Featured Trust & Corp Svcs

HK bankers and lawyers win right to apply for access to corporate registry

Hong Kong bankers and lawyers will be able to search the city’s companies registry under proposed exemptions to plans to tighten public access to the database, Secretary for Financial Services Christopher Hui said on Saturday. Business and governance experts have criticised a government plan to restrict access to the personal… Read More

Montenegrin Tycoon’s Lawsuit Against Media Highlights a Trail of Controversial Deals

By Dejan Milovac  and Jared Ferrie, OCCRP, 11 June 2021 OCCRP — Zoran Bećirović says he’s an ordinary property developer, and he’s suing Montenegro’s two biggest newspapers and a civil society organization for years of reporting “baseless claims” against him in their coverage of his high-profile land… Read More

India: Hawala scheme linked to shell companies, bank accounts and Chinese nationals

Cybercrime officials with the Criminal Investigation Department on Saturday busted a ₹290 crore money-laundering scam linked to a hawala racket. Ten people — including two from China and two from Tibet — have been arrested. However, the kingpin and prime accused, Anas Ahmed, who hails from Kerala but resides in… Read More
7th June 2021
Scotland Yard detectives want new laws to let them freeze the cryptocurrency assets of criminals in the same way they can stop them transferring funds. The Met is lobbying the government to change the legislation to make it tougher for criminals to transfer cryptocurrency, which is used by money launderers. Read More
7th June 2021
After amassing a fortune selling scrap metal in South Africa, Peter Cooper immigrated to Canada in the mid-1990s with his sons Marshall and Richard and their families. They settled in Victoria, purchased luxurious homes and became permanent residents — qualifying for Canadian health care and other social services. But that… Read More
4th June 2021
The Qatari state has been accused of playing a central role in a secret money laundering operation to send hundreds of millions of dollars to jihadists in Syria. A claim issued this week at the High Court in London alleges that a private office of the Gulf state’s monarch was… Read More
4th June 2021
For many in the West, the notion of kleptocracy—of transnational money laundering tied to oligarchs and authoritarians bent on washing billions of dollars in dirty money—remains a foreign concept. It conjures images of oligarchs purchasing penthouses in Manhattan or regime insiders floating aboard yachts along the French Riviera or maybe even the… Read More
3rd June 2021
The Palestinian militant group Hamas has seen a surge in cryptocurrency donations since the start of the armed conflict with Israel last month, a senior official with the group said, exploiting a trend in online fundraising that has enabled it to circumvent international sanctions to fund its military operations. The… Read More
3rd June 2021
The United States has sanctioned three Bulgarian individuals, including a power broker and a gambling tycoon, and dozens of companies they allegedly own or control for their “extensive roles” in corruption in the Southeast European country. The Department of the Treasury said in a statement on June 2… Read More
2nd June 2021
Hundreds of tiny companies based in Scotland and with directors in the Philippines have been reported to police over concerns about an alleged multimillion pound tax fraud scheme. New research estimates that about 600 “mini-umbrella” companies have been set up to take advantage of the employment allowance, which was designed… Read More
2nd June 2021
Czech police have asked for Prime Minister Andrej Babis to be charged with fraud, following an investigation into alleged misuse of European Union subsidies, according to a statement released on Monday. The criminal unit of the Economic Crime Department of the Prague Police has concluded its investigation into the case… Read More
1st June 2021
The UAE’s Ministry of Economy has started a campaign to ensure that more than 500,000 non-financial businesses in the country submit data on their ultimate beneficiaries. Property brokers, account auditors, dealers of precious metals and gemstones and corporate services providers are being encouraged to register the required data before the… Read More
31st May 2021
Belgian and Latvian authorities have seized Russian assets in a notorious money-laundering affair that saw the killing of whistleblower Sergei Magnitsky. A Belgian investigating judge, Bruno de Hous, seized some €400,000 from the proceeds of an apartment sale in the Belgian city of Antwerp. He also charged two Russians –… Read More