Malta: Government official accused of money laundering
18th August 2020
Malta: Government official accused of money laundering
Malta’s consul to Shanghai was charged with money laundering on Sunday after police discovered a large sum of money hidden in his home. Aldo Cutajar, 55, was remanded in custody after being arraigned in court by the police’s Economic Crimes Unit along with his wife Isabel. The police told the… Read More
Senior employee at Mastercard was ‘involved in money laundering’
28th July 2020
Senior employee at Mastercard was ‘involved in money laundering’
A Mastercard executive allegedly was involved in a money-laundering operation at a bank accused of terrorist financing and organised crime that had links to Wirecard, the disgraced German payments group. A report commissioned by the owners of FBME Bank in Cyprus uncovered evidence of apparent criminal activity, including an… Read More
A Fishy Business: Shifting Profits Out of Africa
21st July 2020
A Fishy Business: Shifting Profits Out of Africa
By Margot Gibbs, Finance Uncovered, 20 July 2020 OCCRP — Leaked documents and an affidavit from a whistleblower working at a major Western fishing company operating in African waters have given rare insight into how food multinationals can shift profits around the world to avoid paying taxes in developing countries. Read More
Cyprus: Thousands of NGOs face purge if not properly registered, minister says
20th July 2020
Cyprus: Thousands of NGOs face purge if not properly registered, minister says
Interior Minister Nicos Nouris said on Saturday he would purge 5,000 non-governmental organisations (NGO) in the coming weeks if they did not properly register with the government. He told the Cyprus Mail that the period of three years already granted to NGOs to properly register, plus the number of extensions… Read More
Moscow front companies, tax havens tied to Assad’s ‘chemical arsenal’
13th July 2020
Moscow front companies, tax havens tied to Assad’s ‘chemical arsenal’
A Russian-Syrian business network has been accused of using Moscow front companies, tax havens in British overseas territories and European countries to transfer millions of dollars around the world for the Assad regime. The network, run by a Russian-Syrian businessman called Mudalal Khouri and his brothers, is said to have… Read More
JPMorgan Dropped Accounts That Became Bad News for Deutsche Bank
13th July 2020
JPMorgan Dropped Accounts That Became Bad News for Deutsche Bank
The trio of clients that got Deutsche Bank AG in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase and Co. Deutsche Bank moved millions of dollars across the globe for convicted sex offender Jeffrey Epstein in the past decade, and billions… Read More
Cyprus shipping takes risk-based approach to sanction guidelines
22nd June 2020
Cyprus shipping takes risk-based approach to sanction guidelines
The US Office of Foreign Assets Control (OFAC) on June 5 issued guidance on sector-based sanctions regarding doing business with Iran contained in Iran-Related Executive Order (EO) 13902, which was issued in January 2020. This publication by the Treasury Department agency complements the extensive guidance issued on May 14… Read More
Armenia’s Golden Palaces: Offshore Millions Evaded Investigators
9th June 2020
Armenia’s Golden Palaces: Offshore Millions Evaded Investigators
By Vahe Sarukhanyan and Edik Baghdasaryan, OCCRP, 5 June 2020 OCCRP — When the coronavirus hit Armenia in early March, those who had been exposed to the first confirmed patient were ushered to the mountain resort town of Tsaghkadzor and quarantined at the posh Golden Palace Hotel Resort & Spa. Read More
Dethroned Azerbaijani Elites Made Big Investments in Europe
2nd June 2020
Dethroned Azerbaijani Elites Made Big Investments in Europe
OCCRP—When Eldar Mahmudov fell out of favour with Azerbaijan’s government, he fell hard. In October 2015, the country’s national security minister was dismissed from his powerful role by a presidential order. Within days, wild stories peppered local media outlets about raids on his villa, where police discovered glass jars… Read More
Scandal-hit states oppose plan for EU scrutiny of money laundering
22nd May 2020
Scandal-hit states oppose plan for EU scrutiny of money laundering
A plan to boost European Union powers to curb the flow of dirty money through banks faced resistance at an EU meeting from member states recently hit by major money-laundering and financial fraud scandals, three officials told Reuters. The EU is discussing how to strengthen its scrutiny of the financial… Read More
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