14th February 2020
Barclays Plc Chief Executive Officer Jes Staley is being investigated over his ties to disgraced financier Jeffrey Epstein, his second run-in with British regulators since he joined the bank in 2015. The bank said regulators are probing how Staley characterized his relationship with Epstein, the convicted sex offender who… Read More
14th February 2020
Bahrain launched legal proceedings on Thursday against a number of individuals and businesses involved in a vast money laundering scheme linked to state-owned Iranian banks. The operation allowed Iranian organizations, including some sanctioned for terror financing, to secretly move money internationally, the Kingdom’s prosecutors said. Billions of dollars were funneled… Read More
14th February 2020
The government has given its assurance that it will soon implement the EU’s new anti-money laundering rules, as Malta faces infringement procedures later this month if it fails to do so. The fifth anti-money laundering directive, the latest set of rules designed to cut down on financial crime in Europe,… Read More
14th February 2020
Federal prosecutors have hit Chinese telecom equipment manufacturer Huawei with new charges in a superseding indictment unsealed Thursday, which details the company’s alleged illegal behavior in Iran and North Korea. Prosecutors in Brooklyn, New York, alleged that Huawei set up a shell company in Iran so that the subsidiary could… Read More
14th February 2020
A whistleblower and former employee of ClubsNSW has claimed that money laundering through poker machines is rife in pubs and clubs across the country. In an exclusive interview with the ABC, Troy Stolz, a former ClubsNSW anti-money laundering and counter-terrorism finance (AML/CTF) compliance auditor, said that the scale of the… Read More
14th February 2020
Sitting in the gloom of his housing commission apartment amid a smell of stale cigarettes and motor oil, you would not know Rod Jackson was a director of more than two dozen companies. Then again, neither would he. “They’ve really stuck me in the shit, haven’t they?” Mr Jackson croaks… Read More
14th February 2020
A mafia gang that laundered money illegally obtained in Italy has been busted in the Canary Islands. This investigation has led to the blocking and seizure of 37 properties and 19 companies worth approximately 14 million euros. The Civil Guard and the Tax Office, together with the Carabinieri Force of… Read More
14th February 2020
The Philippines should also charge tax evaders with money laundering to tighten its watch against ill-gotten wealth, the International Monetary Fund (IMF) said. In its recent health check on the nation’s economy, the global authority said the Philippine government can further strengthen controls on money laundering by adding tax evasion… Read More
14th February 2020
The European Union will add the Cayman Islands to a blacklist of foreign tax havens after the UK overseas territory failed to pass legislation that adequately addressed concerns about businesses seeking tax advantages in the jurisdiction, the Financial Times reported. EU27 ambassadors voted on Wednesday to include the Cayman… Read More
13th February 2020
The European Commission has sent legal warnings to Cyprus, Portugal, the Netherlands and five other EU states over their delays in applying new anti-money laundering rules adopted at European Union level two years ago. The 27 EU states were required to enact by January tighter rules to counter dirty-money risks… Read More