EU announces five-year roadmap to fight dirty money, human trafficking
15th April 2021
EU announces five-year roadmap to fight dirty money, human trafficking
The European Union will seek to increase police cooperation, target human trafficking and establish new rules to counter money laundering, according to plans detailed by the European Commission on Wednesday. The EU executive set out a five-year roadmap of legislative proposals and initiatives designed to combat organised criminal gangs, who… Read More
Biden to levy sanctions on Russia for cyberattack
15th April 2021
Biden to levy sanctions on Russia for cyberattack
The US is expected to announce fresh sanctions against Russia, possibly as early as today, targeting several individuals and state-backed agencies, according to reports. Several Russian diplomats and intelligence agents based in the US are expected to be expelled and as many as 30 organisations hit with financial penalties. The… Read More
Singapore fines Swiss bank branch $1m for lapses in anti-money laundering measures
15th April 2021
Singapore fines Swiss bank branch $1m for lapses in anti-money laundering measures
The Singapore branch of a Swiss-based private bank has been fined $1 million for failing to comply with measures to counter money laundering and terrorist financing. The penalty was imposed on Bank J. Safra Sarasin (BJS) for breaches between March 2014 and September 2018. These included failing to establish the… Read More
Two Charged in Suspect $1 Billion Transfer Using N.Y. Credit Union
15th April 2021
Two Charged in Suspect $1 Billion Transfer Using N.Y. Credit Union
Two people were charged with using a New York state employees credit union to process more than $1 billion in suspect financial transactions while failing to file suspicious-activity reports or maintain adequate anti-money-laundering controls. Gyanendra Asre, 53, and Hanan Ofer, 67, persuaded the New York State Employees Federal Credit… Read More
Philippines Tightens Know-Your-Employee Rules for Banks
15th April 2021
Philippines Tightens Know-Your-Employee Rules for Banks
The Philippine central bank has approved rules that will strengthen banks’ know-your-employee procedures as financial frauds surge during the pandemic. Banks and financial institutions must adopt a risk-focused screening which considers sensitivities of positions that may require stringent procedures, the Bangko Sentral ng Pilipinas said in a statement. There must… Read More
‘Denied’: NAB, Citi pulled banking services from fintech unicorn Airwallex over AML risk fears
15th April 2021
‘Denied’: NAB, Citi pulled banking services from fintech unicorn Airwallex over AML risk fears
Hyped Australian international payments ‘unicorn’ Airwallex has defended its approach to compliance amid revelations it was denied key banking services by two major lenders due to concerns about its adherence to anti-money laundering laws. The Age and The Sydney Morning Herald can reveal the National Australia Bank cancelled transactional banking… Read More
EU Releases 2021 Serious Organized Crime Threat Assessment
15th April 2021
EU Releases 2021 Serious Organized Crime Threat Assessment
By Sadie Brown, OCCRP, 14 April 2021 OCCRP — The European Union released on Monday a detailed report it publishes every four years outlining current and future threats serious and organized crime can pose to the EU, according to a press release. This year’s EU Serious… Read More
Sixteen Hongkongers arrested in police swoop on bookmaking syndicate that laundered over HK$180 million in 10 months
15th April 2021
Sixteen Hongkongers arrested in police swoop on bookmaking syndicate that laundered over HK$180 million in 10 months
Hong Kong police have arrested 16 people in a clampdown on a bookmaking syndicate which pocketed and laundered more than HK$180 million (US$23 million) in crime proceeds over 10 months. During the operation, officers froze bank accounts containing HK$6.8 million they suspected the gang bagged through illegal gambling business. According… Read More
Libya releases man described as one of world’s most wanted human traffickers
14th April 2021
Libya releases man described as one of world’s most wanted human traffickers
Libyan authorities have released a man described as one of the world’s most wanted human traffickers, who was placed under sanctions by the UN security council for being directly involved in the sinking of migrant boats. The coastguard commander Abd al-Rahman Milad, known by his alias Bija, is suspected of… Read More
Former Mexican senator hit with criminal charges tied to energy reform
14th April 2021
Former Mexican senator hit with criminal charges tied to energy reform
Mexican prosecutors on Tuesday filed criminal charges against a former senator who under the previous government helped to pass a major energy reform which President Andres Manuel Lopez Obrador has attacked as tainted by corruption. Prosecutors charged Jorge Lavalle, a senator with the center-right National Action Party (PAN) during the… Read More
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