Amazon: Prime Time for Penalties
20th July 2020
Amazon: Prime Time for Penalties
On July 8th, the Office of Foreign Assets Control (OFAC) announced a settlement agreement with Amazon.com, Inc (“Amazon”) for a large number of violations across a wide spectrum of OFAC’s sanctions programs (the agreement published by OFAC lists 14 sets of regulations and Executive Orders). While the total amount… Read More
US authorities move to seize ex-Gambia dictator’s mansion
17th July 2020
US authorities move to seize ex-Gambia dictator’s mansion
AP — Former Gambian President Yahya Jammeh used bribery proceeds and stolen government funds to buy a mansion in a suburb of Washington, D.C., U.S. authorities allege in a lawsuit seeking to seize the property. The west African nation’s longtime dictator conspired to launder roughly $3.5 million in “corruption proceeds”… Read More
Money for Nothing: South Africa paid a firm millions for pretending to manage its properties
17th July 2020
Money for Nothing: South Africa paid a firm millions for pretending to manage its properties
By Khadija Sharife and Mark Anderson, OCCRP, 15 July 2020 OCCRP – A South African investment firm linked to the infamous Gupta family of businessmen charged a major state-owned company US$2.8 million for property management services that it never provided, OCCRP has discovered. The services were part of an… Read More
Fraud, money laundering and cybercrime: how Covid-19 has changed the threat to banks
16th July 2020
Fraud, money laundering and cybercrime: how Covid-19 has changed the threat to banks
In early May, border force officers at the UK’s bustling Dover port intercepted a shipment described as “medical supplies”, apparently addressed to a London hospital. However, concealed under medical dry ice, police found more than a quarter of a tonne of cocaine, carrying a street value of as much as… Read More
U.S. Imposes Sanctions on Network for Allegedly Helping Blacklisted Russian Businessman
16th July 2020
U.S. Imposes Sanctions on Network for Allegedly Helping Blacklisted Russian Businessman
The U.S. imposed sanctions on a network of individuals and entities it claims helped Russian businessman Yevgeniy Prigozhin evade U.S. sanctions. The Treasury Department blacklisted Mr. Prigozhin in 2018 for his alleged involvement in interfering with U.S. elections and the alleged financing of the Internet Research Agency. IRA, a… Read More
Court ties dos Santos to ‘fraudulent’ diamond deal as Portugal further freezes out billionaire
15th July 2020
Court ties dos Santos to ‘fraudulent’ diamond deal as Portugal further freezes out billionaire
An Angolan court has labeled a deal between the African country’s diamond company and Isabel dos Santos’ husband as “fraudulent” and harmful to average Angolans, according to a newly released decision. The 44-page ruling by the Provincial Court of Luanda, released publicly earlier this month, prevents Banco BIC, partly… Read More
Regulators plot path for cross-border payments to counter Facebook
15th July 2020
Regulators plot path for cross-border payments to counter Facebook
Streamlining anti-money laundering checks, longer central bank opening hours and linking national systems would cut cross-border payment costs, global regulators said on Monday. Payments have come under the spotlight since Facebook proposed its Libra digital stablecoin, prompting central banks to think about launching their own digital currency. A report by… Read More
Cybercrime: Nigeria Police, Interpol Arrest Three Suspects In Edo
13th July 2020
Cybercrime: Nigeria Police, Interpol Arrest Three Suspects In Edo
Operatives of the Nigeria Police Cybercrime Unit and the INTERPOL National Central Bureau (NCB), Abuja, have arrested three suspects over advance fee fraud, money laundering and romance scam. The Force Public Relations Officer (FPRO), Mr Frank Mba, disclosed this in a statement on Sunday in Abuja. He said the suspects… Read More
The Cycle of Kleptocracy: A Congolese State Affair
13th July 2020
The Cycle of Kleptocracy: A Congolese State Affair
Last month, more allegations emerged surrounding the Congolese presidential family’s ill-gotten gains. In Florida, US federal prosecutors took steps to seize a Miami penthouse of Denis Christel Sassou-Nguesso, son of Republic of Congo’s president, a sitting member of parliament and former powerful figure in the national oil company, SNPC. Read More
Nigerian president removes anti-corruption body boss
13th July 2020
Nigerian president removes anti-corruption body boss
Nigerian President Muhammadu Buhari on Friday ordered the immediate suspension of the Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, and instituted an investigation against him for his alleged involvement in various cases of financial irregularities. A statement issued from the president’s office stated that Magu was… Read More
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