U.S. Anti-Money-Laundering Measure Poised to Clear Congress
7th December 2020
U.S. Anti-Money-Laundering Measure Poised to Clear Congress
Congress is set to approve legislation requiring companies in the U.S. to register their true owners, plugging what many illicit-finance experts say is one of the biggest holes in U.S. anti-money-laundering rules. Lawmakers in both parties late Thursday announced an agreement to overhaul the framework for fighting money laundering. The… Read More
Ex-Uzbek Boss’s Daughter Gets Chance at Frozen $350 Million
4th December 2020
Ex-Uzbek Boss’s Daughter Gets Chance at Frozen $350 Million
Gulnara Karimova, the daughter of late Uzbek president Islam Karimov, won a court victory in Switzerland that allows her to try to unblock $350 million in frozen assets in the latest chapter of a almost $1 billion corruption scandal. A federal appeal court upheld her claim that she was the… Read More
Italian mafia probe shows banks exposure to massive alleged laundering scheme
3rd December 2020
Italian mafia probe shows banks exposure to massive alleged laundering scheme
By Scilla Alecci, ICIJ, 2 December 2020 ICIJ — Italian authorities investigated a businessman suspected of laundering billions of dollars for mafia associates using banks in a dozen countries around the world, according to the anti-mafia unit of Reggio Calabria, in Southern Italy. Roberto Recordare, an IT entrepreneur from… Read More
U.K. Court Freezes Up to $5 Billion Tied to Alleged Kazakhstan Bank Theft
2nd December 2020
U.K. Court Freezes Up to $5 Billion Tied to Alleged Kazakhstan Bank Theft
A U.K. civil court froze up to $5 billion in assets including stakes in luxury hotels, cash in bank accounts in half a dozen countries and a Burger King franchise, as part of an international legal saga that ensnared Kazakhstan’s richest businessmen, according to court documents. The Business and Property… Read More
‘MaltaFiles’ firm Credence fined €261,000 over money laundering shortcomings
25th November 2020
‘MaltaFiles’ firm Credence fined €261,000 over money laundering shortcomings
Corporate services provider Credence, which featured in an extensive European Investigation Collaborations exposé on tax avoidance in Malta, has been fined €261,000 by the Financial Investigation Analysis Unit for breaches of various money laundering obligations. Credence Corporate Advisory Services is a Maltese law firm which featured in stories on the… Read More
U.S. Banking Regulators Issue CDD Guidance for Charities, Non-Profits
20th November 2020
U.S. Banking Regulators Issue CDD Guidance for Charities, Non-Profits
U.S. federal authorities on Thursday issued fresh Bank Secrecy Act guidance for banks providing services to charities and non-profit organizations (NPOs) as part of an effort to ensure that the groups retain access to financial pipelines. The joint fact-sheet—issued by the Federal Reserve, Office of the Comptroller of the Currency,… Read More
Lashkar-e-Taiba founder guilty on two more charges of terrorism financing
20th November 2020
Lashkar-e-Taiba founder guilty on two more charges of terrorism financing
A Pakistani court on Thursday sentenced Islamist leader Hafiz Saeed, founder of Lashkar-e-Taiba (LeT), the militant group blamed by the United States and India for the 2008 Mumbai siege, to 10 years in prison on two charges of terrorism financing, his lawyer said. The sentences for the two charges –… Read More
Malaysia’s Najib seeks to depose Goldman Sachs, ex-banker in 1MDB defence
18th November 2020
Malaysia’s Najib seeks to depose Goldman Sachs, ex-banker in 1MDB defence
Former Malaysian prime minister Najib Razak asked a U.S. court on Tuesday for permission to seek documents and testimony from investment bank Goldman Sachs to help in his defence against criminal charges in Malaysia over the 1MDB financial scandal. Najib, who is on bail after being sentenced to 12 years… Read More
The man who could explain the $2 billion Wirecard mystery is missing
11th November 2020
The man who could explain the $2 billion Wirecard mystery is missing
On a cool Saturday evening in March, Jan Marsalek headed across Munich for dinner at the home of a friend. It was a welcome respite for the chief operating officer of German payment processor Wirecard AG, as the previous few weeks had been particularly exacting. Allegations of accounting fraud… Read More
Strange case of Dariga Nazarbayeva, mystery owner of Sherlock Holmes’s Baker Street address
10th November 2020
Strange case of Dariga Nazarbayeva, mystery owner of Sherlock Holmes’s Baker Street address
Who owned 221b Baker Street, the London property that served as Sherlock Holmes’s fictional home, has been a mystery worthy of an Arthur Conan Doyle novel. For five years there has been speculation about the identity f the flat’s proprietor. The Times can now reveal that the building — along… Read More
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