Featured Real Estate

Pakistan expects to avert blacklisting over terrorism financing

Backed by longtime ally China, Pakistan is confident it will avert blacklisting over terrorism financing by a global watchdog on Friday but it will not be completely off the hook until it proves it is genuinely severing ties with Islamist militants, officials and analysts said. The Financial Action Task Force… Read More

Indian court jails former MD of PMC Bank as fraud probe deepens

An Indian court on Thursday sent the former managing director of Punjab and Maharashtra Co-operative (PMC) Bank, Joy Thomas, to jail as a probe into an alleged 43.55 billion rupees ($610 million) fraud intensifies. Thomas stands accused in a police complaint of criminal breach of trust, forgery and falsification of… Read More

Pakistan faces black list of countries financing terrorism

AP — Pakistan is trying to avoid getting blacklisted by the Financial Action Task Force, a global watchdog, when it meets Wednesday in Paris. Read More
15th October 2019
A Miami financial advisor who faced trial Tuesday on corruption and money-laundering charges that implicated Ecuador’s national oil company and Brazilian construction giant Odebrecht has decided to plead guilty. Frank Roberto Chatburn Ripalda, who has American and Ecuadorian citizenship, admitted in a plea agreement that he used the U.S. financial… Read More
11th October 2019
The European Union is considering tighter rules to counter the flow of dirty money into the region’s banks and other economic sectors, EU officials said on Thursday. Following a spat of money-laundering scandals at several lenders that highlighted weak oversight by national authorities, the EU is also considering setting up… Read More
11th October 2019
The United States on Thursday sanctioned the three Gupta brothers at the center of the South African corruption scandal that contributed to the downfall of former President Jacob Zuma, saying they had misappropriated state assets. The U.S. decision to impose financial restrictions on the brothers is a public relations victory… Read More
10th October 2019
The European Union is working on a new approach for flagging countries with weak anti-money-laundering laws after the bloc’s previous attempt to create a blacklist failed earlier this year. A newly proposed methodology for designating high-risk countries is aimed at addressing concerns about transparency in the previous process, according… Read More
10th October 2019
The International Monetary Fund (IMF) is asked to conduct an independent evaluation of money laundering prevention in the Nordic and Baltic region, a member of the Bank of Lithuania’s board said Wednesday. “A regional monetary prevention evaluation will be performed,” Marius Jurgilas told members of the Seimas Committee on Budget… Read More
9th October 2019
A dispute over home conversions in suburban Rockland County threatens to upend Manhattan’s luxury condominium market. Lawmakers in the county drew up state legislation to prevent the anonymous purchase of homes through the creation of limited-liability companies. Some residents suspected their new neighbors of making illegal home conversions or subdivisions,… Read More
9th October 2019
Estate agents could be forced to hand over private information on the buyers of upmarket properties under measures to tackle money laundering. The information, which could include bank account details, would be given to the National Crime Agency as part of efforts to gather additional intelligence, including on “dirty money”… Read More
7th October 2019
Judging by the fleet of supercars parked in the grounds of Geneva’s Bonmont Golf and Country Club last Sunday, Teodorin Obiang was not overly fussed by the size of his carbon footprint. There were 25 in total, representatives of every luxury model conceivable, from Aston Martin to Bugatti and Ferrari,… Read More
3rd October 2019
Five Vatican employees, including the number two at the Vatican’s Financial Information Authority (AIF) and a monsignor, have been suspended following a police raid, the Italian magazine L’Espresso reported on Wednesday. The scandal, affecting two departments at the heart of the Vatican, was the first after several years of relative… Read More
1st October 2019
Pakistan’s government is facing an embarrassing high court case after allegedly failing to pay a multimillion-pound bill for tracking down properties once owned by the country’s disgraced former prime minister Nawaz Sharif. The asset recovery firm Broadsheet has launched an unusual claim for about £17m… Read More