Portuguese court orders ex-PM Sócrates to stand trial for money laundering
12th April 2021
Portuguese court orders ex-PM Sócrates to stand trial for money laundering
A Portuguese judge on Friday ordered ex-Prime Minister José Sócrates to stand trial for money laundering and falsifying documents but dropped more serious charges of corruption against the former Socialist leader, who prosecutors had accused of taking €34 million in kickbacks. “There would seem to have been the acceptance of… Read More
Malta’s controversial fundraising rules for NGOs being watered down
12th April 2021
Malta’s controversial fundraising rules for NGOs being watered down
Controversial rules that are meant to tackle financial crime in the voluntary sector will be watered down following an outcry by NGOs. Government sources told Times of Malta that a list of changes will be drafted to the rules introduced to combat money laundering within the voluntary sector. The regulations… Read More
President Biden’s Budget Request Includes Funds for Corporate Ownership Registry
12th April 2021
President Biden’s Budget Request Includes Funds for Corporate Ownership Registry
A discretionary budget request released by the Biden administration includes a sizable boost for a unit of the U.S. Treasury Department tasked with building a complex corporate ownership registry. The White House request, announced Friday, seeks to provide an additional $64 million to the Financial Crimes Enforcement Network, or FinCEN,… Read More
Big Business Slams Hong Kong’s Move to Limit Company Registry
12th April 2021
Big Business Slams Hong Kong’s Move to Limit Company Registry
The main group representing multinational businesses in Hong Kong blasted the government’s hasty plan to limit information in the financial hub’s company registry, saying the move could hurt investments and trade. In a letter to lawmakers distributed on Wednesday, The International Chamber of Commerce – Hong Kong urged the government… Read More
Nine detained in HK$900 million laundering bust in Hong Kong involving 300 bank accounts
12th April 2021
Nine detained in HK$900 million laundering bust in Hong Kong involving 300 bank accounts
Hong Kong police arrested nine people on suspicion of laundering more than HK$900 million (US$116 million) through 300 bank accounts over the past six months, part of which was conned from 55 victims of romance and investment scams. Investigations showed that around HK$35 million of the money came from 30… Read More
‘Aphrodisiac’ of the ocean: how sea cucumbers became gold for organised crime
12th April 2021
‘Aphrodisiac’ of the ocean: how sea cucumbers became gold for organised crime
It’s after sunset in Jaffna when Anthony Vigrado dives into the waters of Palk Bay, scanning the seafloor to collect what seems to be prized treasure. What he comes back with are sea cucumbers – long, leathery-skinned creatures that are increasingly valuable and the source of his income for the… Read More
Gardai expand investigation into fraud at Irish charity Bothar
12th April 2021
Gardai expand investigation into fraud at Irish charity Bothar
Gardai investigating the alleged misappropriation of funds from the charity Bothar by its former chief executive are examining claims that other people might have been involved in fraud. Bothar secured a High Court order last week freezing the assets of David Moloney, its former boss, who quit in February after… Read More
ICAP Memos Reveal Inner Workings of Now Notorious Cum-Ex Era
11th April 2021
ICAP Memos Reveal Inner Workings of Now Notorious Cum-Ex Era
ICAP Plc’s rules for running trades that enabled what German lawmakers have called one of the costliest tax dodges in history were clear: don’t ask, don’t tell. “Do not enquire after the tax analysis of the German counterparty,” notes a 2008 memo signed off by a… Read More
U.S. Blacklists Seven Chinese Supercomputing Firms
11th April 2021
U.S. Blacklists Seven Chinese Supercomputing Firms
The U.S. added seven Chinese supercomputing firms to a list of entities banned from receiving exports from American companies, citing activities contrary to the national-security or foreign-policy interests of the U.S. The companies were added so-called entity list, which prohibits American firms from doing business with them without first obtaining… Read More
Belgian Police Seize 27 Tons of Coke After Cracking Encrypted Phones
11th April 2021
Belgian Police Seize 27 Tons of Coke After Cracking Encrypted Phones
By Juliett Pineda, OCCRP, 8 April 2021 OCCRP — After they intercepted encrypted messages exchanged between members of organized crime groups, Belgian authorities seized in the port of Antwerp 27.64 tons of cocaine worth some 1.38 billion euros (about US$1.64 billion) just over the past two… Read More
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