Featured Panama

‘MaltaFiles’ firm Credence fined €261,000 over money laundering shortcomings

Corporate services provider Credence, which featured in an extensive European Investigation Collaborations exposé on tax avoidance in Malta, has been fined €261,000 by the Financial Investigation Analysis Unit for breaches of various money laundering obligations. Credence Corporate Advisory Services is a Maltese law firm which featured in stories on the… Read More

Financial crime country lists in a fragmenting world order

Naming and shaming countries that fail to meet the international community’s anti-financial crime standards is an increasingly popular pastime. The Financial Action Task Force (FATF, the global money-laundering and terrorist-financing watchdog) has long been a proponent and has recently been joined by the EU. The EU has now developed its… Read More

Criminals use real estate transactions in PH to wash dirty money — anti-money laundering body

Criminals are using real estate transactions to launder dirty money in the Philippines, a top official of the Anti-Money Laundering Council revealed. AMLC Executive Director Atty. Mel Racela confirmed this during a Senate hearing on Wednesday after lawmakers asked him why real estate developers and brokers should report cash transactions… Read More
26th October 2020
Switzerland’s Julius Baer will withhold millions of francs in bonuses from two former chief executives after an internal investigation faulted the pair for failing to protect the bank from a South American money laundering scandal, the Financial Times reported. The Swiss wealth manager is seeking to withhold more than… Read More
23rd October 2020
AP – A German arrest order for two Panamanian lawyers whose firm was at the center of an international tax evasion scandal faces a substantial obstacle: Panama’s constitution prohibits the extradition of its citizens. Juergen Mossack and Ramón Fonseca are sought by Cologne prosecutors on charges of being an… Read More
22nd October 2020
Altaf Khanani was considered one of the world’s most-wanted money launderers. The Pakistani fraudster was involved in the illicit international movement of money between countries like Pakistan, the United Arab Emirates, the US, the UK, Canada and Australia. His organization also moved money for drug cartels and terrorist groups such as Hezbollah and al-Qaida. After a massive hunt… Read More
21st October 2020
Germany has issued international arrest warrants for the two founders of the firm at the center of the tax haven scandal exposed by the Panama Papers data leak, German media reported. Mossack Fonseca founders Juergen Mossack and Ramon Fonseca, suspected of tax evasion and associating with criminals, will be arrested… Read More
14th October 2020
By Šarūnas Černiauskas, Vlad Lavrov and Stas Ivashkevich, OCCRP, 13 October 2020 OCCRP — In December 2010, Alexander Lukashenko celebrated his fourth reelection as the president of Belarus. The fight was far from fair: Lukashenko’s rivals argued that the dictator had abused his power to secure the win. The international… Read More
6th October 2020
Jersey’s population is no bigger than that of Dover. And yet companies and people on the Channel Island invest more money into the UK than those in China or Germany – £112bn a year. It has £1 trillion sitting in its trusts, companies, funds and foundations, according to a report… Read More
29th September 2020
Julius Baer Group Ltd. is deciding whether to start a wealth-management business in the U.S. as it seeks partnerships or acquisitions in its core Latin American markets. “I would not be doing my job as somebody that is totally committed to making our Americas’ business a top competitive business… Read More
24th September 2020
In the Kerch Strait off the Crimean coast, a dangerous undertaking cost 20 people their lives. On January 21, 2019, crews on two tankers were transferring liquified petroleum gas (LPG) from one ship to another at sea. Something went wrong and there was a terrible explosion. Both ships quickly… Read More
26th August 2020
A country estate in a Shropshire hamlet is at the centre of an international scandal involving the Spanish royal family, mysterious offshore companies and secret agents. Chyknell Hall near Bridgnorth has taken centre stage in the drama thanks to its prominent yet elusive resident, Corinna zu Sayn-Wittgenstein, the one-time… Read More
24th August 2020
OCCRP – Since the devastating explosion of a store of ammonium nitrate in Beirut’s port on August 4, Lebanese citizens have taken to the streets in shock, outrage, and grief. Above all, they have demanded answers: Where did the nearly 3,000 tons of explosive chemicals come from, and who… Read More