28th June 2017
A Saudi-led bloc is considering fresh sanctions against Qatar that may include asking trading partners to choose between them or Doha, the United Arab Emirates (UAE) ambassador to Russia said. In an interview with The Guardian newspaper, envoy Omar Ghobash said the expulsion of Qatar from the Gulf Cooperation Council… Read More
8th June 2017
Suspicions that Qatar is involved in funding terrorism could roil Kenya’s trade relations with the Middle East country, even as neighbours in the Gulf tightened sanctions. On the second day of the Gulf Crisis when Saudi Arabia, United Arab Emirates, Bahrain and Egypt cut diplomatic ties with Qatar, Nairobi chose… Read More
23rd May 2017
Saudi Arabia’s Financial Intelligence Unit has stepped a campaign against money laundering and terror funding operations by inspecting real estate and brokerage offices as well as other vital sectors that are likely to be involved in financial crimes. The department has received more than 13,000 intimations related to money laundering… Read More
21st February 2017
Riyadh Gov. Prince Faisal bin Bandar said here on Monday that Saudi Vision 2030 would ensure transparency and the fight against corruption in its march toward the Kingdom’s development. Read More
6th February 2017
A substantial number of compliance officers (about 44 per cent) lack confidence in the anti-money laundering (AML) programmes of their organisations, according to a new report. Read More
26th January 2017
In the final part of an exclusive series of four webinars Elise Bean, former Staff Director and Chief Counsel of the U.S. Senate Permanent Subcommittee on Investigations, will explore the case of Riggs Bank. Riggs, a D.C. based commercial bank with branches around the world, was effectively shut down by means of a merger in 2005 following revelations that it handled deposits from Augusto Pinochet, the Saudi royal family and the dictator of Equatorial Guinea among others. Elise will consider what can be learnt for the case for financial crime prevention regimes today. Read More
19th December 2016
A diplomatic cable said an investigation into mysterious $700m found in Najib Razak’s bank account had not absolved him of corruption Read More
21st November 2016
Seven cases of money laundering, reportedly worth SR16 billion ($4 billion), are under investigation in Saudi Arabia, according to local media. Read More
16th November 2016
After India's Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) has now registered a money laundering case to probe the alleged payment of USD 5.7 million kickbacks in the 2008 Embraer aircraft deal. Read More
2nd November 2016
The auditor-general has cleared Foreign Minister Murray McCully of corruption over the $11.5 million Saudi Arabia Food Security Partnership but found “significant shortcomings” in the paper put to Cabinet to support the deal. “I share many New Zealanders’ concerns about the arrangements,” auditor-general Lyn Provost said in her report, released… Read More