29th July 2020
Collapsed payments processor Wirecard AG miscoded gambling transactions and had high levels of stolen card purchases and reversed transactions, leading to hefty fines from card networks Visa Inc. and Mastercard Inc., according to people familiar with the matter. Visa and Mastercard each imposed fines exceeding $10 million… Read More
28th July 2020
Syrian businessman Rami Makhlouf revealed on Sunday he had set up a web of offshore front companies to help President Bashar al Assad evade Western sanctions, in a social media post blasting the government for investigating his business empire. One of Syria’s richest and most powerful businessmen, Makhlouf said security… Read More
27th July 2020
Privatbank, the Ukrainian lender nationalized by the state in 2016, now claims its former owners laundered nearly $800 million through the United States. After analyzing additional bank records, Privatbank filed an amended complaint in a Delaware court on July 21 against tycoons Ihor Kolomoyskiy and Hennadiy Boholyubov, claiming the men… Read More
24th July 2020
By Eli Moskowitz, OCCRP, 23 July 2020 OCCRP – As Argentina has been renegotiating its US$65 billion debt with foreign creditors, it is also grappling with the fact that up to six times that amount is believed to be held by its citizens and companies offshore. Repatriating a portion… Read More
20th July 2020
A seven-and-a-half-year investigation into the origins of a fortune amassed by former Catalan premier Jordi Pujol has ended, bringing him, his wife and their seven children closer to standing trial for money laundering and other crimes. Judge José de la Mata of Spain’s High Court (Audiencia Nacional) on Thursday recommended… Read More
17th July 2020
Tax authorities have investigated 237 cases in connection with the 2016 Panama Papers leak and a further 96 over Swiss Leaks and have so far recouped more than €27.6 million, Finance Minister Edward Scicluna said on Wednesday. Scicluna said €14.2 million was recovered from 163 concluded cases following the Panama… Read More
16th July 2020
Damaging allegations over the financial arrangements of Spain’s former king Juan Carlos have placed the royal family under unprecedented scrutiny but are unlikely to result in current or futures monarchs losing their constitutional immunity, according to legal experts. Juan Carlos abdicated in favour of his son, Felipe, six years ago,… Read More
16th July 2020
The U.S. Federal Bureau of Investigation believes firms in the nearly $10-trillion private investment funds industry are being used as vehicles for laundering money at scale, according to a leaked intelligence bulletin prepared by the agency in May. “Threat actors” — including criminals in it for the money and foreign… Read More
13th July 2020
By Adam Bychawski, openDemocracy, 10 July 2020 openDemocracy — MPs and anti-corruption campaigners have warned that the British government’s proposed ‘Magnitsky-style’ sanctions regime is not enough to tackle money laundering amid fears that Britain has become a ‘global hub for financial crime’. On Monday, the UK imposed sanctions against 49… Read More
9th July 2020
Tether and other so-called cryptocurrency stablecoins have long flown under the radar of international regulators. That’s about to change. The Financial Action Task Force, with members from about 200 countries who recommend ways to stop money laundering and the financing of terrorism, said in a report Tuesday that stablecoins… Read More