Featured Saudi Arabia

Iranian Opposition Group Members Charged In Denmark With Financing Terrorist Activity

Denmark’s public prosecutor has charged three members of an Iranian Arab opposition group with financing and supporting terrorist activity in Iran and aiding Saudi intelligence services. “This is a very serious case, where people in Denmark have carried out illegal intelligence activities and financed and promoted terrorism from Denmark in… Read More

U.N. monitors backtrack on Yemen money-laundering accusations – document

Independent U.N. sanctions monitors have withdrawn accusations against Yemen’s government of money-laundering and corruption that they said “adversely affected” access to food supplies in a country on the brink of famine, a document showed. The experts had said in an annual report to the U.N. Security Council that Yemen’s central… Read More

Saudi anti-corruption authority initiates a number of criminal cases

Saudi Arabia’s Oversight and Anti-Corruption Authority announced on Sunday it has initiated a number of criminal cases. The authority said it had taken over eight cases and legal procedures against the accused were underway. In the first case, three individuals have been arrested for allegedly embezzling more than SR5 million… Read More
18th March 2021
Pakistan’s anti-graft body on Wednesday reopened a money-laundering investigation against embattled former Prime Minister Nawaz Sharif’s daughter Maryam Nawaz and summoned her on March 26. The National Accountability Bureau (NAB) has accused 47-year-old Maryam of committing money-laundering through investments of variable heavy amounts being the main shareholder of Chaudhry Sugar… Read More
15th March 2021
Two Saudi citizens have been sentenced to 28 years in jail and fined up to $3.47 million after an investigation revealed an organized crime gang laundering money overseas. An official source in the Public Prosecution stated that the Financial Investigation Unit launched an investigation into a man and a woman… Read More
15th March 2021
A Swiss prosecutor is probing whether the late Saudi king broke any laws when he transferred $100 million to a fund controlled by fellow royal Juan Carlos I of Spain in 2008. Last month, a hearing was held behind closed doors in Geneva to discuss a legal opinion that prosecutor… Read More
1st March 2021
The Biden administration announced sanctions and visa bans on Friday targeting Saudi Arabian citizens over the 2018 killing of journalist Jamal Khashoggi, but stopped short of imposing sanctions on Crown Prince Mohammed bin Salman himself. U.S. President Joe Biden’s actions in the first weeks of his administration appear aimed at… Read More
22nd February 2021
Universities have been accused of inadvertently facilitating money laundering after a Times investigation found that they accepted millions of pounds in cash from students from “high-risk” countries. At least 49 British universities let students use banknotes to pay £52 million in fees over the past five years, including millions… Read More
15th February 2021
Saudi authorities said on Sunday they had broken up an organized crime gang that was collecting money illegally and laundering it abroad. A total of SR64.860 million ($17.296 million) was smuggled, along with 19 kilograms of gold, the Public Prosecution said in a statement. It also said investigations had ended… Read More
8th February 2021
The US Department of Justice (DoJ) has served an arrest warrant on a top London law firm in an effort to seize hundreds of millions of dollars – alleged to be the proceeds of a major international fraud – which it is holding on behalf of a client. According to… Read More
8th February 2021
Yemen’s government has appointed Ernst & Young to audit its central bank accounts, a statement from the prime minister’s office said on Sunday, in response to accusations by United Nations officials that it laundered Saudi money. The audit will include internal supervision and control, as well as a review of… Read More
11th January 2021
The German lender will enter a deferred prosecution agreement to resolve charges stemming from its attempts to win business in several countries. For nearly seven years it seemed like a good way to drum up business for Deutsche Bank: pay millions of dollars to consultants in countries like Saudi Arabia,… Read More
30th December 2020
The United States has reached an agreement with Saudi Arabia’s National Commercial Bank over the NCB’s violations of US sanctions against Syria and Sudan, the US Treasury Department announced in a Monday release. The Treasury statement said:“The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced… Read More