30th November 2020
Societe Generale SA was reprimanded by a Swiss court and ordered to give up $150 million deposited by convicted fraudster Allen Stanford that it had fought for nearly a decade to keep. The court ruled that Societe Generale failed to do proper due diligence before accepting Stanford’s money. The… Read More
30th November 2020
Vatican investigators have been granted full access to Swiss banking documentation related to long-time Vatican investment manager Enrico Crasso. The newly announced decision by a Swiss federal court is the latest development in the ongoing financial scandal surrounding the purchase of a London building by the Secretariat of State in… Read More
30th November 2020
Packed trading floors are rare these days. An exception is the Shahzada currency-exchange market in Kabul. Seven days a week hundreds of men crowd into a modest courtyard. Each has a bundle of banknotes; some have piles several feet deep. Prices—for American dollars, Iranian rials and Pakistani rupees—ring out and… Read More
30th November 2020
Hong Kong leader Carrie Lam says she has to pile up cash at home as she has been unable to open a bank account in the global financial centre since Washington sanctioned her shortly after Beijing imposed a national security law on the city. Beijing circumvented Hong Kong’s legislature and… Read More
27th November 2020
By Eli Moskowitz, OCCRP, 25 November 2020 OCCRP – Leaders of the G20 reiterated their commitment to following anti-money laundering policy measures recommended by the Financial Action Task Force (FATF), which stressed their importance amidst the COVID-19 pandemic at a summit over the weekend hosted by… Read More
27th November 2020
High-profile Kremlin critic and investor Bill Browder has threatened Credit Suisse and UBS with legal action for breaching US sanctions if they unfreeze accounts belonging to three Russian clients accused of a huge tax fraud against his investment company. The two Swiss banks hold assets worth more than $24m, which… Read More
27th November 2020
Peruvian politician Humberto Acuña was convicted of bribery committed while he was governor of a northern Peruvian state from 2011 to 2018, and still faces several other charges, including abuse of authority and criminal conspiracy. Still, the burly 54-year-old engineer is a powerful congressman for the Alliance for Progress Party,… Read More
27th November 2020
The Bank of Jamaica (BOJ) is confident of having Jamaica removed from the international watchlist of countries with weak Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regime based on the work being carried out by the bank. BOJ Deputy Governor Maureen Simms pointed out that the central bank has… Read More
27th November 2020
European Union foreign-policy chief Josep Borrell highlighted the possibility of tougher EU sanctions against Turkey over its activities in the eastern Mediterranean, saying the bloc’s leaders will tackle the matter at a Dec. 10-11 meeting. “Certainly we are in a critical moment with our relationship with Turkey,” Borrell told the… Read More
27th November 2020
Belgazprombank ex-CEO Viktor Babariko has been charged with major bribery and money laundering, Belarusian State Security Committee (KGB) press service announced Tuesday. “The KGB Investigative Directorate has completed the preliminary investigation against the Belgazprombank top management. […] The organizer of the criminal activity, former Belgazprombank CEO Viktor Babariko <…> has… Read More