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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

Cyprus to lift veil of secrecy with register of company owners

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

Crimean Opera House Pulls Back Curtains On Russian Sanctions Loophole

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

Romanian politician and ex-president’s daughter get jail terms for money laundering, corruption

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

2nd March 2021

EBA Revises Guidelines on Money Laundering, Terror Financing Risk Factors

The European Banking Authority (EBA) on Monday published revised guidelines for money-laundering and terrorist-financing risk factors, including guidance on related risk assessments and customer due diligence (CDD) for beneficial owners. The guidelines, which are addressed to both financial institutions and supervisory authorities, separately incorporate sectoral guidance on crowdfunding platforms, corporate… Read More

2nd March 2021

Biden to hit Russia with sanctions for opposition leader Navalny’s poisoning, detention

The White House will announce President Joe Biden’s first sanctions against Russia on Tuesday over the Russian government’s poisoning and detention of opposition leader Alexei Navalny, a State Department official confirmed to ABC News. The official declined to provide details on the scope of the sanctions, but they… Read More

2nd March 2021

Iran Rejects Offer of Direct U.S. Nuclear Talks, Ratcheting Up Tension With West

Iran rejected a European Union offer to hold direct nuclear talks with the U.S. in the coming days, risking renewed tension between Tehran and Western capitals. Senior Western diplomats said Iran’s response doesn’t quash the Biden administration’s hopes of reviving diplomatic efforts to restore the 2015 nuclear deal, struck between… Read More

2nd March 2021

British American Tobacco Fights Dirty In West Africa

By Aisha Kehoe Down, CENOZO, Gaston Sawadogo, and Tom Stocks, OCCRP, 26 February 2021 OCCRP – Stashed inside pickup trucks and guarded by armed militias and jihadists, every year billions of illicit cigarettes wind their way through the lawless deserts of northern Mali bound for the… Read More

1st March 2021

EU set to sanction four Russian officials over Navalny case

EU countries reached a preliminary agreement to sanction four Russian government officials over the jailing of opposition leader Alexei Navalny, according to four diplomats. The deal was reached Friday in a technical working group of the Council of the EU, called Relex, which deals with the legal complexity of sanctions. Read More

26th February 2021

Tax transparency: MEPs mount renewed challenge over Openlux exposé

Luxembourg has dismissed accusations of rampant tax avoidance and insisted that the country respects “all the applicable European and international rules and standards in terms of tax transparency , the fight against tax abuses and the fight against money laundering and the financing of terrorism”. The duchy is reeling from relevations made public in an exercise dubbed as Openlux, a collaboration… Read More

24th February 2021

EU slaps sanctions on 19 top Venezuelan officials over election fraud

EU foreign ministers on Monday imposed sanctions on 19 leading Venezuelan officials accused of undermining democracy or violating human rights in the South American country. The officials — which include high-ranking generals and other army commanders as well as supreme court judges and senior politicians from the regime of strongman… Read More

23rd February 2021

E.U. imposes sanctions on Russian officials after Navalny imprisonment

European Union foreign ministers agreed Monday to impose sanctions on top Russian officials following the imprisonment of opposition leader Alexei Navalny, a decision that was hastened by a tense trip to Moscow by the chief E.U. diplomat earlier this month. The asset freeze and travel ban was intended to… Read More

19th February 2021

UK announces sanctions on Myanmar coup generals for ‘violations of human rights’

The UK government has imposed sanctions on senior generals in the Myanmar administration following the military coup. The country has put in place travel bans and asset freezes on three key figures in the military regime in response to human rights violations. Further safeguards have also been… Read More

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