28th July 2016
The law firm at the center of the Panama Papers leak may have helped facilitate an alleged multi-million corruption scheme tied to Sonatrach contracts won by Saipem. The International Consortium of Investigative Journalists found that Mossack Fonesca helped Farid Bedjaoui create a Swiss bank account that was used to purchase “shelf” companies in the… Read More
27th July 2016
Offshore protections allow those involved to exploit natural resources, while evading taxes and dodge prosecution for corruption and money laundering. Read More
26th July 2016
Geneva justice authorities have opened a money laundering investigation into former Russian oligarch Sergei Pugachev, blocking access to funds in the process. The investigation is based on revelations in the so-called Panama Papers. Read More
20th July 2016
Nordea, a Nordic bank named in the Panama Papers tax evasion scandal, conceded on Wednesday that it had not done enough in some cases to safeguard fully against crimes such as money laundering. The region’s biggest lender said an internal investigation found many of the files it had reviewed clearly… Read More
18th July 2016
Guernsey States have formally committed to international agreements to clamp down on tax evasion and money laundering. The government says it is supporting an initiative by G5 countries to share information on beneficial ownership. Beneficial ownership refers to when one person benefits from assets even though the legal title belongs… Read More
18th July 2016
Three Swiss banks as well as a Singapore firm are reportedly being scrutinized for their dealings with Malaysian state fund 1MDB after Banca della Svizzera Italiana, or BSI, was shut down in Singapore for violations of money-laundering rules. UBS, Falcon Private Bank, and Coutts International are being reviewed by financial… Read More
14th July 2016
UBS Group AG flagged suspicious transactions linked to 1Malaysia Development Bhd. to the Monetary Authority of Singapore, prompting an investigation of the accounts involved, a person familiar with the matter said. The transactions were not immediately recognized by UBS as suspicious, said the person, who asked not to be identified… Read More
13th July 2016
Please be advised that there have been a number of developments in relation to the Bailiwick’s sanctions regime which are set out below.  These developments concern sanctions relating to Liberia, Cote d’Ivoire and Syria. LIBERIA In recognition of the sustained progress made by the Government of Liberia in rebuilding Liberia… Read More
13th July 2016
New Zealand said on Wednesday it will introduce a registry of foreign trusts that local tax and law enforcement agencies could use to investigate suspected money laundering and tax evasion. The registry was recommended after an independent review by accountant John Shewan last month, in the wake of the Panama… Read More
8th July 2016
Authorities investigating FPB Bank in connection with Car Wash corruption probe Read More