Germany: Massive money laundering in real estate, KYC, beneficial ownership issues – research
21st December 2018
Germany: Massive money laundering in real estate, KYC, beneficial ownership issues – research
Criminals are able to use Germany’s real estate sector to launder billions of euros annually as its laws and resources for authorities are out of step with the swift movement of corrupt cash, a new study has found. It is estimated that 15 to 30 percent of all criminal assets… Read More
How does the UK tax cryptocurrencies? Government publishes policy paper
21st December 2018
How does the UK tax cryptocurrencies? Government publishes policy paper
The United Kingdom has outlined its views on the taxation of cryptoassets, such as bitcoin, alongside guidance on what holders of such assets need to pay and records they should keep. According to HMRC, individuals will be liable to pay income tax and national insurance contributions on cryptoassets they receive… Read More
UK financial crime: Almost half a million suspicious activity reports filed
21st December 2018
UK financial crime: Almost half a million suspicious activity reports filed
The number of suspicious activity reports (SARS) received by the UK Financial Intelligence Unit edged up to almost half a million in the year, placing increased demand on the unit in terms of volume and complexity, the UK’s financial crime boss said in the latest National Crime Agency SARS report. Read More
Anti-money laundering in 2018: Spectacular failures, hot money and, oh dear, the banks!
21st December 2018
Anti-money laundering in 2018: Spectacular failures, hot money and, oh dear, the banks!
As the year comes to a close and the holiday season gets into full swing, anti-money laundering (AML) professionals may well be left dumbstruck, very worried or somewhat giddy after a year that has thrown up some striking developments in enforcement and regulation, a stunning AML catch (drumroll please!) and… Read More
Saudi corruption settlements will net “not significantly less” than $13 bln in 2019 – minister
21st December 2018
Saudi corruption settlements will net “not significantly less” than $13 bln in 2019 – minister
Saudi Arabia’s finance minister said on Wednesday that cash settlements from an anti-corruption campaign would net “not significantly less” in 2019 than the 50 billion Saudi riyals ($13.3 billion) collected in 2018. Mohammed al-Jadaan also said in a Reuters interview that construction giant Saudi Binladin Group, in which the government… Read More
What can you do to protect your data on Facebook?
21st December 2018
What can you do to protect your data on Facebook?
AP — Facebook has shared users’ private messages, contact information and other personal data with companies such as Microsoft and Spotify, according to a New York Times report that was alarming even in light of previous disclosures about the social network’s practices. Is there anything users… Read More
EU states endorse new plans to supervise banks on money laundering
20th December 2018
EU states endorse new plans to supervise banks on money laundering
EU member states have agreed on a plan aimed at strengthening the European Banking Authority’s supervisory powers in order to better address money laundering problems following a rise in banking financial crime scandals. Under the plans, the EBA – as a last resort – will be able to directly… Read More
Estonia arrests ten in Danske Bank money laundering inquiry
20th December 2018
Estonia arrests ten in Danske Bank money laundering inquiry
Estonia has arrested 10 former employees of the local branch of Danske Bank (DANSKE.CO) as part of an international investigation into alleged money laundering. Authorities in Denmark, Estonia, Britain and the United States are investigating payments totaling 200 billion euros ($229 billion) made through the tiny Estonian branch of Denmark’s… Read More
Russian whistleblower probably died of natural causes, UK inquest finds
20th December 2018
Russian whistleblower probably died of natural causes, UK inquest finds
A Russian mafia whistleblower who was found dead after going out for a run near his home in southern England six years ago probably died of natural causes rather than from an elaborate poison plot, a British coroner found on Wednesday. Alexander Perepilichny, 44, was found collapsed and vomiting… Read More
UK: Santander fined £32.8 million for poor handling of dead customers’ accounts
20th December 2018
UK: Santander fined £32.8 million for poor handling of dead customers’ accounts
Santander has been fined £32,817,800 after the Financial Conduct Authority (FCA) found it had failed to effectively handle the accounts and investments of deceased customers. According to the regulator, the bank failed to transfer funds totalling over £183m to beneficiaries when it should have done, which directly affected 40,428… Read More
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