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Qatar-controlled bank investigated by UK over money laundering

The UK’s finance watchdog is investigating a British Qatari- controlled bank that has been acting as a platform for extremists’ interests in Europe. The British-registered, Qatari state controlled bank Al Rayan, is being investigated over its money laundering controls. The bank told shareholders that its “anti-money laundering processes and controls… Read More

Citigroup, BNP caught up in U.S. case against Huawei CFO: documents

U.S.-based Citigroup Inc (C.N) and French bank BNP Paribas (BNPP.PA) are caught up in the U.S. criminal case against the chief financial officer of China’s Huawei Technologies, according to newly available documents. The banks were named in documents released on Tuesday after a hearing in British… Read More

Ex-Sudan president got millions from Saudis, court hears

Sudan’s ousted president Omar Hassan al-Bashir acknowledged receiving millions of dollars from Saudi Arabia, a police detective told a court on Monday at the start of a corruption trial that many Sudanese thought they would never see. Bashir listened to the testimony without comment, sitting in a metal cage and… Read More

20th August 2019

EU to Revisit Stalled Money Laundering Blacklist: FT

The European Commission will revisit plans to publish a list of non-EU jurisdictions deemed to be particularly vulnerable to money laundering, an official from the economic bloc told the Financial Times. The incoming commission is expected by October to unveil an overhauled methodology on how to draft the blacklist of… Read More

19th August 2019

Terrorists Turn to Bitcoin for Funding, and They’re Learning Fast

Hamas, the militant Palestinian group, has been designated a terrorist organization by Western governments and some others and has been locked out of the traditional financial system. But this year its military wing has developed an increasingly sophisticated campaign to raise money using Bitcoin. In the latest version of the… Read More

19th August 2019

Court documents show U.S. seeks seizure of Iranian tanker violating sanctions

Newly released U.S. court documents show the United States issued a warrant for the seizure of an Iranian tanker that British Royal Marines had seized last month in Gibraltar, citing evidence that it was transporting oil to Syria in violation of U.S. sanctions. The oil tanker Grace 1, the more… Read More

16th August 2019

U.S. Threatens Sanctions Over Iranian Tanker After Court Release

The U.S. is gravely disappointed with the U.K. after a Gibraltar court allowed the release of an Iranian tanker suspected of hauling oil to Syria, and threatened sanctions against ports, banks and anyone else who does business with the ship or its crew, two administration officials said. The court’s decision… Read More

15th August 2019

NCA freezes £100m suspected to be from corruption overseas

More than £100m suspected to have been imported to the UK from bribery and corruption overseas has been frozen following a court order obtained by the National Crime Agency. Westminster magistrates’ court granted account freezing orders covering eight bank accounts holding in excess of £100m which is “suspected to have… Read More

14th August 2019

Iran says Britain might release oil tanker soon, Gibraltar says not yet

The British territory of Gibraltar will not yet release an Iranian oil tanker seized by Royal Marines in the Mediterranean despite an Iranian report that it could do so on Tuesday, an official Gibraltar source said. The commandeering of the Grace 1 on July 4 exacerbated frictions between Tehran and… Read More

12th August 2019

Former Barclays Execs Face New Fraud Charges in Qatar Case: Reports

The UK’s Serious Fraud Office (SFO) has added fraud charges to its case against three former Barclays executives accused of directing hundreds of millions of pounds to Qatar in return for financing from the Gulf state, according to the Financial Times and Bloomberg. The new charges target Roger… Read More

7th August 2019

Swiss indict former German soccer officials over World Cup payment

Swiss federal prosecutors have filed fraud charges against three former senior German soccer officials and one Swiss over a suspect payment linked to the 2006 World Cup hosted by Germany, the Swiss Attorney General’s office said on Tuesday. The indictment alleges former German Football Association (DFB) presidents Theo Zwanziger and… Read More

5th August 2019

Defying U.S. Sanctions, China and Others Take Oil From 12 Iranian Tankers

China and other countries are receiving oil shipments from a larger number of Iranian tankers than was previously known, defying sanctions imposed by the United States to choke off Tehran’s main source of income, an investigation by The New York Times has found. The Times examined the movements of more… Read More

1st August 2019

U.S. puts sanctions on Iranian foreign minister Zarif, who says they won’t affect him

The United States on Wednesday imposed sanctions on Iranian Foreign Minister Mohammad Javad Zarif, targeting the country’s top spokesman and potentially hurting chances of diplomatic talks amid rising tensions between the two countries. Zarif, a critical figure in the 2015 Iran nuclear deal, dismissed the action and said it would… Read More

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