7th August 2019
HSBC’s Swiss private banking arm has agreed to pay nearly 300 million euros ($336 million) to settle a tax fraud case in Belgium, Belgian prosecutors said on Tuesday, the latest blow for the Alpine state’s banking sector from the EU. The settlement comes after a French court in February ordered… Read More
12th July 2019
A fugitive luxury jeweler, who was initially dropped from the U.K.’s high-profile Tabernula insider-trading case because he was too ill, was convicted of laundering the proceeds of the scheme with the help of offshore companies and false invoices, the financial regulator said. Richard Baldwin set up a company in Panama… Read More
6th June 2019
By Heather Vogell, ProPublica The owners of a 70-story Panama City hotel tower formerly managed by President Donald Trump’s companies are accusing them of stiffing the Panamanian government. In a legal filing Monday in an ongoing lawsuit in Manhattan federal court, private equity manager Orestes Fintiklis and the company he… Read More
6th May 2019
AP — A cattleman held on to a narrow lead over a businessman late Sunday as returns came in from Panama’s tightest presidential election in recent years, following a campaign that focused on corruption and slowing economic growth in this Central America trade and financial hub. The Electoral Court said… Read More
7th March 2019
The 28 member states of the European Union all backed a decision on Thursday to reject a proposal from the EU executive to add Saudi Arabia to a blacklist of countries suspected of being lax on terrorist financing and money laundering. The decision comes after pressure from Riyadh and other… Read More
15th February 2019
The European Commission on Tuesday adopted a list of countries it says has weak anti-money laundering and terrorist financing regimes, and urged banks to increase customer due diligence (CDD) checks on customers and firms from the blacklisted states. The list was established after an ‘in-depth’ analysis, the Commission explained, and… Read More
5th February 2019
An accountant alleged to have committed financial crime offences related to the Panama Papers has appeared in court, according to the International Consortium of Investigative Journalists (ICIJ), which published details of the scandal when it first broke. Richard Gaffey pleaded ‘not guilty’ before the District Court for the Southern District… Read More
24th January 2019
A solicitor, who was also a money laundering reporting officer (MLRO), has been fined £45,000 for failing to conduct anti-money laundering checks for wealthy clients believed to be linked to the Panama Papers scandal. Khalid Mohammed Sharif, a partner at London-based Child & Child, was involved in the law firm’s… Read More
6th December 2018
The United States Department of Justice has charged four individuals with tax fraud and money laundering in connection with an alleged illegal scheme perpetrated by Mossack Fonseca, the law firm central to the Panama Papers data leak. The individuals, known to be professionals, comprised a US-based accountant, an investment… Read More
30th November 2018
Police officers in Frankfurt raided the offices of Deutsche Bank regarding a Panama Papers investigation, which is believed to involve facilitating money laundering in tax havens. Deutsche Bank confirmed raids occurred on Thursday morning, saying in a statement: “We confirm that the police are currently conducting an investigation at… Read More