. These changes will also strengthen laws governing digital payment tokens (DPTs) to ensure that companies issuing such tokens protect the assets of their users, said Transport Minister… Read More
5th January 2021
Bitcoin is entering 2021 in the best place its ever been. With strong movements past $30,000, the whole world is waiting to see how high Bitcoin will go. But while BTC hodlers’ pockets are busting with cash, the United States’ tax arm, also known as the Internal Revenue Service (IRS),… Read More
5th January 2021
Malta is on track to make it through a crucial evaluation of its anti-money laundering regime, Prime Minister Robert Abela said on Sunday. In a brief phone-in interview on the Labour Party’s ONE radio, Abela said the government had put a lot of work into addressing shortcomings that had been… Read More
4th January 2021
New rules intended to combat money laundering and the financing of terrorism—including measures to make company ownership more transparent—will go into effect now that the National Defense Authorization Act has been approved, advancing a yearslong effort by anticorruption advocates. Provisions in the annual defense-policy legislation would require many U.S. Read More
4th January 2021
The U.S. State Department on Friday added a Cuban commercial bank to its restricted list, saying it will prevent the Cuban military from benefiting from financial transactions. The State Department placed Banco Financiero International S.A. in the Cuba Restricted List starting in early January, calling it “a Cuban military-controlled commercial… Read More
4th January 2021
Hong Kong customs officials seized HK$4.6 billion (US$593.3 million) in dirty money in 2020 – a four-year high – as transnational rackets turned to novel methods for smuggling cash into the city and handling criminal proceeds amid the Covid-19 pandemic. Overall, the Customs and Excise Department last year arrested 38… Read More
4th January 2021
The Federal Board of Revenue (FBR) has begun investigating incumbent National Bank of Pakistan (NBP) President, Arif Usmani, for his alleged offshore assets worth billions of rupees. Sources privy to the information told Profit that the incumbent NBP president has stashed assets worth $11,481,440, equivalent to Rs1.8 billion, in Citi… Read More
4th January 2021
The founder of an organisation dedicated to the eradication of modern slavery says careful and compliant reporting of suspicious transactions by banks would deliver a tremendous boost to stamping out crimes such as human trafficking, while banning whole industries risks merely forcing the problem underground. James Cockayne, the founder of… Read More
4th January 2021
The Vatican is scrambling to justify mysterious international money transfers worth more than £1 billion in a new twist to a case involving a cardinal, historical sex abuse allegations and an investment in a property development in Chelsea. The watchdog that monitors international transactions in Australia detected more than 400,000… Read More