10th November 2020
Mexican President Andres Manuel Lopez Obrador urged authorities on Monday to look into a report accusing a top aide of financial impropriety, while calling it part of a media campaign aimed at bringing his administration into disrepute. Newspaper El Universal said Lopez Obrador’s private secretary Alejandro Esquer had hired shell… Read More
10th November 2020
By Héctor Silva Ávalos, InSight Crime, 8 November 2020 InSightCrime – Tegucigalpa mayor Nasry “Tito” Asfura — who has announced he will run for president in Honduras’ 2021 elections — has been named in a government investigation into the embezzlement of more than a million dollars in city funds,… Read More
9th November 2020
Juan Carlos, Spain’s exiled king, has been linked to an investigation into the transfer of millions of euros from an offshore account, part of a third corruption inquiry into his finances. Attempts to transfer funds from an active account registered in Jersey, a tax haven, were recently detected by Spain’s… Read More
5th November 2020
Germany’s financial establishment came under pressure yesterday after its handling of the collapse of Wirecard, the digital payments company, was strongly criticised by Europe’s markets watchdog. Bafin, the German regulator, faces questions about its competence and probity after the European Securities and Markets Authority said that it was deficient… Read More
4th November 2020
OCCRP — In what must have been one of the most aggressive reactions to being featured in the Panama Papers, Turkish multi-millionaire Mehmet Cengiz dialed up a Turkish newsroom to threaten the journalists who worked there. “You put my face on the front page — have you no… Read More
3rd November 2020
The International Compliance Association’s BIG Compliance Festival concluded on a high note last week as financial crime expert and Compliance Week columnist Martin Woods sat down with Dr. Marcus Pleyer, president of the Financial Action Task Force (FATF), for an exclusive interview. In a wide-ranging and forward-looking discussion, Pleyer emphasized… Read More
3rd November 2020
British entrepreneurs are flocking to become “e-residents” of Estonia to take advantage of company formation rules and avoid the economic fallout from leaving the European Union. The scheme, which was set up in 2014, allows non-Estonians access to services such as company formation, banking and taxation. Since then, 3,372 British… Read More
2nd November 2020
All companies have until January next year to submit to the government names of their key owners or controlling entities. This is a move to enforce the law and create transparency in shareholding of firms as the State cracks down on illicit cash flows such as money laundering and terrorism… Read More
30th October 2020
The Federal Court has heard allegations Perth businessman Chris Marco ran a Ponzi scheme of “significant proportions” which left his investors $2.1 billion short of what they could have earned if he had delivered on his promises. The corporate watchdog wants Mr Marco’s investment schemes — run through businesses including… Read More
28th October 2020
Southeast Asian countries are lagging behind in the adoption of registries with information on companies’ true owners, a tool deemed crucial to fight corruption, money laundering and terrorism financing, according to a report by the United Nations Office on Drugs and Crime. “While transparency in the banking sector is… Read More