28th October 2020
U.S. sanctions over Hong Kong are likely to pose fewer headaches for international banks operating in the financial hub than first feared, lawyers say. Banks have been on notice since July, when President Trump signed a law targeting people the U.S. sees as undermining Hong Kong’s autonomy, and those… Read More
28th October 2020
Last month, The Times of Israel reported that Israel’s largest aerospace manufacturer, Israel Aerospace Industries, transferred at least $155 million in 2012-2014 to two companies that were reportedly used as a secret slush fund for Azerbaijan’s kleptocratic elite. A new report published earlier this month on Russian… Read More
28th October 2020
Federal prosecutors are recommending a prison sentence of six months or more for a Treasury Department official who admitted leaking more than 2,000 highly confidential bank reports to BuzzFeed, which used the information for stories about special counsel Robert Mueller’s probe into alleged Russian interference in the 2016 presidential campaign. Read More
28th October 2020
A Swiss court has upheld the conviction of former Ukrainian lawmaker Mykola Martynenko for laundering via Swiss banks millions of dollars worth of kickbacks for awarding overpriced contracts. In the verdict released on Monday, the Federal Criminal Court also kept in place the conviction of a second Ukrainian national described… Read More
28th October 2020
The UAE Central Bank on Monday said it imposed administrative sanctions on two exchange houses for violating rules pertaining to anti-money laundering and combating financing of terrorism and illegal organisations. The regulator imposed Dh500,000 fine on one firm and Dh950,000 on another company for having weak anti-money laundering and combating… Read More
28th October 2020
By Juan Diego Posada, InSight Crime, 27 October 2020 InSight Crime — To sell and promote their product, drug dealers in Rio de Janeiro have organized cash-prize soccer matches — in an example of how even low-level criminals use Brazil’s soccer-mad culture to net illicit cash. Police were tipped that the… Read More
28th October 2020
An Indonesian graft court has sentenced businessman Benny Tjokrosaputro to life in prison for a stock manipulation scheme that helped trigger losses of more than $1 billion at state insurer Asuransi Jiwasraya, state news agency Antara said. Three of the insurer’s executives were among the five other defendants sentenced to… Read More
28th October 2020
Vast amounts of cash started flowing into British Columbia’s largest casino in 2010 and transactions of $800,000 or more became common as players hauled in bags, suitcases and backpacks full of cash, an inquiry heard Monday. Steven Beeksma, who worked as a surveillance manager at the River Rock Casino in… Read More
28th October 2020
The Senate will start hearing the proposals to amend the Anti-Money Laundering Act (AMLA) to help boost the government’s efforts against the entry and flow of illegal money in the Philippines. “We expect to have an all-hands-on-deck involvement of top officials of concerned agencies in tackling this vital anti-corruption and… Read More
27th October 2020
Many financial institutions looking to offer banking services to the expanding number of legal cannabis growers and distributors in the U.S. are still limited by spotty regulations and expensive compliance efforts. The disparities between federal and state laws governing the use of marijuana and hemp, and the differences across states,… Read More