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19th January 2021

EU sets out plans to limit US dollar reliance, reduce sanctions risks

The European Union has set out plans to strengthen the international role of the euro, as its seeks to erode the dominance on the U.S. dollar and lessen the bloc’s vulnerability to financial risks, including U.S. sanctions. The plan includes measures to help protect against currency shocks, and allow greater… Read More

19th January 2021

British Virgin Islands’ governor launches inquiry into alleged corruption

Allegations of widespread political corruption, misuse of taxpayer’s money and a climate of fear in the British Virgin Islands have led its governor to take the extraordinary step of establishing an independent judge-led inquiry into the claims. Gus Jaspert, the British-appointed BVI governor, with the personal backing of the… Read More

19th January 2021

HSBC attacked for freezing Hong Kong activist Ted Hui’s bank account

HSBC is facing growing pressure over its stance on Hong Kong after a pro-democracy activist clashed with its chief executive about its decision to freeze his bank accounts. Ted Hui, a former Hong Kong legislative councillor who fled to Britain, revealed that Noel Quinn, HSBC’s chief executive, had written… Read More

19th January 2021

Beirut blast chemicals possibly linked to sanctioned Syrian businessmen

The company that bought the ammonium nitrate which exploded in Beirut last August had possible links to two Syrian businessmen under U.S. sanctions for ties to President Bashar al-Assad, according to a report by a Lebanese journalist and London company filings. Savaro Ltd, the trading firm which procured the chemicals… Read More

19th January 2021

More Traders Likely Face Charges in Danish Tax Investigations

Danish prosecutors who charged hedge-fund manager Sanjay Shah with running a $1.6 billion tax fraud say they’re looking at a “number of other suspects” in the case. Prosecutors said they’ll be in a position by March to decide whether to press charges against more members of a network that they… Read More

19th January 2021

UK gambling firms accused of exaggerating scale of black market betting

Gambling firms have been accused of concocting a “dodgy dossier” to exaggerate the scale of black market betting, in an attempt to influence an upcoming government review expected to result in tougher regulation. Gambling industry figures recently seized on a report claiming that 200,000 people in the UK spend £1.4bn… Read More

19th January 2021

China to sanction U.S. officials for ‘nasty’ behaviour over Taiwan

U.S. officials who have engaged in “nasty behaviour” over Chinese-claimed Taiwan will face sanctions, China’s Foreign Ministry said on Monday, after Washington lifted curbs on exchanges between U.S. and Taiwanese officials. Sino-U.S. ties have worsened as China has already condemned this month’s easing, announced by U.S. Secretary of State Mike… Read More

19th January 2021

Ukraine: Watchdog warns of new attempt to sabotage anti-corruption reform

The President’s Office has drafted a bill that would prevent the National Anti-Corruption Bureau of Ukraine (NABU) from investigating top-level corruption, the Anti-Corruption Action Center said on Jan. 18, citing its sources. This information was independently confirmed by Slovo i Dilo, a news site. The President’s Office’s press service couldn’t… Read More

19th January 2021

Philippines: Bill strengthening AMLA gets final Senate nod

The Senate has approved on third and final reading a bill seeking to strengthen the Anti-Money Laundering Act (AMLA). Senate Bill No. 1945 garnered 21 affirmative votes and no negative votes during Monday’s session. “There are cracks in our financial institutions that some people have used to their advantage. With… Read More

19th January 2021

Iran Rebukes EU on Trade Channel Set Up to Avoid U.S. Sanctions

Iran’s central bank criticized a European Union payment channel designed to allow European companies to avoid U.S. sanctions, portraying it as useless and saying Iran won’t be diverting resources to it. European governments have “no idea” how to finance the conduit set up two years ago,… Read More

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