26th October 2020
Persian Gulf waters off Iraq have become a new, important waypoint for Iranian oil smugglers looking to avoid U.S. sanctions, according to American officials, who expressed frustration that Baghdad and other allies aren’t acting more aggressively to enforce curbs on commerce with Tehran. Iranian tankers now regularly transfer… Read More
23rd October 2020
Goldman Sachs, one of Wall Street’s oldest and most prestigious banks, will pay $2.9 billion in penalties and fees to settle federal charges over its involvement in a Malaysian bribery scheme, the Justice Department announced Thursday. Prosecutors in the Eastern District of New York charged the bank with conspiracy to… Read More
23rd October 2020
A total of 200 law firms in the UAE that had failed to comply with anti-money laundering procedures have been suspended from practicing for one month. The Ministry of Justice has also called upon law firms to take necessary measures against money laundering and terrorist financing, Wam reported. The necessary… Read More
22nd October 2020
Altaf Khanani was considered one of the world’s most-wanted money launderers. The Pakistani fraudster was involved in the illicit international movement of money between countries like Pakistan, the United Arab Emirates, the US, the UK, Canada and Australia. His organization also moved money for drug cartels and terrorist groups such as Hezbollah and al-Qaida. After a massive hunt… Read More
21st October 2020
An Iranian businessman was sentenced to 23 months in prison for his role operating a company that prosecutors said helped Iranians circumvent U.S. sanctions. Seyed Sajjad Shahidian, founder and former chief executive of Iranian online financial services company Payment24, pleaded guilty in June to conspiring to defraud the U.S. Read More
8th October 2020
A woman who tried to fly from London’s Heathrow Airport with five suitcases stuffed full of bank notes worth 1.9 million pounds ($2.44 million) has been charged with money laundering, UK Border Force said on Wednesday. Tara Hanlon, 30, from Leeds in northern England, was attempting to board a flight… Read More
7th October 2020
The latest UNCTAD report titled Economic Development in Africa Report 2020 ranked Kenya at position 24 globally among countries that record high illicit financial flows. The report was presented by Secretary General of UNCTAD Mukhisa Kituyi at the end of September 2020. This places Kenya ahead of Nigeria (34),… Read More
28th September 2020
More than $55m was transferred in and out of suspicious bank accounts linked to Lamine Diack, the disgraced former head of global athletics, and his son, Papa Massata, according to a huge leak of secret financial documents. Last week the Diacks were sent to prison for their part in… Read More
24th September 2020
BuzzFeed News — With a website claiming more than 200 employees and an office in a business complex in the middle of Singapore, Ask Trading — “a trading and investment company focusing on the Russia/CIS market” — might appear to be a thriving midsize business. But actually it’s… Read More
23rd September 2020
By Kyra Gurney, ICIJ, 21 September 2020 ICIJ — After three years of digging, investigators in the United States had accumulated a mountain of evidence that they believed sealed the case against Kaloti Jewellery Group, one of the largest gold traders and refiners in the world. The Dubai-based conglomerate… Read More