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Leaked EU draft proposes all-encompassing laws for crypto assets

A leaked version of rules to be issued later this month by the European Commission proposes an all-encompassing set of regulations covering the trading or issuance of digital assets across the 27-nation bloc. Europe’s Markets in Crypto-Assets (MiCA) draft legislation provides legal certainty around crypto assets – cryptocurrencies, security… Read More

Cypriot Passport Bought by Shadowy Ally of Cambodian Interior Minister

With a goatee beard and an impish demeanor, 33-year-old Chen Zhi makes for an unlikely “oknha,” the honorific title bestowed on businessmen who donate at least $500,000 to public works approved by the ruling Cambodian People’s Party. Such sums are pocket change to the likes of Chen, one of a… Read More

First glimpse of new EU human rights sanctions

International perpetrators of genocide and torture, but not corruption, are to face new-model EU sanctions, a leaked document shows. Those guilty of crimes against humanity, slavery, extrajudicial killings, enforced disappearances, and arbitrary arrests will also face EU asset-freezes and visa-bans. And those responsible for human-trafficking, sexual violence, and abuses of… Read More

14th September 2020

Big European states call for cryptocurrency curbs to protect consumers

Germany, France, Italy, Spain and the Netherlands called on the European Commission to draw up strict regulation for asset-backed cryptocurrencies such as stablecoins to protect consumers and preserve state sovereignty in monetary policy. The finance ministers of the five European Union member states said in a joint statement on Friday… Read More

11th September 2020

EU banking watchdog calls for single set of anti-money laundering rules

The European Union should create a single set of rules that are binding on member states to deal more effectively with money laundering and terrorist financing, the bloc’s banking watchdog said on Thursday. The European Banking Authority (EBA) said strengthening EU laws would plug gaps and tackle divergent national approaches… Read More

11th September 2020

Criminals increasingly targeting EU green funds, says anti-fraud agency

Fraudsters in Europe are increasingly targeting European Union funds intended for environmental and sustainable projects. It came as the bloc planned to unlock €1 trillion in green investments over the coming years. In its latest report released on Thursday, the European Anti-Fraud Office (OLAF) said that it concluded 181 investigations… Read More

11th September 2020

EU Council President urges action on Belarus sanctions

European Council President Charles Michel has called for faster consideration of sanctions against officials in Belarus after the detention of multiple opposition leaders. “Political persecution in Belarus including detentions on political grounds and forced exile must stop,” Michel tweeted Wednesday. “Belarusian authorities must free political prisoners and let citizens exercise… Read More

10th September 2020

Monaco hunts oil-bribery whistleblower in EU

A whistleblower who exposed massive bribery at a Monaco-based oil firm is now being hunted in Europe, in a test of its extradition system. Jonathan Taylor, back in 2013, revealed that his former employer, SBM Offshore, had routinely paid bribes to foreign governments, for instance in Angola, Brazil, and Equatorial… Read More

10th September 2020

Explainer: How Bulgaria became the EU’s mafia state

For two months, Bulgarians have packed the streets every night to protest that an oligarchic mafia has captured the state and extended its reach deep into institutions such as the judiciary, media and security services. They are demanding the resignations of Prime Minister Boyko Borissov and Chief Prosecutor Ivan… Read More

9th September 2020

EU FinCrime Chief Eager to Crack Down on Money Laundering

By David Klein, OCCRP, 9 September 2020 OCCRP — The EU plans to close the legislative and technical loopholes that allow money laundering to remain rampant in many EU states, Raluca Pruna, the head of the European Commission’s Financial Crime Unit, said in an interview with AML intelligence last… Read More

8th September 2020

Malta gets another downgrade at crucial juncture for financial services industry

Malta’s lucrative financial services industry and its international ranking has suffered another blow as the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has downgraded the island’s standing to “partially compliant”. This downgrade ranks Malta as one of the countries with the lowest standards in the… Read More

7th September 2020

German foreign minister threatens Russia with sanctions over Navalny poisoning

Germany, the current head of the European Union, will discuss possible sanctions on Russia over the poisoning of Alexei Navalny if the Kremlin does not provide an explanation soon, its foreign minister said Sunday. Russian opposition leader Navalny fell ill on a flight last month and was treated… Read More

7th September 2020

Cyprus to strip seven of citizenship in passports probe

Cyprus is to start moves to strip seven people of Cypriot citizenship for violating the terms of a passport-for-investment scheme, the island’s president told AFP on Friday. In the past “there were some deficiencies or loopholes in the programme. And that’s why we have adopted so many steps … to… Read More

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