30th September 2019
AP — Car lovers from around the world splashed out more than $27 million at an auction Sunday for dozens of luxury cars seized from the son of Equatorial Guinea’s president in a Swiss money-laundering probe. The 25 lots sold by auction house Bonhams included a white-and-cream 2014 Lamborghini Veneno roadster… Read More
24th September 2019
Equity Bank Tanzania, a subsidiary of Kenyan based Equity Group is among five banks fined a total of Sh83 million by Tanzania for flouting anti-money laundering regulations. Bank of Tanzania (BoT) said the five failed to conduct proper customer due diligence and file suspicious transaction reports to the Financial Intelligence… Read More
23rd September 2019
Tanzania’s president said on Sunday people held on charges of tax evasion, money laundering and other financial crimes should be freed if they confess and return the cash. John Magufuli said it was only a recommendation – and it was not immediately clear what impact his words would have on… Read More
20th September 2019
Lebanon’s Jammal Trust Bank has been forced to wind itself down after being hit last month by U.S. sanctions for allegedly helping to fund the Iran-backed Hezbollah movement, the bank said on Thursday. The central bank said the value of the bank’s assets, and its share of the national deposit… Read More
20th September 2019
A cabal of ruling elites and warlords in South Sudan have been propped up by a complex and global web of corruption that includes would-be American arms dealers, British business tycoons, and Chinese oil giants, according to a new report released on Thursday. The report, released by the Sentry,… Read More
19th September 2019
British Arab Commercial Bank PLC agreed to pay $4 million to settle allegations that it violated U.S. sanctions on Sudan, the U.S. Treasury Department said. The Treasury had alleged that the London-based commercial bank, with no presence in the U.S., processed payments of hundreds of millions of U.S. dollars related… Read More
19th September 2019
Members of South Africa’s controversial Gupta family have long been implicated in a series of corrupt political connections and illegal deals that have earned them millions, often in government funds. The influence of the family, now reportedly in exile in Dubai, is so all-pervasive that the affair is widely known… Read More
18th September 2019
AP — Jailed media magnate Nabil Karoui and independent law professor Kais Saied will advance to Tunisia’s presidential runoff, sending the North African nation’s young democracy into an unprecedented electoral battle. Tunisia’s electoral commission said Tuesday the two candidates came out on top of the 26 running in… Read More
16th September 2019
Belgian police are investigating allegations of corruption and money-laundering against Didier Reynders, the country’s foreign minister and the nominee to be the EU’s next justice commissioner. Reynders has denied the accusations which, according to De Tijd newspaper, relate to the construction of the Belgian embassy building in Kinshasa, the… Read More
13th September 2019
The tiny republic of San Marino has confiscated €19 million (£17 million) stashed in its banks by one of Africa’s longest-serving leaders. The money was allegedly deposited by Denis Sassou Nguesso, the president of the Republic of Congo, the former French colony also known as Congo-Brazzaville. The seizure of the… Read More