7th February 2020
A Maltese wealth management firm linked to an alleged conspiracy to embezzle over a billion dollars in Venezuelan oil money has been given a year to fix its anti-money laundering controls. The financial regulator was forced to revisit its decision to effectively suspend Portmann Capital’s operations indefinitely after the firm… Read More
3rd February 2020
Another three people have been arrested in connection with last year’s €13 million Bank of Valletta cyber heist, after €950,000 was funneled through an account in Northern Ireland. Friday’s announcement by the UK’s National Crime Agency follows the arrest of three other men in Belfast and London earlier this week. Read More
30th January 2020
Whistleblower Maria Efimova plans to pay an “independent” company to verify documents she says will name the real owner of secret offshore company Egrant Inc. The former Pilatus Bank employee has so far raised over €9,650 of the €15,000 target amount, through a fundraising campaign she started six days… Read More
28th January 2020
Malta’s foremost business lobby is “greatly concerned” with the country’s latest classification in the annual corruption perception index and has called on the new prime minister to address “allegations” concerning major contracts awarded by the government over the past seven years. Many major projects spearheaded by the Labour government, including… Read More
27th January 2020
Her website once described her as a “poet, mezzo-soprano, designer and exotic Uzbekistan beauty”. Or, as more critical voices have put it, a “robber baron” who purloined hundreds of millions of pounds in bribes. Now another facet of Gulnara Karimova has come to light: former neighbour of Sir Bruce Forsyth. Read More
23rd January 2020
A total of 237 Maltese taxpayers had featured in the Panama Papers leak, yet the police never carried out a comprehensive probe into all those individuals and companies named. One senior police source said the bulk of the investigations were carried out by the Inland Revenue Department in an administrative… Read More
23rd January 2020
The Swedish Gambling Authority (SGA) has taken a stance against money laundering and petitioned the Ministry of Finance to increase the maximum penalty of the gambling operators in violation of the Money Laundering Act. The Authority argued that, given the turnover of the larger gambling operators licensed in Sweden,… Read More
21st January 2020
If the police did nothing on reports compiled and sent by the Financial Intelligence Analysis Unit, what was the point of having these reports, former FIAU director Manfred Galdes said. He said it was suspicious that the FIAU lacked resources – and were not given any – at the time… Read More
20th January 2020
Pausing at the entrance to a star-studded bash at the Cannes Film Festival, ’90s icon Sharon Stone flashed her one-of-a-kind cuff bracelet. It was a wraparound hippo with rubies for eyes, sapphire nostrils and white diamond teeth. Its body was covered in brown, gray and white diamonds. The dazzling ornament… Read More
20th January 2020
A company that illegally processed millions of euros worth of payments for an online gambling operation will not face any criminal charges after reaching a €2.34 million settlement with the Malta Gaming Authority. An industry source familiar with the settlement said the authorities had decided to close off the case… Read More