A Fishy Business: Shifting Profits Out of Africa
21st July 2020
A Fishy Business: Shifting Profits Out of Africa
By Margot Gibbs, Finance Uncovered, 20 July 2020 OCCRP — Leaked documents and an affidavit from a whistleblower working at a major Western fishing company operating in African waters have given rare insight into how food multinationals can shift profits around the world to avoid paying taxes in developing countries. Read More
Zimbabwe accuses biggest phone company of money laundering
20th July 2020
Zimbabwe accuses biggest phone company of money laundering
Zimbabwe’s police have accused Econet Wireless Ltd., the country’s dominant mobile phone company, of money laundering, demanded a list of its subscribers and issued a search warrant against it. The move escalates a clash between the government and company whose money transfer service facilitates the bulk of transactions in the… Read More
France, Germany, Italy threaten sanctions over arms for Libya
20th July 2020
France, Germany, Italy threaten sanctions over arms for Libya
The leaders of France, Germany and Italy on Saturday threatened for the first time to use sanctions against countries that continued to violate a United Nations arms embargo on Libya. French President Emmanuel Macron, German Chancellor Angela Merkel and Italian Prime Minister Giuseppe Conte urged “all foreign actors to end… Read More
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
Popular

FinCEN Files: Banks Flagged Felix Sater for $100 Million In Suspicious Activity

The FinCEN Files: Asking the Right Questions

The fastest way to send criminal cash: money transmitters

Deutsche Bank Fined $16 Million by German Prosecutors in Danske Probe

US, UK fight foreign bribery but most nations do very little

Must Read

The AML System: A Failure of Statecraft?

Goldman Poised to Pay More Than $2 Billion in DOJ’s 1MDB Probe

How ING bank in Poland helped Russians launder money

6 money laundering reforms that experts say need to happen right now

U.S. Treasury’s FinCEN Issues $60 Million Penalty Against Operator of Bitcoin ‘Mixers’