Brazil Supreme Court chief says money laundering unit overreached
16th September 2019
Brazil Supreme Court chief says money laundering unit overreached
A Brazilian government agency monitoring money laundering, at the heart of the recent fight against corruption, has repeatedly overreached by acting without judicial approval, the head of the country’s Supreme Court told Reuters. The Council for Financial Activities Control (COAF) has faced scrutiny since uncovering suspicious deposits in the account… Read More
Court ruling releases $2 million back to accused in B.C.’s biggest money-laundering case
16th September 2019
Court ruling releases $2 million back to accused in B.C.’s biggest money-laundering case
A B.C. Supreme Court judge has ruled that an interim freeze of assets in B.C.’s biggest money-laundering case was done improperly, and has ordered the release of $2 million in cash to the accused. In a ruling released Friday, B.C. Supreme Court associate chief justice Heather Holmes concluded the Civil… Read More
No One Wants to Hire the Fired Wells Fargo Branch Staffers
16th September 2019
No One Wants to Hire the Fired Wells Fargo Branch Staffers
It was a few bank accounts opened years ago that got Gerard Camerino fired from Wells Fargo & Co. last October. He didn’t even remember some of the customers in question, but the company suspected their accounts were among the millions of potentially fake ones that have dogged the… Read More
Precious Metals: A Money Laundering Magnet
16th September 2019
Precious Metals: A Money Laundering Magnet
While covertly operating within the underworld as a money launderer, I had the occasion to deal with some of the most notorious money launderers in the world. I’ll never forget a particular steamy evening in Panama when I was having dinner with an old friend of Panamanian General Manuel Noriega. Read More
Luxembourg Falls Further Behind EU AML Rules As Companies Fail To Disclose Ownership
13th September 2019
Luxembourg Falls Further Behind EU AML Rules As Companies Fail To Disclose Ownership
Luxembourg has approved a further delay for companies to register their beneficial ownership details after 53% of affected entities failed to do so by the initial deadline. More than 68,000 companies had not provided the required information by the August 31 deadline and they have now been given a further… Read More
HMRC faces legal fight for handing Britons’ data to US tax officials
13th September 2019
HMRC faces legal fight for handing Britons’ data to US tax officials
HMRC is facing a legal battle to block it from handing personal details about British citizens to US tax authorities. The case could have wide-ranging implications for tens of thousands of so-called accidental Americans who left the US when they were months or years old but risk having… Read More
Moneyval: Malta must step up investigation and prosecution of money laundering
13th September 2019
Moneyval: Malta must step up investigation and prosecution of money laundering
In a report published today, the Council of Europe’s anti-money laundering body MONEYVAL calls on the Maltese authorities to strengthen their practical application of their measures to combat money laundering and financing of terrorism. The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is… Read More
San Marino seizes $19m from Congo dictator who spent $100,000 on crocodile shoes
13th September 2019
San Marino seizes $19m from Congo dictator who spent $100,000 on crocodile shoes
The tiny republic of San Marino has confiscated €19 million (£17 million) stashed in its banks by one of Africa’s longest-serving leaders. The money was allegedly deposited by Denis Sassou Nguesso, the president of the Republic of Congo, the former French colony also known as Congo-Brazzaville. The seizure of the… Read More
Russia carries out mass raids on Kremlin critic Navalny’s supporters
13th September 2019
Russia carries out mass raids on Kremlin critic Navalny’s supporters
Russian law enforcement authorities on Thursday carried out mass raids on the homes and offices of Kremlin critic Alexei Navalny’s supporters across the country, a move he described as the biggest crackdown of its kind in modern Russian history. More than 200 searches took place as part of an investigation… Read More
Fraudsters helped 900 migrants stay in UK in Britain’s biggest fake visa scam
13th September 2019
Fraudsters helped 900 migrants stay in UK in Britain’s biggest fake visa scam
A gang of fraudsters who set up bogus companies to help 900 illegal migrants stay in the country in Britain’s biggest ever fake visa scam have been spared jail. The group laundered millions of pounds through 53 businesses, including ‘Immigration4u’ and ‘Mo’s Spice Inn’, and made temporary transfers into clients’… Read More
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