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23rd February 2021

Trump’s Tax Returns Aren’t the Only Crucial Records Prosecutors Will Get

When New York prosecutors finally get to examine the federal tax returns of former President Donald J. Trump, they will discover a veritable how-to guide for getting rich while losing millions of dollars and paying little to no income taxes. Whether they find evidence of crimes, however, will also depend… Read More

23rd February 2021

$2,350 set as minimum for banks to seek more client info in Seychelles

A sum of SCR50,000 ($2,350) has been set as the threshold for commercial banks in Seychelles to acquire information on purposes of transactions while dealing with their clients, said a top official of the Financial Intelligence Unit (FIU). The director of FIU, Richard Rampal, told reporters that the threshold has… Read More

23rd February 2021

Australia: $1m in cash seized as man arrested over alleged money laundering via cryptocurrency

A man who police allege is the head of a multimillion-dollar money laundering syndicate has been arrested after officers stopped his car in Sydney’s inner west and allegedly found $1 million in cash inside. Cybercrime detectives began investigating a criminal syndicate’s alleged money laundering via cryptocurrency in October last year. Read More

23rd February 2021

US detains wife of Mexican drug cartel chief El Chapo

The wife of Joaquin “El Chapo” Guzman, the imprisoned former leader of Mexico’s Sinaloa drug cartel, has been arrested over her alleged involvement in international drug trafficking, the US Department of Justice said. Emma Coronel Aispuro, 31, who regularly attended her husband’s trial two years ago, was arrested on Monday… Read More

23rd February 2021

HSBC Names Interim Compliance Chief

Kirsty Everett, the compliance chief operating officer at HSBC Holdings PLC, will serve as the U.K. bank’s interim compliance chief as it looks to fill the role permanently, the bank said Monday. The vacancy was created by the appointment of Colin Bell, HSBC’s group chief compliance officer for the… Read More

23rd February 2021

Private Equity Loses Its Shield as U.S. Cracks Down on Fraud

Insiders said one company pushed unnecessary pain medication to the U.S. military; another promoted an unproven treatment for children with cancer; and a third used unlicensed counselors to treat poor people with mental illness. In all three cases, taxpayers footed the bill — and, before long, government authorities came looking… Read More

22nd February 2021

Hide and Seek: How Drug Traffickers Get Creative at Sea

Drug traffickers engage in a creative game of hide and seek with coast guards and other security forces that board their ships at sea. Rubén Navarrete, a Mexican Navy captain based in the western state of Michoacán, told Televisa News last November that those dedicated to maritime smuggling could only… Read More

22nd February 2021

Nonprofit that prosecutors say received millions in bribes pleads guilty to U.S. racketeering charge

The nonprofit at the heart of the state’s largest corruption scandal pleaded guilty Friday to a federal racketeering charge involving House Bill 6. Generation Now helped receive more than $60 million in bribes that FirstEnergy Corp. and its affiliates gave former Ohio House Speaker Larry Householder and his allies in… Read More

22nd February 2021

Money laundering fears as U.K. universities accept £52m in cash

Universities have been accused of inadvertently facilitating money laundering after a Times investigation found that they accepted millions of pounds in cash from students from “high-risk” countries. At least 49 British universities let students use banknotes to pay £52 million in fees over the past five years, including millions… Read More

22nd February 2021

Libya trade finance scheme risks defrauding the country via UK banks: NGO

A new report out today by international NGO, Global Witness, says Libya appears to be losing millions of dollars a year through fraudulent use of its Letters of Credit (LC) system, run by the Tripoli Central Bank of Libya. The report says these deals are passing through correspondent banks in… Read More

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