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20th November 2019

BNP Paribas Revamps Compliance After Sanctions Violations Settlement

Five years after agreeing to pay a record fine for sanctions violations, BNP Paribas S.A. has made structural changes to its compliance division—an effort to strengthen the independence of the bank’s compliance function and improve ethical culture. The efforts have included setting compliance as an independent function that… Read More

20th November 2019

Fishrot Files: Icelandic Bank Investigations Into Samherji Bribes, Tax Evasion Begin

Two Icelandic banks are already investigating the accounting of Samherji—the Icelandic fishing giant currently embroiled in a scandal involving bribing Namibian officials for fishing quotas, and using a shell company in a tax haven to squirrel away the proceeds, Vísir reports. Samherji’s activities were brought to light last… Read More

19th November 2019

Privinvest Salesman Takes Stand in Mozambique Corruption Trial

For six weeks Jean Boustani, a Lebanese salesman at a shipbuilding company, sat quietly in a New York court as prosecutors summoned 20 witnesses to support charges he defrauded U.S. investors in a $2 billion Mozambican kickback scam. On Monday, Boustani began to tell his side of the story to… Read More

18th November 2019

UK lawmaker to cast blame on global banks in South Africa Zuma corruption

British lawmaker Peter Hain will tell an inquiry on Monday that corruption under South Africa’s former president Jacob Zuma was enabled by international banks, corporations and governments which should now seek to recover the loot they helped launder. Hain’s submission on Monday to the Judicial Commission of Inquiry into State… Read More

13th November 2019

Sahel gold boom boosting jihadist coffers: ICG

Sahel gold mines are providing a new source of funding for jihadists and other armed groups and attracting recruits for them in a region where state power is weak, according to a new International Crisis Group (ICG) report published Wednesday. In Mali, Burkina Faso and Niger, “armed groups have seized… Read More

11th November 2019

INVESTIGATION: Dubai real estate links point to hidden Abacha loot

Twenty years after the controversial demise of one of Nigeria’s last military leaders, Sani Abacha, one sore thumb still aching local and international financial crime investigators is the full extent of his legacy of corruption. In the years since 2002, when the first insight into the depth of corruption during… Read More

6th November 2019

Chinese firms hit bribery and tax evasion troubles amid African corruption crackdowns

While Chinese companies are feeling the pressure of anti-graft and tax evasion crackdowns at home, some are also facing similar campaigns abroad as African countries try to stamp out corrupt practices. In the past three years, a number of Chinese-owned companies have landed in trouble with investigating agencies for… Read More

5th November 2019

OneCoin lawyer on trial for role in ‘crypto-scam’

The trial of a US lawyer accused of laundering some of the proceeds from the OneCoin cryptocurrency “scam” has begun in New York. Mark Scott is accused of routing approximately $400m (£310m) out of the US while trying to conceal the true ownership and source of the funds. Some is… Read More

28th October 2019

How Jho Low, Wanted For History’s Biggest Heist, Parked His Money at an Obscure, Kuwaiti-Owned Bank

As Jho Low was becoming the public face of an embattled Malaysian sovereign wealth fund known as 1MDB, the financier made friends in high places. He dined with Leonardo di Caprio, bought diamonds for supermodel Miranda Kerr, and even financed the film production company that made the “Wolf of Wall… Read More

25th October 2019

Ex-Credit Suisse Banker Grilled Over Testimony Inconsistencies

Former Credit Suisse Group AG banker Andrew Pearse’s seven days on the stand in the U.S. bribery trial of a salesman for shipbuilder Privinvest Group concluded with a blistering attack on his credibility. Pearse is a key government witness against Jean Boustani, who’s accused of paying millions of dollars… Read More

Must Read

Isabel dos Santos Facing Fraud Charges; Banker’s Death Linked to Investigation

Company Formation Given Undersized Role in Financial Gatekeeping, Say Experts

It May Be the Biggest Tax Heist Ever. And Europe Wants Justice.

Global Tax Crackdown Targets Central American Financial Firm

World financial intelligence group re-admits Vatican after suspension