MONEYVAL experts say Gibraltar must do more to combat money laundering and terrorism financing
13th February 2020
MONEYVAL experts say Gibraltar must do more to combat money laundering and terrorism financing
Gibraltar must do more to combat money laundering and terrorism financing, according to a detailed report by a team of international experts who identified fundamental “shortcomings” in compliance with international standards, even while acknowledging that key supervisors here have “a robust understanding” of the risks and requirements. The 250-page… Read More
Foreign banks wary of opening accounts for ‘risky’ Maltese
13th February 2020
Foreign banks wary of opening accounts for ‘risky’ Maltese
A number of international banks were declining to do business with Maltese nationals as they viewed the jurisdiction to be too risky, sources within Malta’s financial institutions warned. Sources from the financial sector and banking regulators confirmed they had received reports from Maltese nationals and Malta-based businesses after overseas banks… Read More
Pakistan jails alleged mastermind of Mumbai terror attack on terror finance charges
13th February 2020
Pakistan jails alleged mastermind of Mumbai terror attack on terror finance charges
The alleged mastermind of the 2008 attacks in Mumbai has been jailed in Pakistan for nearly six years on terror financing charges. Hafiz Saeed is wanted by Washington and New Delhi for allegedly planning the 2008 attack on India’s financial capital, when 10 Islamist militants armed with assault rifles,… Read More
Spanish police arrest former head of Mexico’s state oil firm Pemex
13th February 2020
Spanish police arrest former head of Mexico’s state oil firm Pemex
Spanish police on Wednesday arrested Emilio Lozoya, the former chief executive of Mexico’s state oil firm Pemex, giving President Andres Manuel Lopez Obrador his first high-profile win in his government’s anti-corruption drive. Lozoya, who has not been seen publicly since mid-2019, is accused in Mexico of corruption related to a… Read More
US gives Iraq sanctions waiver for vital Iranian gas imports
13th February 2020
US gives Iraq sanctions waiver for vital Iranian gas imports
AP — The United States has granted Iraq a 45-day sanctions waiver enabling the country to continue importing vital Iranian gas and electricity supplies. In a statement Wednesday, the U.S. State Department said the waiver “ensures that Iraq is able to meet its short-term energy needs while it takes steps… Read More
Fugitive Gambling Tycoon Fights for His Vast Trove of Artifacts
13th February 2020
Fugitive Gambling Tycoon Fights for His Vast Trove of Artifacts
Public quarrels between politicians and rich businessmen over alleged links to organized crime are hardly new, especially in a country ranked among the most corrupt in Europe. The case of Vasil Bozhkov in Bulgaria, though, has captured the national imagination because it cuts to the heart of the Balkan country’s heritage. The… Read More
Colombia searches Avianca offices in Airbus bribery probe
13th February 2020
Colombia searches Avianca offices in Airbus bribery probe
Colombia’s attorney general’s office searched the offices of embattled airline Avianca on Wednesday as part of an investigation into an alleged bribery scheme involving European manufacturer Airbus . Airbus has reached a plea bargain with prosecutors in Britain, France and the United States and agreed to pay a record $4… Read More
Cyprus ‘golden passports’ scheme a laundering risk: Moneyval
13th February 2020
Cyprus ‘golden passports’ scheme a laundering risk: Moneyval
A European money laundering watchdog has cautioned that a secretive investment-for-passports program run by Cyprus was vulnerable to money laundering and fraught with risk. The Mediterranean island launched the scheme offering passports for an investment in 2013, with more than 3,000 people gaining citizenship through the program. A committee of… Read More
Puerto Rico Bank to Pay $1 Million to Resolve Investigation Related to PdVSA Transactions
12th February 2020
Puerto Rico Bank to Pay $1 Million to Resolve Investigation Related to PdVSA Transactions
Bank of San Juan Internacional Inc. agreed to pay $1 million to resolve a federal investigation into alleged money laundering, the U.S. Department of Justice said. Prosecutors alleged that the San Juan, Puerto Rico-based bank laundered millions of dollars related to transactions and loan agreements with Venezuela’s state-owned oil giant,… Read More
Virus Cuts Off North Korea’s Best Route Around Trump’s Sanctions
12th February 2020
Virus Cuts Off North Korea’s Best Route Around Trump’s Sanctions
North Korea’s decision to shut the border with China to avoid the coronavirus will set back its nascent economic recovery, renewing pressure on Kim Jong Un to return to nuclear negotiations with Donald Trump. A jump in fuel prices, a dip in port activity and the suspension of train and… Read More
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