3rd March 2021
B.C. casino investigators probed real estate lawyers whom they had connected to private mortgages, organized crime and an alleged transnational money-laundering scheme, the province’s inquiry has heard. In testimony Tuesday at the Cullen Commission, Brad Rudnicki, a BC Lottery Corporation anti-money laundering intelligence specialist, said his investigations suggested… Read More
1st March 2021
A national 80-branch real estate agency Property Brokers got the first formal warning in the real estate sector for not complying with anti-money laundering law but the chain’s chairman Tim Mordaunt said the state only was trying to make an example of them. Te Tari Taiwhenua Department of Internal Affairs… Read More
1st March 2021
The Anti-Money Laundering Council (AMLC) has relaxed the registration guidelines for Philippine offshore gaming operators (POGOs) as well as real estate developers and brokers. The guidelines were eased as real estate developers and brokers as well as POGOs only have until March 16 to register with the AMLC. These entities… Read More
26th February 2021
Four jurisdictions, including the Cayman Islands and Morocco, will undergo increased monitoring as they face pressure from a global watchdog to address deficiencies in their anti-money-laundering efforts. The Financial Action Task Force, a Paris-based organization that sets anti-money-laundering law standards, on Thursday added Burkina Faso, the Cayman Islands, Morocco and… Read More
26th February 2021
Luxembourg has dismissed accusations of rampant tax avoidance and insisted that the country respects “all the applicable European and international rules and standards in terms of tax transparency , the fight against tax abuses and the fight against money laundering and the financing of terrorism”. The duchy is reeling from relevations made public in an exercise dubbed as Openlux, a collaboration… Read More
26th February 2021
At long last, Raimbek Matraimov was going to be giving instead of taking. The former Kyrgyz customs official, nicknamed Raim-Million for his immense wealth, agreed in October to repay 2 billion soms (US$24 million) to compensate his government for years of corruption. His admission of guilt and repayment of a… Read More
25th February 2021
The British entrepreneur who built up property company Dawnay Day before it collapsed amid the global financial crisis may be encountering trouble with a more recent investment — a share in a painting purchased from a high-flying art dealer now facing fraud charges. Peter Klimt has asserted a 50% interest… Read More
24th February 2021
One of the most influential figures in Latvian politics has been sentenced to five years in prison for corruption. Aivars Lembergs, the mayor of the city of Ventspils since 1988, was convicted by a court in Riga on Monday of bribery and money laundering. The wealthy businessman was immediately arrested… Read More
23rd February 2021
When New York prosecutors finally get to examine the federal tax returns of former President Donald J. Trump, they will discover a veritable how-to guide for getting rich while losing millions of dollars and paying little to no income taxes. Whether they find evidence of crimes, however, will also depend… Read More
19th February 2021
For decades, Cambodians fleeing successive autocratic governments have found sanctuary in Australia. But over the last five years, some of the current regime’s closest allies have begun to follow its victims to the Land Down Under, taking with them the vast wealth that flows to those with proximity to power… Read More