Prosecutors evaluating Dutch ties to alleged Russian money laundering
7th March 2019
Prosecutors evaluating Dutch ties to alleged Russian money laundering
Prosecutors in the Netherlands said on Wednesday they are evaluating signs of Dutch involvement in a money laundering network which is alleged by a report this week to have channelled billions of euros from Russia. Shares in Dutch banks ING and ABN Amro fell after a report by a collective… Read More
South Korean ex-president Lee granted bail in bribery case
7th March 2019
South Korean ex-president Lee granted bail in bribery case
AP—Former South Korean President Lee Myung-bak was released from detention Wednesday after a court approved 1 billion won ($885,000) bail nearly a year after his arrest and during the ongoing appeal of his corruption conviction and sentence. An official from the Seoul High Court said Lee was permitted to… Read More
Credit Agricole shares drop on money laundering allegations report
7th March 2019
Credit Agricole shares drop on money laundering allegations report
Shares in French bank Credit Agricole fell by more than 2 percent on Wednesday, with traders saying the drop was linked to media reports about a money laundering network alleged to have channeled billions of euros from Russia. Two traders linked the drop to a report in French newspaper Les… Read More
EU to broaden tax haven blacklist, weighs UAE, Bermuda listing
6th March 2019
EU to broaden tax haven blacklist, weighs UAE, Bermuda listing
European Union states have added 10 jurisdictions to a draft tax haven blacklist, including the United Arab Emirates (UAE) and Bermuda, an EU official told Reuters on Tuesday, in a move that would triple the number of listed countries. The measure comes more than one year after the bloc decided… Read More
U.S. Legislators Propose Expansion of FinCEN’s Mission
6th March 2019
U.S. Legislators Propose Expansion of FinCEN’s Mission
U.S. lawmakers are seeking to expand the mission of the country’s financial intelligence unit by granting it more authority to fight the financing of domestic terrorism and the misuse of cryptocurrencies. Under proposed legislation, the mission statement of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) would be amended to… Read More
UK and Spain back new tax rules for Gibraltar
6th March 2019
UK and Spain back new tax rules for Gibraltar
AP—Spain and Britain have reached an agreement that sets out stricter rules for companies and citizens operating from Gibraltar, a British overseas territory which Spain considers a colony. As part of the deal, Gibraltar-based companies will be required to pay taxes in Spain if they conduct most of their… Read More
U.S. senators offer North Korea sanctions bill, backed by Warmbier parents
6th March 2019
U.S. senators offer North Korea sanctions bill, backed by Warmbier parents
Two U.S. senators sought to dial up pressure on North Korea on Tuesday by reintroducing a bill to impose sanctions on any bank that does business with its government, with the endorsement of the parents of Otto Warmbier, a U.S. college student who died after being imprisoned by Pyongyang. Republican… Read More
Cash-crazy Swiss get new 1,000 Swiss franc note
6th March 2019
Cash-crazy Swiss get new 1,000 Swiss franc note
Switzerland’s central bank launched a new 1,000 Swiss franc (759.4 pounds) note on Tuesday, saying one of the world’s most valuable banknotes catered to the popularity of cash in Swiss culture and was not a help for criminals. The Swiss National Bank’s announcement of the new lilac-coloured note, available from… Read More
Indian central bank fines 19 lenders for non-compliance on SWIFT use
6th March 2019
Indian central bank fines 19 lenders for non-compliance on SWIFT use
India’s central bank has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT. The Reserve Bank of India imposed the fines over the past four days, according… Read More
FBI adds an anti-bribery squad focusing on South America
6th March 2019
FBI adds an anti-bribery squad focusing on South America
AP—Aiming to crack down on money laundering and bribes to overseas governments, the FBI is stepping up its efforts to root out foreign corruption with a new squad of agents based in Miami. The squad will focus its efforts not only on Miami but also in South America, a… Read More
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