Ritz-Carlton corruption purge Saudi hotel reopens
12th February 2018
Ritz-Carlton corruption purge Saudi hotel reopens
A luxury Saudi hotel that served as a detention centre for dozens of princes and top officials held in a corruption drive since November has reopened. Reception staff at the five-star Ritz-Carlton in Riyadh told the BBC the hotel was admitting guests. More than 200 princes, ministers and businessmen… Read More
Saudi authorities net over $100 billion in corruption settlements
30th January 2018
Saudi authorities net over $100 billion in corruption settlements
AP – A wide-reaching anti-corruption campaign shrouded in secrecy and intrigue has netted more than $106 billion in financial settlements with 56 people remaining in custody, Saudi Arabia said on Tuesday. Saudi Attorney General Saud al-Mojeb said the settlements reached include seizure of real estate assets, commercial entities, securities… Read More
Saudi corruption probe: Billionaire Prince Alwaleed released
29th January 2018
Saudi corruption probe: Billionaire Prince Alwaleed released
Saudi Arabian billionaire Prince Alwaleed bin Talal, one of the kingdom’s top international businessmen, was released from detention on Saturday, more than two months after he was taken into custody in a sweeping crackdown on corruption. His release came hours after he told Reuters in an interview at Riyadh’s… Read More
Saudi still holding 95 people as it aims to wind down corruption probe
26th January 2018
Saudi still holding 95 people as it aims to wind down corruption probe
Authorities in Saudi Arabia are still holding 95 people in an anti-corruption campaign launched by the crown prince in November, according to the kingdom’s attorney general. In an infographic cited by Saudi-owned Al Arabiya on this week, the attorney general said 90 detainees had been released after having… Read More
Corruption: Saudi demands $6bn for Prince Bin Talal’s release – report
26th December 2017
Corruption: Saudi demands $6bn for Prince Bin Talal’s release – report
Saudi authorities have ordered Prince Al Waleed bin Talal, who is allegedly held in Riyadh’s luxurious Ritz-Carlton hotel, to pay at least USD 6 billion in exchange for his freedom, revealed the Wall Street Journal on December 22. In late November, Saudi Arabia detained about 200 dignitaries and top officials… Read More
Saudi corruption crackdown: Who owns ‘world’s most expensive home’?
18th December 2017
Saudi corruption crackdown: Who owns ‘world’s most expensive home’?
CNBC The mystery behind who owns a $300 million French chateau appears to have been solved. Chateau Louis XIV is a 54,000 square foot palace near Versailles which, when sold in 2015, was described by at least two reports as “the world’s most expensive home.” The identity of the buyer… Read More
Saudi hopes crackdown will help it get FATF membership
15th December 2017
Saudi hopes crackdown will help it get FATF membership
Saudi Arabia has high hopes that a campaign of arrests to crack down on corruption will improve its chances of joining the Financial Action Task Force, a global body dedicated to combating illicit money flows. The kingdom, one of only two G20 nations along with Indonesia which is not a… Read More
Swiss review Saudi bank account info, no action so far
4th December 2017
Swiss review Saudi bank account info, no action so far
By Angelika Gruber, Brenna Hughes, Michael Shields, REUTERS Swiss authorities are reviewing information submitted by banks about potentially suspicious transactions linked to Saudi accounts but have not frozen funds or launched criminal investigations, federal prosecutors said on Monday. They were responding to a report by the Financial Times that cited… Read More
Corruption: Saudi crackdown will not hit investments, says minister
17th November 2017
Corruption: Saudi crackdown will not hit investments, says minister
17 November 2017 By Ahmad Ghaddar, Dmitry Zhdannikov Saudi Arabia’s corruption investigations are linked to a just few individuals and will not hinder investments in the kingdom, its energy minister said on Thursday. Khalid al Falih said the crackdown was way overdue and would also not have any impact on… Read More
Lebanon risks facing Gulf Arab sanctions over Hizballah – Hariri
13th November 2017
Lebanon risks facing Gulf Arab sanctions over Hizballah – Hariri
Radio Free Europe, Radio Liberty ad Hariri, who resigned as Lebanon’s prime minister last week, says his country faces the risk of sanctions being imposed by Gulf Arab nations because of the Iran-backed Hizballah movement’s activities in Lebanon. Hariri made the comments in a television interview from Saudi Arabia on… Read More
Popular

The dark side of Zug’s Crypto Valley

IMF warns banks to evolve or be ‘left behind’ amid competition from big tech firms

ING’s Belgian Unit Fined for Money-Laundering Violations

U.S. proposes barring big tech companies from offering financial services, digital currencies

Must Read

Nordic Banks Pinched by Anti-Money-Laundering Compliance Costs

Facebook’s Libra gets stark warning from G-7 finance chiefs

Drugs, Guns and Robberies Lead to Freezes on 8 U.K. Properties

U.S. sanctions network selling materials for Iran nuclear programme

Bitcoin craze hits Iran as US sanctions squeeze weak economy