Germany to toughen financial regulation after Wirecard scandal
27th July 2020
Germany to toughen financial regulation after Wirecard scandal
The German finance ministry has unveiled a sweeping reform of financial regulation in the wake of the Wirecard scandal, as pressure mounts on the authorities over their failure to properly police the disgraced payments company. BaFin, the financial regulator, is to be equipped with “sovereign powers” to intervene “directly… Read More
European banking regulator to probe Luanda Leaks’ allegations
22nd July 2020
European banking regulator to probe Luanda Leaks’ allegations
The European Banking Authority will probe revelations contained in Luanda Leaks, an investigation led by the International Consortium of Investigative Journalists (ICIJ) into how billionaire businesswoman Isabel dos Santos made her fortune. Confirmation of the probe follows a demand by the European Parliament for the regulator to assess… Read More
Europol helps EU’s eastern neighbours fight organized crime
21st July 2020
Europol helps EU’s eastern neighbours fight organized crime
OCCRP – A new project that will be led by Europol and financed by the European Commission will help the EU’s eastern neighbours — Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine — fight organized crime. “Located along the Black Sea and forming part of the ‘heroin route’ from the… Read More
France, Germany, Italy threaten sanctions over arms for Libya
20th July 2020
France, Germany, Italy threaten sanctions over arms for Libya
The leaders of France, Germany and Italy on Saturday threatened for the first time to use sanctions against countries that continued to violate a United Nations arms embargo on Libya. French President Emmanuel Macron, German Chancellor Angela Merkel and Italian Prime Minister Giuseppe Conte urged “all foreign actors to end… Read More
Romania, Ireland fined by EU top court over anti-money laundering rules
17th July 2020
Romania, Ireland fined by EU top court over anti-money laundering rules
The European Union’s top court fined on Thursday Romania and Ireland for delays and incomplete application of the bloc’s rules against money laundering and terrorist financing, it said in a statement. Romania was ordered to pay to the European Commission a lump sum of 3 million euros, while Ireland was… Read More
UBS will no longer be able to contest client data sent to France tax authorities: Swiss court
17th July 2020
UBS will no longer be able to contest client data sent to France tax authorities: Swiss court
UBS will no longer be informed or be able to contest customer data the Swiss tax authorities hand over to counterparties in France investigating alleged tax avoidance, a Swiss court said on Wednesday. Switzerland’s Federal Administrative Court upheld a decision to revoke UBS’s position as a party to the arrangements over… Read More
Pompeo warns of new sanctions over Nord Stream 2, TurkStream
16th July 2020
Pompeo warns of new sanctions over Nord Stream 2, TurkStream
The U.S. is moving toward sanctions against energy companies involved in Russian pipelines to Europe and Turkey, escalating a threat to punish allies for pursuing projects that the U.S. argues will only benefit Russia. As Europe’s domestic gas supplies decline, the region is becoming more dependent on imported fuel. The… Read More
Germany formally proposes first-ever use of EU cyber sanctions over Russia hacking
14th July 2020
Germany formally proposes first-ever use of EU cyber sanctions over Russia hacking
The German government has officially proposed that the European Union impose sanctions on Russian individuals responsible for a large-scale hacking of the Bundestag five years ago, the German Press Agency reported Sunday. If agreed, the plan, which was recommended by Berlin last month, would be the first use of an… Read More
‘58 foreigners bought Maltese passport without presenting birth certificate’
14th July 2020
‘58 foreigners bought Maltese passport without presenting birth certificate’
A total of 58 foreign nationals bought a Maltese passport without presenting their birth certificate in just 18 months, opposition MP Karol Aquilina is claiming. “This is further testament to the fake due diligence of this programme which is tarnishing Malta’s reputation,” he said. Aquilina divulged this “scandal” in parliament… Read More
EU sues Austria, Belgium, Netherlands over anti-money laundering rules
6th July 2020
EU sues Austria, Belgium, Netherlands over anti-money laundering rules
The European Commission said on Thursday it was suing Austria, Belgium and the Netherlands because the three countries had not fully integrated EU rules on anti-money laundering into their national laws. The 27-nation bloc’s executive cited a lack of action on EU law related to fundamental aspects of the anti-money… Read More
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