Former PrivatBank owners used vast array of companies to steal, launder billions: DOJ
10th August 2020
Former PrivatBank owners used vast array of companies to steal, launder billions: DOJ
The Justice Department on Thursday accused a Ukrainian oligarch who has been considered an ally of Ukraine’s president of stealing billions of dollars from a bank he once owned, then using a vast array of companies to launder that money in the United States and all over the world. In… Read More
How a Notorious Arms Dealer Hijacked Niger’s Budget and Bought Weapons From Russia
7th August 2020
How a Notorious Arms Dealer Hijacked Niger’s Budget and Bought Weapons From Russia
By Mark Anderson, Khadija Sharife and Nathalie Prevost, OCCRP, 6 August 2020 OCCRP — As militant groups spread across the Sahel, the West African nation of Niger went on a U.S.-backed military spending spree that totaled about US$1 billion between 2011 and 2019. But almost a third of that money was… Read More
Company ownership registers: ‘Don’t dismiss the racial bias claims in Bermuda’
7th August 2020
Company ownership registers: ‘Don’t dismiss the racial bias claims in Bermuda’
Deputy Kirsten Morel, who chairs the Economic Affairs Scrutiny Panel, recently addressed comments made in Bermuda newspaper The Royal Gazette in an article discussing the territory’s move to introduce legislation for full transparency on company ownership by January 2023. In 2018, the UK parliament passed laws requiring the Overseas Territories… Read More
Game of Laws: Compliance in the Age of Regulatory Proliferation
6th August 2020
Game of Laws: Compliance in the Age of Regulatory Proliferation
Even if the pace at which regulations are drafted seems to be slowing down, at least at the EU-level, regulations in general are still trending toward bullish proliferation. In the financial-crime field alone, around 1,300 binding pieces of legislation have been brought to light in the span of 20 years… Read More
UK under pressure to curb cascade of illicit Russian cash
5th August 2020
UK under pressure to curb cascade of illicit Russian cash
On his way to a high-level meeting in Downing Street, deputy national security advisor Hugh Powell held to his side top-secret papers setting out the Government’s response to Russia’s annexation of Crimea. But a long-lens camera trained on officials walking in and out of Number 10  was enough to catch the… Read More
Juan Carlos fled Spain amid a dirty money probe, but where did he go?
5th August 2020
Juan Carlos fled Spain amid a dirty money probe, but where did he go?
When Spain’s royal palace announced Monday that former Spanish King Juan Carlos was leaving the country, it omitted a key detail. Where exactly had he gone? On Monday, several media outlets reported the former king had traveled to the Portuguese town of Cascais, where he spent parts of… Read More
Swiss bankers and millions in gold tied to Hugo Chávez’s former nurse
4th August 2020
Swiss bankers and millions in gold tied to Hugo Chávez’s former nurse
AP — It was 2014 and Venezuela’s former treasurer Claudia Díaz was looking for a safe haven to store the unexplained wealth she had accumulated over the years. Then-president Hugo Chávez, who she once served as a nurse, had recently died and with the election of Nicolás Maduro, the nation’s… Read More
$340m in London law firm’s account suspected of 1MDB connection
3rd August 2020
$340m in London law firm’s account suspected of 1MDB connection
Investigators probing one of the world’s largest financial frauds have said they suspect $340m (£255m) held in the bank account of a major London law firm is linked to money allegedly embezzled from the Malaysian state investment fund 1MDB. According to court papers, Malaysia’s anti-corruption agency is urgently trying… Read More
Watchdog complaint accuses Trump campaign of ‘laundering’ $170M in spending
31st July 2020
Watchdog complaint accuses Trump campaign of ‘laundering’ $170M in spending
President Donald Trump’s reelection effort allegedly hid nearly $170 million in spending from mandatory public disclosure by routing payments through companies tied to his former campaign manager, a government oversight group said Tuesday. The use of firms linked to former campaign manager Brad Parscale masked the ultimate recipients of the… Read More
Donations of £1bn trigger calls for UK parties to adopt corruption checks
31st July 2020
Donations of £1bn trigger calls for UK parties to adopt corruption checks
Political parties should adopt anti-money laundering practices to protect democracy, the elections watchdog has said in the wake of the Russia report. Parties are exempt from the regime that requires suspicious transactions of more than £10,000 to be reported to the National Crime Agency. More than £1 billion has been… Read More
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