Featured Europe

Venezuela sent gold to Mali, UAE for cash, opposition claims

Venezuela sent gold to Mali in 2020 via Russian-owned planes to exchange for euros and United States dollars that President Nicolas Maduro’s government used to remain afloat despite US sanctions, an opposition representative said on Wednesday. Julio Borges, designated by Venezuelan opposition leader Juan Guaido as his chief overseas envoy,… Read More

EU watchdog urges tighter rules to prevent another Wirecard scandal

European Union rules on company financial information need to be updated to apply the lessons of the collapse of German payments firm Wirecard, the bloc’s securities watchdog said on Wednesday. The European Securities and Markets Authority (ESMA) said in a report in November there were deficiencies in how Germany’s securities… Read More

France’s Prudential Regulator Fines ING Bank €3 Million for AML Lapses

ING Group’s unit in France will pay €3 million to address anti-money laundering (AML) and counterterrorism financing compliance shortcomings identified by the country’s prudential regulator. The banking group, which acknowledged the fine in a statement Tuesday, said the enforcement action stemmed from a 2018 inspection by the Autorité de Contrôle… Read More
4th March 2021
Cyprus plans to launch a register in coming months identifying the owners of thousands of companies on the island, lifting a veil of secrecy on opaque and complex corporate structures that campaigners say can help criminals seeking to hide their loot. Details of thousands of companies domiciled on the island,… Read More
4th March 2021
Embattled financial startup Greensill Capital plans to file for insolvency in the U.K. this week, as it simultaneously moves toward a deal to sell its operating business to Apollo Global Management, according to people familiar with the matter. Also Wednesday, in a dramatic ratcheting up of Greensill’s problems, Germany’s… Read More
4th March 2021
More than 20 years ago, a group of former salesmen for Houston software entrepreneur Robert Brockman sued their old boss, claiming in court that he had deprived them of commissions by directing a portion of customer payments to a Cayman Islands entity. Mr. Brockman twice appealed to the Texas… Read More
4th March 2021
Sanctions have prohibited companies from doing business with the Russian authorities controlling Crimea for more than six years, but Western participation in the development of a bold, seagull-inspired opera house flies in the face of that ban. The Sevastopol State Opera and Ballet Theater, designed by the avant-garde Austrian architectural… Read More
3rd March 2021
Lithuanian businessman Rimandas Stonys, active in the energy area, has been detained as part of an investigation into a fuel VAT fraud scheme, sources confirmed to BNS on Tuesday. LNK News reported on Tuesday that Stonys was being questioned in Kaunas. Stonys is the owner of Kauno Termofikacinė Elektrinė and… Read More
3rd March 2021
The Montenegrin government on Monday dismissed senior police officer Zoran Lazovic after the ruling coalition lobbied for him to step down because of his alleged ties to organised crime groups, which he has denied. The Interior Ministry also axed six other police directors’ assistants. One of the blocs in the… Read More
3rd March 2021
AP — A Paris court found French former President Nicolas Sarkozy guilty of corruption and influence peddling on Monday and sentenced him to a year in prison. He can ask to serve that time at home and also plans to appeal. The 66-year-old, who was president… Read More
3rd March 2021
A 22-year-old man who was arrested today is suspected of storing over €120,000 in his bank account which was stolen by an organised crime gang in a €1.1m fraud. The suspect who has been described as a “money mule” is the second young man to be arrested as part of… Read More
3rd March 2021
By Julett Pineda Sleinan, OCCRP, 2 March 2021 OCCRP — German police arrested eight people aged between 24 and 55 and searched dozens of premises throughout the country as part of a mega operation that targeted right-wing groups allegedly involved in drug and arms trafficking and money… Read More
3rd March 2021
A Romanian court sentenced a former government minister as well as the daughter of former president Traian Basescu to jail on Tuesday for money laundering and instigating others to take bribes in a 2009 presidential campaign financing case. The court in Bucharest gave Ioana Basescu, a public notary, a five-year… Read More