30th July 2020
Serbia’s Finance Ministry has launched a terrorist financing and money laundering probe into journalists and nongovernmental organizations that critics say is a blatant attempt at intimidation by President Aleksandar Vucic’s government. The ministry has requested bank information since the start of 2019 from 20 individuals and 37 nongovernmental organizations and… Read More
29th July 2020
Sparkasse Bank has been fined €217,000 for anti-money laundering breaches by the Financial Intelligence Analysis Unit. The Austrian bank was used by Portmann Capital Management, which was identified as the suspect investment firm named in US Homeland Security Investigations investigating illegal payments from the Venezuelan state oil company to top… Read More
29th July 2020
The European Union imposed sanctions on China over its treatment of Hong Kong on Tuesday, inching the bloc closer to the Trump administration’s more hawkish stance toward Beijing. The sanctions include limiting exports of equipment China could use for repression and reassessing extradition arrangements in light of Beijing’s imposition of… Read More
29th July 2020
Collapsed payments processor Wirecard AG miscoded gambling transactions and had high levels of stolen card purchases and reversed transactions, leading to hefty fines from card networks Visa Inc. and Mastercard Inc., according to people familiar with the matter. Visa and Mastercard each imposed fines exceeding $10 million… Read More
29th July 2020
The Tax and Customs Board (MTA) wants to extend the list of key national security positions requiring due diligence measures in the fight against money laundering. “We propose extending the list … to the post of Chief of the Intelligence Center (kaitseväe luurekeskus), Deputy Director General of the Internal Security… Read More
29th July 2020
Five core members of a transnational online credit-card fraud syndicate, believed to be operating from Hong Kong, were arrested this month by the Hong Kong Police Force (HKPF). The syndicate allegedly used credit card details, which were stolen via phishing emails from cardholders in Singapore, to make a series of… Read More
28th July 2020
Syrian businessman Rami Makhlouf revealed on Sunday he had set up a web of offshore front companies to help President Bashar al Assad evade Western sanctions, in a social media post blasting the government for investigating his business empire. One of Syria’s richest and most powerful businessmen, Makhlouf said security… Read More
28th July 2020
Military contractors linked to the Kremlin have seized control of two of Libya’s largest oil facilities in recent weeks, heightening tensions between Russia and the U.S. over Moscow’s growing footprint in the turbulent North African nation. Since June, armed fighters from the Wagner Group, a Russian firm with ties to… Read More
28th July 2020
An attempt to introduce an “unexplained wealth order” law by the justice minister has been placed on the backburner, according to a Cabinet source. Although the reason is unclear, the legal proposal for executive powers to clamp down on unexplained wealth and the accumulation of assets such as cars, boats… Read More
28th July 2020
A Mastercard executive allegedly was involved in a money-laundering operation at a bank accused of terrorist financing and organised crime that had links to Wirecard, the disgraced German payments group. A report commissioned by the owners of FBME Bank in Cyprus uncovered evidence of apparent criminal activity, including an… Read More