15th December 2017
Gibraltar’s financial services watchdog will introduce the world’s first bespoke licence for “fintech” firms using blockchain distributed ledger technology from next month in a bid to attract start-ups to the British overseas territory as it prepares for Brexit. The move is the first of its kind and would formally recognise… Read More
13th December 2017
By Kateryna Kapliuk, OCCRP It’s been almost four years since Viktor Yanukovych, Ukraine’s former president, fled the country after the Euromaidan revolution. But the new government’s investigators have so far been unable to establish how much money his rule has cost the country – or where it went. There has… Read More
6th December 2017
KYC360 News The laundering of billions of dollars from a Malaysian government wealth fund using offshore companies is the worst type of kleptocracy [seen], according to US Attorney General Jeff Sessions. Sovereign wealth fund 1Malaysia Development Bhd (1MDB) was set up by the Malaysian government to promote economic development,… Read More
29th November 2017
KYC360 News European Union parliamentarians (MEPs) have called for a special inquiry into details of aggressive tax planning uncovered by the Paradise Papers. MEPs belonging to the Special Inquiry into Money Laundering, Tax Evasion and Tax Avoidance (PANA) have called for the creation of a permanent standing committee to probe… Read More
21st November 2017
BBC Assets totalling nearly £59m have been confiscated from criminals connected to Jersey over a 10-year period, figures obtained by the BBC show. A transparency campaigner said the return was “relatively modest” for an island “vulnerable” to money laundering. Island authorities believe the amount demonstrates financial crime is being… Read More
20th November 2017
KYC360 News Certain groups within the European Union are deliberately delaying progress on a new anti-money laundering (AML) law in order to stall plans for public beneficial ownership registers, the EU parliamentarians charged with steering the legal process have warned. The latest negotiations on the Fifth Anti-Money Laundering Directive (5AMLD)… Read More
15th November 2017
By Francesco Guarascio, REUTERS The European Union has called very publicly for Malta to bring to justice the killers of a journalist who accused the Mediterranean island’s leaders of profiting from global corruption. But it has for years been much less vocal — and had little success — in ensuring… Read More
13th November 2017
Jersey Evening Post An ‘offshore magic circle’ of law firms – including Jersey companies – are ‘terrified’ of the risk to their businesses following the Paradise Papers data leak, according to a Financial Times report. But according to sources quoted by the FT, they are also poised to steal the… Read More
13th November 2017
KYC360 News Members of a criminal gang comprising a banker, lawyer and other professionals, have been jailed for a $107.9 million tax fraud scheme. The six men, who were given sentences totalling 45 years, devised a fake eco-investment plot as a tax break for rich investors. “The scheme enticed high… Read More
13th November 2017
By Scilla Alecci, ICIJ From film stars to famous manga artists, journalists working on the Paradise Papers investigation have followed the money to cities where the streets do have names – and where local authorities, in at least one case, were asking questions. Files from the Maltese corporate registry revealed… Read More