15th April 2021
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
15th April 2021
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
15th April 2021
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
15th April 2021
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
15th April 2021
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
15th April 2021
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
15th April 2021
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
15th April 2021
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
14th April 2021
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
14th April 2021
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