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Japanese crypto exchange accuses Binance of helping launder $9M from 2018 hack

A Japanese cryptocurrency exchange that suffered from a $60 million hack in 2018 is suing Binance for “aiding and abetting” the laundering of some of the stolen funds. According to a complaint filed by Fisco in the Northern California District Court on Sept. 14, the Japanese exchange alleged that soon… Read More

How to run a criminal network in a pandemic

“Promo Offer!” flashed up the advertisement on a Scottish vendor’s WhatsApp story, offering a discount on your next purchase if you referred five more customers. The updated price list offered further discounts for bulk buys. There was also a reminder to get orders in early, as, because of lockdown restrictions,… Read More

Japan MPs push for Hong Kong sanctions bill in wake of national security law

Japanese politicians from across the political spectrum have set up a group to discuss a bill that would impose sanctions on foreign individuals and organisations that have committed human rights abuses, with particular attention being paid to Hong Kong. The group held its first meeting on Wednesday, with 30… Read More

11th June 2020

Two retired Navy officials plead guilty in ‘Fat Leonard’ bribery prosecution

Two retired Navy officials admitted Tuesday to corrupt conduct in the “Fat Leonard” bribery scandal, adding to the nearly two-dozen guilty pleas already entered in the long-running San Diego-based prosecution. Retired Capt. David Williams Haas and retired Chief Petty Officer Brooks Alonzo Parks were indicted separately on the same day… Read More

23rd April 2020

Japanese Gangs Vie for Power Amid Pandemic

By Alessia Cerantola, OCCRP, 22 April 2020 OCCRP — Japan’s government has been criticized for its slow and inadequate response to the outbreak of the coronavirus. Japanese organized crime, meanwhile, has moved to take advantage of the crisis. The pandemic has become a new battlefield for the country’s criminal gangs,… Read More

2nd April 2020

Japan businessman paid $8.2 million by Tokyo Olympics bid lobbied figure at center of French corruption probe

A businessman who received millions of dollars for his work on Tokyo’s successful campaign to host the 2020 Olympics, which was postponed last week due to the coronavirus, said he played a key role in securing the support of a former Olympics powerbroker suspected by French prosecutors of taking bribes… Read More

25th March 2020

Fraud, Asset Tracing and Recovery in Japan

Important legal framework and static underpinnings to fraud, asset tracing and recovery schemes Japanese civil law permits the filing of an action for damages caused by fraud or tort, and provides a mechanism to enforce compulsory execution against the property of the wrongdoer based on a successful… Read More

26th February 2020

Melco under regulatory scrutiny on three continents over money laundering, bribery concerns

European regulators have identified vulnerabilities in the anti-money laundering and terrorism financing measures at Melco Resorts’ casino in Cyprus, an inquiry into Crown has heard. The Council of Europe’s anti-money laundering body, Moneyval, said in December 2019 that it had discovered “weaknesses” in compliance at the single casino on the… Read More

10th January 2020

Foreign Bribery Scandal Muddies Japan’s Casino Legalization Gamble

In December 2016, the Japanese Diet passed the integrated resorts promotion law, the first in a two-step legislative process to legalize casinos in Japan. Japan passed the promotion law shortly after the ruling Liberal Democratic Party (LDP) – the party of Prime Minister Shinzo Abe — won enough seats in… Read More

3rd January 2020

Five other lawmakers may be involved in Japan’s casino-bribery scandal

An adviser to a Chinese gambling operator under investigation for allegedly bribing Japanese lawmaker Tsukasa Akimoto over a casino resort project has told investigators that the company also gave cash to another five lawmakers, a source familiar with the matter said Thursday. Katsunori Nakazato, the adviser to 500.com Ltd., said… Read More

2nd January 2020

Ghosn’s Escape From Japan Followed Months of Planning

Carlos Ghosn’s escape to Lebanon from Japan followed months of planning by associates aimed at getting the former head of the Renault-Nissan alliance to a country they believed would provide a more friendly legal environment to try the claims of financial wrongdoing against him, according to people familiar with… Read More

30th December 2019

Danske Sued by International Investors Over Money Laundering

A group of international investors managing trillions of dollars in assets has filed what it says is the first in a series of lawsuits against Danske Bank in connection with the money laundering scandal engulfing Denmark’s largest lender. The writ, which was filed on Friday in the District Court… Read More

30th December 2019

Asia-Pacific Wealth Migration Trends Heighten Financial Crime Risk

Ongoing political demonstrations in Hong Kong are impacting APAC financial markets by accelerating wealth migration trends and increasing financial crime risk. As the risk profile in the region evolves, regulators increasingly expect financial institutions to leverage technology to meet compliance demands. This unexpected upheaval and changing regulatory landscape should serve… Read More

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