Featured Saudi Arabia

Jho Low of Cyprus: 1MDB fugitive’s passports keep police guessing

The revelation last week that fugitive Malaysian businessman Low Taek Jho, better known as Jho Low, holds a Cypriot passport has sparked a fresh flurry of speculation over his whereabouts, as authorities attempt to track him down for alleged financial crimes linked to defunct state fund 1Malaysia Development Berhad. The… Read More

U.S., Gulf Nations Sanction Iranian Financial Network in Joint Action

Saudi Arabia, Qatar and five other Gulf nations joined the U.S. in imposing sanctions on a financing network controlled by Iran’s military and several men linked to the Tehran-backed Lebanese group Hezbollah. Top U.S. Treasury Department officials said the action is the largest ever by the Riyadh-based Terrorist Financing… Read More

U.S. sanctions Iran’s central bank, fund after Saudi oil attack

The United States on Friday imposed another round of sanctions on Tehran, including on Iran’s central bank and a development fund, following last week’s attacks on oil facilities in Saudi Arabia that Riyadh and U.S. officials have blamed on Iran. President Donald Trump outlined the action to reporters at the… Read More
12th September 2019
Federal prosecutors in Los Angeles have been working for three years to recover assets around the world that were allegedly acquired with billions of dollars stolen from Malaysia’s 1MDB fund by people associated with former prime minister Najib Razak. But the question of whether the civil forfeiture lawsuits for overseas… Read More
2nd September 2019
Omar al-Bashir, Sudan’s former president, has told a court that he received $25m from Saudi Arabia’s powerful crown prince. The 75-year-old, who was toppled in April in the wake of mass protests against his three-decade rule, made the statement on Saturday after a judge formally charged him with illicit… Read More
20th August 2019
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
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
1st August 2019
Oil tanker owners are finding a way to reduce the risks of navigating the Strait of Hormuz, the world’s most important — and lately most dangerous — energy chokepoint: vanish from global tracking systems. Copying from Iran’s own playbook, at least 20 ships turned off their transponders while passing through… Read More
12th July 2019
The European Union is preparing an overhaul of its listing of countries that pose money-laundering risks, an EU confidential document shows, a review that could allow Saudi Arabia to be moved to a new gray list after having been briefly blacklisted. The EU executive added the oil-rich kingdom in February… Read More
8th July 2019
As the U.S. looks to enforce sanctions aimed at halting trade with states such as Iran and Venezuela, there’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Ships… Read More
24th June 2019
Saudi Arabia has been granted full membership of the Financial Action Task Force (FATF), a global body dedicated to fighting illicit money flows, Saudi Arabia’s monetary authority said on Friday. The kingdom had been previously denied membership after not meeting criteria in anti-money laundering and counter terrorism financing, and its… Read More
18th June 2019
Secretary of State Mike Pompeo has blocked the inclusion of Saudi Arabia on a U.S. list of countries that recruit child soldiers, dismissing his experts’ findings that a Saudi-led coalition has been using under-age fighters in Yemen’s civil war, according to four people familiar with the matter. The decision, which… Read More
14th June 2019
AP — The U.S. Education Department has opened investigations into foreign funding at Georgetown University and Texas A&M University as part of a broader push to monitor international money flowing to American colleges. Both universities are being ordered to disclose years of financial records amid concerns they have not fully… Read More