Swiss regulator censures Bank Syz over money laundering
25th November 2020
Swiss regulator censures Bank Syz over money laundering
The Swiss financial market regulator FINMA has reprimanded Bank Syz for breaching money laundering rules involving a business relationship with an Angolan client. “FINMA found that the bank did not make sufficient efforts to investigate the substantial growth in the client’s assets,” the financial watchdog said in a statement on… Read More
‘MaltaFiles’ firm Credence fined €261,000 over money laundering shortcomings
25th November 2020
‘MaltaFiles’ firm Credence fined €261,000 over money laundering shortcomings
Corporate services provider Credence, which featured in an extensive European Investigation Collaborations exposé on tax avoidance in Malta, has been fined €261,000 by the Financial Investigation Analysis Unit for breaches of various money laundering obligations. Credence Corporate Advisory Services is a Maltese law firm which featured in stories on the… Read More
Former footballers among many arrested in Maltese fuel smuggling raids
25th November 2020
Former footballers among many arrested in Maltese fuel smuggling raids
Former footballers Darren Debono and Jeffrey Chetcuti have spent the night in prison after police carried out a nationwide anti-smuggling sting operation. Law enforcement sources confirmed that a number of raids were carried out between Monday and the early hours of Tuesday morning targeting Debono and a number of his… Read More
EU’s Sanctions List for Separatist Transnistria Leaders ‘Out of Date’
25th November 2020
EU’s Sanctions List for Separatist Transnistria Leaders ‘Out of Date’
The Council of the European Union on Monday extended until October 2021 the restrictive measures it has imposed on representatives of the separatist regime in Transnistria, banning then from entering EU countries – but observers noted that the list of individuals sanctioned is outdated and includes people who are no… Read More
UAE to take action against non-registered Hawala operators from December 3
25th November 2020
UAE to take action against non-registered Hawala operators from December 3
The UAE Central Bank will start taking legal action against non-registered Hawala service providers when registration deadline expires on December 2, 2020, after which no Hawala service provider will be allowed to operate in the country. “After the deadline has expired, the Central Bank will impose the necessary legal and… Read More
US Authorities Missed Millions of Dollars in Seized Crypto Wallets
25th November 2020
US Authorities Missed Millions of Dollars in Seized Crypto Wallets
Coinfirm, blockchain analytics and anti-money laundering (AML) solutions provider has discovered that the US authorities have failed to identify millions of dollars worth of forked cryptos in criminal seizures over the past few years. In a published report, the company mentioned that missed funds may still be within the… Read More
Most people in China believe corruption falling, says Transparency International
25th November 2020
Most people in China believe corruption falling, says Transparency International
Almost two thirds of people in China believe corruption has decreased in their country in the past year, with more than 80% saying the government has done a good job in combating it, a new report has said. The report from Transparency International was based on surveys of almost… Read More
Ireland: Money-launderer had enough weapons ‘to arm a small country’
25th November 2020
Ireland: Money-launderer had enough weapons ‘to arm a small country’
A woman and her partner, who was rumbled as he left an arsenal of firearms and ammunition that could “arm a small country”, laundered hundreds of thousands of euro in organised crime cash, the Special Criminal Court has heard. Forensic analysis of accounts linked to Carol Davis (45) revealed that… Read More
His bank raided his account to cover a payment made to scammers
25th November 2020
His bank raided his account to cover a payment made to scammers
Justin Smith has been hit with a one-two punch of bad luck. First, the Toronto man was duped by a job scam that made off with $3,000. Then his longtime bank, Tangerine, helped itself to money Smith had in his tax-free savings account to recoup what it had lost in… Read More
Gabon’s First Family Stashed Cash in DC Property
24th November 2020
Gabon’s First Family Stashed Cash in DC Property
By Pierre Dupont, Roshanak Taghavi and Kira Zalan, OCCRP, 23 November 2020 OCCRP — The Bongo family has ruled Gabon for over five decades — and for nearly as long, they have been accused of looting their nation’s wealth. Authorities in France and the U.S. have over the years investigated… Read More
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