18th November 2019
Investigations into money laundering at Danske Bank A/S should be expanded to include the lender’s possible use of gold as a way to help clients in Estonia hide their fortunes, according to Danish lawmakers. “Danske Bank has some explaining to do,” Torsten Schack Pedersen, a Liberal Party member on… Read More
18th November 2019
A British company regulated by the City watchdog has links to a notorious cryptocurrency exchange at the centre of a US money laundering trial, according to anti-corruption investigators. Global Witness, an anti-corruption NGO, has uncovered fresh evidence of connections between Mayzus Financial Services (MFS), a Russian-owned company incorporated in the UK,… Read More
13th November 2019
Europe’s threat to trigger a mechanism that could reimpose United Nations sanctions on Iran marks a significant breakdown in diplomacy to try to save the 2015 nuclear deal and could presage its death knell, diplomats say. Britain, France and Germany have sought to salvage the pact, under which Iran undertook… Read More
11th November 2019
The European Union’s largest states are pushing for the establishment of a new supervisory authority that would take over from states the oversight of money laundering at financial firms, after a series of scandals at the bloc’s banks. In a joint statement, Germany, France, Italy, Spain, the Netherlands and Latvia… Read More
8th November 2019
A French court on Thursday upheld preliminary criminal charges against one of France’s biggest companies over allegations that it financed the Islamic State and other armed groups in Syria, while putting the lives of its employees there in danger. In its ruling, the Court of Appeal in Paris also said… Read More
5th November 2019
UBS Group AG is set for a Paris retrial in June to fight its conviction and record 4.5 billion-euro ($5 billion) fine for helping wealthy French clients stash undeclared funds in offshore accounts. Judges at the Paris Court of Appeals said on Monday the UBS retrial will run… Read More
25th October 2019
The Financial Industry Regulatory Authority said Thursday it fined BNP Paribas SA $15 million for failing to develop an anti-money-laundering program that could detect suspicious penny stock and wire transfer activity. The fine relates to activity from BNP Paribas Securities Corp. and BNP Paribas Prime Brokerage Inc. Finra said… Read More
21st October 2019
Major European players are joining forces to block Facebook’s proposed digital currency because of the dangers it poses to national sovereignty, French Economy Minister Bruno Le Maire announced Friday. The firm opposition from France, Italy and Germany added to the mounting resistance faced by the tech giant’s troubled foray into… Read More
14th October 2019
European Union taxpayers held assets worth at least $1.6 trillion offshore in 2016, equal to nearly 10% of the bloc’s output, the European Commission said on Friday, estimating tax revenue losses at around $50 billion a year. In a report, the Commission said taxpayers in the Mediterranean islands of Cyprus… Read More
7th October 2019
Judging by the fleet of supercars parked in the grounds of Geneva’s Bonmont Golf and Country Club last Sunday, Teodorin Obiang was not overly fussed by the size of his carbon footprint. There were 25 in total, representatives of every luxury model conceivable, from Aston Martin to Bugatti and Ferrari,… Read More