6th June 2019
By Helen Chan, Reuters Graft scandals, and the political, economic and legal fallout associated with them, have become public enemy number one. Efforts to fight corruption and punish corrupt individuals and businesses are at the top of the agenda for many regulators and government around the world. Mere association with… Read More
6th June 2019
Latvia’s Ministry of Justice has added charges of money laundering to its ongoing bribery case against European Central Bank Governing Council member Ilmars Rimsevics, Bloomberg reported Tuesday. Latvian prosecutors last year accused Rimsevics of soliciting a bribe of €500,000 from a since-shuttered bank that was alleged to have violated money laundering… Read More
6th June 2019
By Heather Vogell, ProPublica The owners of a 70-story Panama City hotel tower formerly managed by President Donald Trump’s companies are accusing them of stiffing the Panamanian government. In a legal filing Monday in an ongoing lawsuit in Manhattan federal court, private equity manager Orestes Fintiklis and the company he… Read More
5th June 2019
Bank board members will have to pay increasingly close attention to functions which are being automated and no longer carried out by individuals, including anti-money laundering checks, a senior Bank of England official said on Tuesday. BoE executive director for UK deposit takers supervision James Proudman said managing risks from… Read More
5th June 2019
European Union preparations for a no-deal Brexit would split stock markets in Europe, although the damage could be reduced if Britain spelled out in advance its approach to trading, a top EU regulator said on Tuesday. The EU angered market participants in March when it said that if there is… Read More
5th June 2019
Venezuelan PDVSA’s oil exports took another hit in May, following a deadline for customers to wind-down purchases in order to comply with U.S. sanctions, according to documents from the state-run company and Refinitiv Eikon data. The energy firm’s exports of crude and refined products fell 17% in May from the… Read More
5th June 2019
The Trump administration banned cruises to Cuba under new restrictions on U.S. travel to the Caribbean island imposed on Tuesday to pressure its Communist government to reform and stop supporting Venezuelan President Nicolas Maduro. The tightening of the decades-old U.S. embargo on Cuba will further wound its crippled economy, as… Read More
5th June 2019
The U.S. Securities and Exchange Commission sued social media company Kik Interactive Inc on Tuesday, alleging it conducted an illegal $100 million securities offering of digital tokens in 2017. The move sets up what could be a high-profile legal fight over the U.S. government’s treatment of cryptocurrencies. Kik, which provides… Read More
5th June 2019
AP — The owner of a contracting company has pleaded guilty to participating in a scheme that defrauded the government by receiving contracts intended for veterans and minorities. Forty-three-year-old Matthew McPherson, owner of Topeka-based McPherson Contractors, pleaded guilty Monday to conspiracy to commit wire fraud and major program fraud. Federal prosecutors… Read More
5th June 2019
The Estonian government intends to move forward with a raft of measures that will seek to make the Baltic nation, long at the center of Europe’s largest money laundering scandal, a far less appealing destination for financial crooks. In a bid to repair its reputation following the disclosure last year that… Read More