US sanctions Venezuela vice-president over trafficking claims
14th February 2017
US sanctions Venezuela vice-president over trafficking claims
The US has imposed sanctions on the new vice-president of Venezuela, accusing him of involvement in international drug trafficking. Read More
Two men charged with illegally moving $100 million into the U.S.
22nd December 2016
Two men charged with illegally moving $100 million into the U.S.
Two men were arrested in Miami and charged Wednesday with operating an illegal money-transmission business that allowed companies in Venezuela and other South American countries to move $100 million into the U.S. Read More
Venezuela: sorry President Maduro, too late to fight corruption
22nd December 2016
Venezuela: sorry President Maduro, too late to fight corruption
Taking a lesson or two from India's Prime Minister Narendra Modi, Venezuela's President Nicolas Maduro is replacing the country's largest notes (100 bolivar) with coins of the same value to fight corruption — in the form of currency smuggling out of the country that is. Read More
KYC360 Infographic: MONEY LAUNDERING WITH TRADE FINANCE
12th December 2016
KYC360 Infographic: MONEY LAUNDERING WITH TRADE FINANCE
In our interconnected world international trade is integral to modern life. Thousands of ships flled with containers traverse the globe each day: microwaves leave a port in South Korea and arrive in Rotterdam, gold mined in Australia is utilized by jewellery manufactures in India, and oil from Venezuela is shipped to factories in China. Read More
Venezuelan football official pleads guilty to corruption charges
11th November 2016
Venezuelan football official pleads guilty to corruption charges
A Venezuelan football official faces prison and will hand over £13 million after pleading guilty to corruption charges in the US after a FIFA investigation. Read More
Venezuela court annuls Congress probe of $11 bln missing at PDVSA
28th October 2016
Venezuela court annuls Congress probe of $11 bln missing at PDVSA
Venezuela’s top court on Thursday approved an injunction against a congressional probe that found Rafael Ramirez, the former president of state oil company PDVSA, was responsible for corruption and malfeasance that cost the firm $11 billion. A congressional commission this month said the funds had gone missing during Ramirez’s time… Read More
Swiss give U.S. $51 mln in assets frozen in PDVSA investigation
26th October 2016
Swiss give U.S. $51 mln in assets frozen in PDVSA investigation
Switzerland has transferred about $51 million in formerly frozen assets to the United States in connection with an investigation into alleged corruption at Venezuela’s state oil company PDVSA, authorities said on Tuesday. The funds are linked to two Venezuelan oil magnates who have pleaded guilty in the United States to… Read More
Journalist charged in Venezuela after anti-Maduro protest
6th September 2016
Journalist charged in Venezuela after anti-Maduro protest
A prominent journalist and lawyer jailed on Venezuela’s Margarita island was charged on Monday with money laundering, according to family and a rights group, following his arrest after publicizing a protest against President Nicolas Maduro. Videos published by activists, purportedly from the locality of Villa Rosa, showed scores of people… Read More
Venezuela sentences 10 people to 22 years for cocaine on Air France flight
17th August 2016
Venezuela sentences 10 people to 22 years for cocaine on Air France flight
Venezuela’s Public Ministry on Tuesday said it sentenced 10 people to more than 22 years in prison, including three National Guard members, for trafficking a ton and a half of cocaine on an Air France flight. The Bolivarian National Guard members were respectively in charge of a drug-sniffing canine, of… Read More
New U.S. banking rules creating financial headaches in Caribbean
15th July 2016
New U.S. banking rules creating financial headaches in Caribbean
In Belize, the nation’s central bank has taken over processing international business payments after most of the country’s commercial banks have been cut off by former U.S. banking partners. In Jamaica, U.S. bank account holders are receiving notice to take their money elsewhere. And in Guyana, checks in U.S. dollars… Read More
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