8th January 2020
Diligent KYC360 readers should take note of the recent action by the US Department of Justice (DOJ) against HSBC Private Bank (Suisse) SA (HSBC) following the bank’s admission that it conspired with American customers to facilitate tax evasion. The bank entered into a Deferred Prosecution Agreement (DPA) with the… Read More
7th January 2020
AP — The International Olympic Committee will ask a German broadcaster to share evidence of alleged doping cover-ups in weightlifting and financial irregularities linked to the sport’s revenues from the games. The program broadcast Sunday by ARD implicated the International Weightlifting Federation and its long-time president, Tamas Aján, an… Read More
3rd January 2020
Two executives and a Swiss firm linked to shell companies in the Panama Papers data leak were charged in the U.S. with scamming investors in pump-and-dump schemes. Blacklight SA and the executives bought shares of small publicly traded companies and then publicized false information such as pending merger deals, prosecutors… Read More
26th December 2019
In recent weeks, CNA has been covering a Vatican financial scandal involving a multi-million-dollar investment fund, money donated by Catholics to support charity and Vatican ministries, and a pair of banks linked to money-laundering and bribery allegations. The financial scandal is one of several unfolding at the Vatican, and covered… Read More
24th December 2019
Credit Suisse Group AG blamed an ousted executive for a second spying scandal that’s shaken the bank, again painting former Chief Operating Officer Pierre-Olivier Bouee as a rogue operative who kept all executives and directors in the dark about his activities. Bouee, who was allowed to resign in October, has… Read More
23rd December 2019
The Office of the Attorney General of Switzerland (OAG) has filed an indictment against Ukrainian former lawmaker Mykola Martynenko and a second, unnamed, Ukrainian national over the suspected money-laundering of around €2.8 million (CHF3 million). The OAG said on Friday that the indictment had been filed with the Swiss Federal Criminal Court in Bellinzona against Martynenko and an unnamed Ukrainian citizen. Read More
20th December 2019
Italian police have arrested 334 mob suspects including police chiefs, lawyers and former MPs in an unprecedented crackdown on the ‘Ndrangheta mafia. The night-time raids, which involved 3,000 police and included arrests in Germany, Switzerland and Bulgaria as well as in Italy, were a huge blow to the ‘Ndrangheta mafia,… Read More
18th December 2019
US lawmakers on Tuesday approved sanctions on companies and governments working on the controversial Nord Stream 2 pipeline that will link Germany with Russian gas. Companies providing services such as pipe laying are being targeted, as Washington tries halt the completion of the $10.5 billion (€9.6 billion) pipeline, which would transport gas under… Read More
12th December 2019
John Myatt felt like his life was in free-fall.  It was the mid-1980s and at 41, he was a working painter who never made a splash—or a profit—in the London gallery scene. His wife left him, and he struggled to provide for his two young children. So, he began… Read More
11th December 2019
A Switzerland-based subsidiary of HSBC Holdings PLC on Tuesday admitted helping Americans evade taxes over a decade and agreed to pay $192 million to settle criminal charges. The penalty includes $60 million that represents the value of unpaid taxes resulting from HSBC Private Bank’s role in the conspiracy, U.S. Read More