Hong Kong plunged into political crisis after huge protest against extradition law
10th June 2019
Hong Kong plunged into political crisis after huge protest against extradition law
Riot police surrounded Hong Kong’s parliament early on Monday after what had been a peaceful million-strong protest against an extradition bill descended into running clashes between police and protesters. Several hundred riot police armed with batons, shields, tear gas guns and pepper spray sealed off the Legislative Council as a… Read More
Venezuela court orders trial for detained Citgo executives
10th June 2019
Venezuela court orders trial for detained Citgo executives
A Venezuelan court on Friday ordered that six executives from U.S. refiner Citgo should stand trial on charges of corruption, defying pressure from U.S. authorities to release for the group that includes naturalized U.S. citizens. The executives were arrested in November 2017 after being called into a meeting at the… Read More
New Ukraine president calls for tougher sanctions on Russia
10th June 2019
New Ukraine president calls for tougher sanctions on Russia
AP — Ukrainian President Volodymyr Zelenskiy is urging the European Union to step up sanctions against Russia amid continued tensions in the eastern Donbass region and Crimea. After talks Wednesday with European Council President Donald Tusk, Zelenskiy thanked the bloc for its “unwavering support” and called for the “strengthening of… Read More
MoneyGram’s loan faces performance, money laundering concerns
10th June 2019
MoneyGram’s loan faces performance, money laundering concerns
Money transfer company MoneyGram International Inc is struggling to finalize a US$663m loan as its financial performance wilts under fierce competition following a US$125m US government fine last November for poor money-laundering controls, sources said. MoneyGram, the second largest provider of money transfers in the world, is raising the four-year… Read More
The Abacha Case: How AML Procedures Should Have Flagged $267m Earlier
10th June 2019
The Abacha Case: How AML Procedures Should Have Flagged $267m Earlier
The news this week that the Bailiwick of Jersey had recovered more than $267 million linked to former Nigerian President Sani Abacha puts a spotlight on the banking sector’s vulnerability to money laundering. The funds, which were purportedly derived from corruption, had first been laundered through the US banking system… Read More
EU reviews Deutsche Bank, SocGen in screening of past money-laundering cases
10th June 2019
EU reviews Deutsche Bank, SocGen in screening of past money-laundering cases
The European Commission is reviewing past money-laundering cases at EU banks to assess what went wrong and decide possible tweaks to rules, an EU official said, citing Deutsche Bank and Societe General as among the screened lenders. The review is part of a broader plan to improve the European Union’s… Read More
U.S. tightens Venezuela oil sanctions, indicates more actions to come
7th June 2019
U.S. tightens Venezuela oil sanctions, indicates more actions to come
The U.S. Treasury Department on Thursday tightened its pressure on Venezuela’s state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions. The change, announced on the Treasury Department’s website, is the latest U.S. measure aimed at pressuring Venezuelan President Nicolas Maduro… Read More
U.S. Senate Democrats seek Fed probe into Deutsche Bank and Trump
7th June 2019
U.S. Senate Democrats seek Fed probe into Deutsche Bank and Trump
A group of U.S. Senate Democrats is urging the Federal Reserve to investigate Deutsche Bank AG’s relationship with President Donald Trump and his son-in-law and adviser Jared Kushner. The lawmakers, led by Senators Chris Van Hollen and Sherrod Brown, the senior Democrat on the Senate Banking Committee, said news reports… Read More
Prosecutors suspect 70 Deutsche Bank managers in dividend tax probe: paper
7th June 2019
Prosecutors suspect 70 Deutsche Bank managers in dividend tax probe: paper
German prosecutors have extended an investigation into a tax-stripping scheme, with around 70 current and former executives of Deutsche Bank now being treated as suspects, the Sueddeutsche Zeitung reported on Thursday. Among those suspected by the Cologne prosecutor’s office is Garth Ritchie, the head of Deutsche’s investment banking arm, the… Read More
El Salvador: Ex-President Saca to plead guilty to bribery
7th June 2019
El Salvador: Ex-President Saca to plead guilty to bribery
AP — Authorities in El Salvador say ex-President Tony Saca has reached a deal to plead guilty to bribing a judicial official to leak information in a civil case against him. Prosecutors say in a legal document that Saca will face an abbreviated judicial process and be given a two-year… Read More
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