Featured Iceland

Criminals use real estate transactions in PH to wash dirty money — anti-money laundering body

Criminals are using real estate transactions to launder dirty money in the Philippines, a top official of the Anti-Money Laundering Council revealed. AMLC Executive Director Atty. Mel Racela confirmed this during a Senate hearing on Wednesday after lawmakers asked him why real estate developers and brokers should report cash transactions… Read More

Anti-money laundering agency keeps Pakistan on watch list

A global anti-money laundering watchdog kept Pakistan on its monitoring list asking the South Asian nation to improve controls on terrorist financing while lauding authorities for recent progress. The Financial Action Task Force strongly urged Pakistan to complete its action plan by February, following a three-day meeting. Pakistan has largely… Read More

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
16th January 2020
The Anti-Corruption Commission (ACC) has confirmed investigating another law firm, Ellis Shilengundwa Incorporated, in connection with funds deposited into their bank account by the National Fishing Corporation of Namibia (Fishcor). Ellis & Partners Incorporated was established in 1997 by renowned lawyer Phillip Ellis. Ellis, however, left the law firm in… Read More
3rd December 2019
Several figures close to Namibian President Hage Geingob have been filmed discussing the laundering of political contributions, an Al Jazeera investigation has revealed. In Anatomy of a Bribe, Al Jazeera’s Investigative Unit exposes corruption in Namibia‘s fishing industry, implicating the country’s now former minister of fisheries and marine resources,… Read More
2nd December 2019
Police in Norway will investigate the country’s biggest bank after it was reportedly used by an Icelandic fishing company to launder money. The probe will try to determine whether DNB ASA, which is based in Oslo, committed any punishable offenses, Hedvig Moe, acting chief of the Norwegian National Authority for… Read More
20th November 2019
Two Icelandic banks are already investigating the accounting of Samherji—the Icelandic fishing giant currently embroiled in a scandal involving bribing Namibian officials for fishing quotas, and using a shell company in a tax haven to squirrel away the proceeds, Vísir reports. Samherji’s activities were brought to light last… Read More
10th October 2019
The International Monetary Fund (IMF) is asked to conduct an independent evaluation of money laundering prevention in the Nordic and Baltic region, a member of the Bank of Lithuania’s board said Wednesday. “A regional monetary prevention evaluation will be performed,” Marius Jurgilas told members of the Seimas Committee on Budget… Read More
5th July 2017
In line with the presidential decree, the Russian government extended the embargo on certain types of food from countries that had imposed sanctions on Russia, according to a document, published on the Russian government’s website on Wednesday. A ban on imports of certain types of agricultural products, raw materials and… Read More
23rd June 2017
Minister of Finance Bene­dikt Jóhann­es­son held a press conference today wherein he announced that the Icelandic government has “declared war” against tax evaders, in the wake of reports issued by two different government workgroups on imports and taxes. Benedikt is also the chairperson of the Reform Party, and his position… Read More
26th October 2016
A party that favours direct democracy, complete government transparency, decriminalising drugs and offering asylum to Edward Snowden could form the next government in Iceland after the country goes to the polls on Saturday. Riding a wave of public anger at perceived political corruption in the wake of the 2008 financial… Read More
5th April 2016
Iceland's Prime Minister Sigmundur David Gunnlaugsson is to step down after leaked documents from a Panamanian law firm showed his wife owned an offshore company with big claims on collapsed Icelandic banks, his party said. Read More
4th April 2016
REYKJAVIK:  Iceland’s opposition called on the prime minister and government to resign and planned a no confidence vote after a leak of documents stoked anger over his wife owning a tax haven-based company with large claims on the country’s collapsed banks. The allegations in the so-called Panama Papers that were… Read More