Featured Americas

Citigroup, BNP caught up in U.S. case against Huawei CFO: documents

U.S.-based Citigroup Inc (C.N) and French bank BNP Paribas (BNPP.PA) are caught up in the U.S. criminal case against the chief financial officer of China’s Huawei Technologies, according to newly available documents. The banks were named in documents released on Tuesday after a hearing in British… Read More

France, Panama to launch bilateral body to fight tax evasion

France and Panama have signed a bilateral agreement in Panama City to create a group designed to curb tax fraud, announced Gérald Darmanin, French minister of public accounts. The move comes years after Panama was blacklisted amid the Panama Papers tax evasion scandal. “With Panama’s Minister of Economy and Finance, Hector Alexander, we… Read More

Dominican’s largest drug trafficking gang dismantled after raids, says prosecutor

The Dominican Republic’s top prosecutor said on Tuesday that the Caribbean nation’s largest drug trafficking gang has been dismantled, a group that allegedly used two former professional baseball players to launder assets. Former Major League Baseball pitcher Octavio Dotel was arrested earlier on Tuesday, while Luis Castillo, also a former… Read More
21st August 2019
The Brazilian government on Tuesday issued a decree moving the Financial Activities Control Board (Coaf), which monitors nefarious financial activity such as money laundering, into a new Financial Intelligence Unit under central bank control. The measure, published in the Official Gazette, gives power to the central bank president to appoint… Read More
21st August 2019
Mexican authorities are preparing to file more criminal charges against the former head of state oil company Petróleos Mexicanos, expanding the scope of the anticorruption efforts launched by the government of President Andrés Manuel López Obrador. Emilio Lozoya, the former CEO of Pemex, has been at large since late May,… Read More
21st August 2019
A Honduran court convicted the wife of former President Porfirio Lobo on graft charges, including siphoning funds from programs designed to help poor children, a judicial official said on Tuesday. Rosa Elena Bonilla was found guilty of diverting some 18.3 million Honduran lempiras ($779,000) in public funds plus international donations… Read More
21st August 2019
Shell companies—specifically, of the illicit sort—have so long been entangled with the concept of money laundering that one term often evokes the other.  But after decades of acknowledging the problems associated with anonymous corporate ownership, and with little to show in the way of preventing the misuse of shell… Read More
20th August 2019
A trade finance company has been fined for allegedly buying and collecting debt of a blacklisted entity, the Treasury Department said Friday. A U.S. subsidiary of Dutch trade finance insurer Atradius NV agreed to pay more than $345,000 to settle allegations that it violated U.S. sanctions, according to a statement… Read More
20th August 2019
The Saskatchewan government is set to introduce amendments to protect against criminal acts like money laundering— even if it’s a bit late. Money laundering is estimated to be worth $6.5 billion across Saskatchewan and Manitoba alone, according to a report from former B.C. attorney general and Simon Fraser University professor, Maureen… Read More
20th August 2019
China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South American exporter, three sources with direct knowledge of the matter told Reuters on Monday. The Trump administration in early August froze all Venezuelan government assets in the United… Read More
19th August 2019
The prospect of hefty fines for skirting U.S. sanctions on Venezuela has made some banks skittish about doing business with the humanitarian organizations distributing food and other supplies in the troubled South American country. Independent nonprofit groups in Venezuela have had U.S. bank accounts closed and transactions frozen as financial… Read More
16th August 2019
Ziraat Bank, Turkey’s largest bank by assets, has stopped offering services to Venezuela’s Central Bank in wake of tougher U.S. sanctions that raise the stakes for companies that do business with the Caribbean nation. The Ankara-based state bank confirmed the closing of its account without providing further details. Venezuela’s… Read More
15th August 2019
Canadian PM Justin Trudeau violated federal conflict of interest rules in the handling of a corruption inquiry, the federal ethics tsar has found. The ethics commissioner says Mr Trudeau improperly tried to influence a former minister in the SNC-Lavalin affair. The prime minister says he accepts the commissioner’s report but… Read More