3rd February 2020
Airbus SE has long since disbanded the so-called strategy and marketing unit at the center of its record $4 billion bribery settlement, but for years it had quite a heyday. According to documents filed by U.S. prosecutors on Friday, the 150-person team used its $300 million annual budget… Read More
22nd January 2020
Two Umno leaders were charged with money laundering yesterday, for funds allegedly received from former Malaysian prime minister Najib Razak seven years ago. Pontian MP Ahmad Maslan was slapped with two charges, namely failure to declare RM2 million (S$663,000), which he allegedly received from Najib, when filing for taxes for… Read More
16th January 2020
Eight years ago, Goldman Sachs Group Inc. bankers sold bonds on behalf of a little-known Malaysian investment fund. On Wednesday, the fallout from that deal wiped out about 13% of the bank’s 2019 profits and darkened otherwise strong results. Goldman socked away an extra $1.1 billion late last year… Read More
8th January 2020
Malaysian investigators played audio recordings of former premier Najib Razak seeking help from people including a member of Abu Dhabi royalty and former prosecutors to try to untangle himself from the 1MDB scandal in 2016. One of the clips show Najib reaching out to Abu Dhabi’s Crown Prince… Read More
8th January 2020
Bank Negara Malaysia’s (BNM) reporting institutions, especially insurance operators, Lembaga Tabung Haji (TH) and money services, will incur higher operating cost to comply with the central bank’s money laundering rulings. The central bank recently released comprehensive guidelines on anti-money laundering and countering financing of terrorism (AML/CFT) to stem illegal transfers. Read More
6th January 2020
Malaysian Anti-Corruption Commission (MACC) chief commissioner Latheefa Koya says the anti-graft body will act against those who have not paid up despite compound notices issued to them for receiving funds from 1MDB. She said among others, they could be charged in court under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds… Read More
2nd January 2020
Malaysia’s central bank, known as Bank Negara Malaysia (BNM), has issued a revised policy document on anti-money laundering/counter financing of terrorism (AML/CFT) and targeted financial sanctions (TFS), which take effect on January 1. The document provides guidelines for designated non-financial businesses and professions (DNFBPs) and non-bank… Read More
26th December 2019
Former prime minister Najib Razak is likely to remain in the glare of public attention throughout next year as he makes court appearances to face a slew of charges in five criminal cases. Three of the cases are already ongoing and these include the one in which he is accused… Read More
24th December 2019
Goldman Sachs Group Inc.is in talks with the U.S. government to pay a multibillion-dollar fine, admit guilt and agree to continuing oversight of its compliance procedures in order to resolve a criminal investigation into its role in a Malaysian corruption scandal. Goldman and the Justice Department have largely agreed on… Read More
20th December 2019
Goldman Sachs is negotiating with federal prosecutors to pay a fine of as much as $2 billion, and have a subsidiary plead guilty to settle claims about its role in a scheme to loot billions from a sovereign wealth fund in Malaysia, according to two people with knowledge of… Read More