29th October 2019
A major accountancy firm covered up evidence of smuggling and laundering of drug money by an organised crime gang, an investigation has revealed. EY failed to report suspicious activity at one of the world’s largest gold refineries and then altered a compliance report to hide the crime. BBC Panorama discovered… Read More
28th October 2019
The Trump administration moved on Friday to further isolate Iran from the global financial system by declaring the country a “jurisdiction of primary money laundering concern.” The U.S. Treasury and State Departments also launched a new program to address concerns that its “maximum pressure” sanctions campaign is preventing Iran from… Read More
28th October 2019
As Jho Low was becoming the public face of an embattled Malaysian sovereign wealth fund known as 1MDB, the financier made friends in high places. He dined with Leonardo di Caprio, bought diamonds for supermodel Miranda Kerr, and even financed the film production company that made the “Wolf of Wall… Read More
24th October 2019
Donald Trump has announced that the US will lift sanctions on Turkey, taking credit for a ceasefire deal that should end Ankara’s attack on Kurdish-led forces – at the price of ending the Kurds’ dream of local autonomy. The US president, who has come under withering… Read More
24th October 2019
Goldman Sachs Group Inc. dismissed a senior banker in the Middle East over compliance violations, according to people with knowledge of the matter, adding to the U.S. bank’s woes in the region. Martin Weber, who’d been with the bank for about 20 years, ran the financing division in the… Read More
23rd October 2019
A U.S. prosecutor on Tuesday called Turkey’s Halkbank (HALKB.IS) a “fugitive” after it failed to make an initial court appearance in a criminal case accusing it of conspiring to violate U.S. sanctions against Iran. Assistant U.S. Attorney Michael Lockard said at a hearing in federal court in Manhattan… Read More
21st October 2019
A global anti-money-laundering watchdog is increasing pressure on Iran to meet its standards while giving the country more time to do so. The Financial Action Task Force, a Paris-based intergovernmental body that sets standards for anti-money-laundering and counterterrorism financing rules, also added three other countries to its blacklist of jurisdictions… Read More
21st October 2019
Eddie Abittan, who moved to Israel from France 16 years ago, feels comfortable in his new-ish home. So comfortable, in fact, that when his wife competed in (and won) the reality show “Master Chef Israel,” he showed up with their children, mugged for the cameras, and ran to hug her… Read More
18th October 2019
Republican and Democratic lawmakers vowed to move ahead with sanctions on Turkey despite the announcement by Vice President Mike Pence that Turkish President Recep Tayyip Erdogan agreed to temporarily halt hostilities in northern Syria. South Carolina Republican Lindsey Graham and Maryland Democrat Chris Van Hollen said they welcomed the agreement… Read More
17th October 2019
Goldman Sachs has been negotiating with the Malaysian authorities to drop criminal charges against three of its subsidiaries in connection with three bond issues by 1Malaysia Development Berhad, or 1MDB. The government is seeking $3.3 billion in compensation from the U.S. investment bank, accusing it of helping a Malaysian businessman… Read More