26th October 2020
A global dirty money watchdog on Friday agreed to revamp its standards to beef up monitoring of financing aimed at evading U.S. and United Nations sanctions and proliferating weapons of mass destruction, the U.S. Treasury Department said. Endorsement of the new standards by the Financial Action Task Force (FATF) at… Read More
26th October 2020
By Lawrence Marzouk and Stevan Dojčinović, OCCRP, 23 October 2020 OCCRP – A Cypriot shell firm accused of funnelling bribes on behalf of a notorious Serbian weapons dealer deposited $1.7 million into a secretive trust fund set up for a prominent Saudi, leaked bank records show. That fund’s Qatari… Read More
23rd October 2020
Prompted by the FinCEN Files, a powerful U.K. parliamentary committee has launched a fresh anti-money laundering inquiry 19-months after it outlined findings that the nation’s response to billions of pounds in money-laundering was “fragmented.” In light of the International Consortium of Investigative Journalists’ recent investigation, the U.K. Treasury Committee… Read More
21st October 2020
By Simon Bowers, ICIJ, 20 October 2020 ICIJ — A trade group representing firms that specialize in corporate secrecy has been lobbying the British government to give its members a central role in efforts to counter the country’s reputation as a leading provider of front companies to organized crime… Read More
21st October 2020
A Faberge egg-collecting Russian oligarch who the US has hit with financial sanctions is set to benefit from the Morrison government’s gas-led recovery, it can be revealed. And a mysterious company registered in secrecy-haven Delaware is also in line to reap dividends if one of the key gas basins the… Read More
20th October 2020
Consider the current state of anti-money laundering efforts across the globe. Around 2% of global GDP is laundered annually, amounting to between $800B – $2T. Banks spend around $8B annually fighting it but affect only 0.1% of criminal finance. What we know then is that the ROI of… Read More
20th October 2020
Goldman Sachs Group Inc. has reached a long-awaited pact with the U.S. Department of Justice to pay more than $2 billion for the bank’s role in Malaysia’s 1MDB scandal, and the deal may be announced within days, according to people familiar with the matter. The accord, part of an international… Read More
20th October 2020
The Polish unit of the Dutch bank ING, ING Bank Slaski, for years allegedly helped Russian and Ukrainian oligarchs move huge sums of money out of ex-Soviet Union countries, according to the US Treasury’s fraud investigation department, FinCen. FinCen files were leaked to and published by the International Consortium… Read More
20th October 2020
By Ben Hallman, Spencer Woodman, Will Fitzgibbon and Karrie Kehoe, ICIJ, 19 October 2020 ICIJ — The biggest banks in the world are moving vast amounts of money for drug cartels, corrupt regimes, arms traffickers and other international criminals after having pledged repeatedly to do more to staunch the… Read More
19th October 2020
On a sunny Friday in late January, investigators from the Australian Tax Office issued subpoenas and fired off letters as part of an unprecedented probe that reached around the world. It was a similar scene in Amsterdam, where investigators from the Dutch tax agency set about a similar task. So,… Read More