12th March 2019
A leading Putin critic has reportedly hit out at the United Kingdom’s attempts to address financial crime and sanctions against the Russian government and oligarchs, saying ‘nothing is happening’ to tackle money laundering. Russian opposition leader Alexei Navalny slammed existing Western sanctions as “chaotic” and urged authorities to refocus to… Read More
12th March 2019
Australia’s anti-money laundering watchdog said on Friday it had suspended license of two cryptocurrency exchanges after a police investigation found the businesses were being exploited for drug trafficking. It was the first such suspension by the Australian Transaction Reports and Analysis Centre, or AUSTRAC, since new legislation in April 2018… Read More
11th March 2019
Sweden’s financial watchdog said on Thursday that it had not been too lenient in dealing with Swedish banks over money laundering though the system to deal with the issue needed to be strengthened in the Nordic country. “We have not been too kind,” Swedish Financial Supervisory Authority Director General Erik… Read More
11th March 2019
An Italian appeals court has ruled it cannot hear a case against Morgan Stanley in a derivatives case which included a request for 2.7 billion euros ($3 billion) in damages from the U.S. bank. The ruling, seen by Reuters in a document filed on Thursday, confirms a decision taken in… Read More
11th March 2019
AP — Several thousand people have rallied in Moscow to protest legislation they fear could lead to widespread internet censorship for Russian users. The sanctioned rally on Sunday was organized in response to a bill in parliament that would route all internet traffic through servers in Russia, making virtual private… Read More
11th March 2019
The Romanian government is moving forward with a plan to establish a sovereign wealth fund, a revised draft bill showed on Friday, a main policy goal of the ruling Social Democrats that critics see as a potential avenue for corruption. The fund would hold a mix of cash and equity… Read More
11th March 2019
The former chief executive officer of Tanzania’s Bank M was charged with fraud and money laundering on Thursday, two months after the central bank revoked the bank’s licence. Sanjeev Kumar, who denied the charges at a court in the commercial capital Dar es Salaam, was sent to a remand prison… Read More
8th March 2019
Britain must not go soft on anti-money laundering standards to win trade deals after it leaves the European Union, a panel of lawmakers said on Friday. The report on economic crime from parliament’s Treasury Select Committee (TSC) also called for better estimates for such crimes, and for a single supervisor… Read More
8th March 2019
The United States on Thursday levied an $850 million monetary penalty against a Russian telecommunications company and its Uzbek subsidiary, marking the largest-ever settlement of a U.S. anti-foreign bribery law. As part of a deferred prosecution agreement (DPA) with the U.S. Justice Department, Moscow-based Mobile Telesystems PJSC (MTS) consented to… Read More
8th March 2019
Compliance and anti-money laundering staff are in hot demand in the Nordic financial sector following tougher regulations and a string of scandals involving the region’s top banks Danske Bank, Nordea and Swedbank. Compliance officers ensure banks meet industry regulations that have mushroomed since the financial crisis a decade ago, and… Read More